Interim report January-June 2011

Second quarter April-June, 2011
(Comparative figures refer to Q2, 2010)

• Net sales were 244 (346) million
• The operating result was SEK -36 (47) million 
• The adjusted operating result was SEK -27 (66) million
• Earnings per share were SEK -0.44 (0.55)
• Order intake was SEK 313 (292) million

Interim period January-June, 2011
(Comparative figures refer to H1, 2010)        

• Net sales were SEK 499 (505) million
• The operating result was SEK -55 (-23) million 
• The adjusted operating result was SEK -37 (15) million
• Earnings per share were SEK -0.70 (-0.54)
• Order intake was SEK 625 (628) million
• Order backlog at 30 June was SEK 272 (174) million 
   

Future outlook
The Board’s assessment is unchanged that sales in 2011 will be in the range of SEK 1,100 to 1,300 million. Sales in 2010 amounted to SEK 1,288 million.

A strong first half year for SMT
Business area SMT experienced both a strong order intake and strong sales during the first half of the year. We completed a successful launch of the faster MY100e series for mounting of components on circuit boards and the first systems have already been shipped to customers. MY500, a unique product that offers customers stencil-free application of solder paste, is also going strong and the order intake doubled during the first half of the year compared with last year.

The earthquake in Japan has affected business area Pattern Generator (PG) in the short term as enormous efforts has been focused on restoring the Japanese industry. Despite the scope of the catastrophe, it is our assessment that long term development within the electronics industry will not be affected and that the manufacture of electronics products and flat screens will continue to increase. On the mask writer side, we received orders for two systems during the quarter, one of which came from a new customer in China. Demand for tablets, smart phones and other mobile electronics creates business opportunities due to the increasing demand for photomasks for displays, semiconductors and electronic packaging.

The aftermarket business has grown by ten percent during the first six months and provides a good basis for growth and sustainable profitability.  

During the third quarter, an LDI system will be shipped to another partner for evaluation of our technology. Evaluation of the first system will continue simultaneously. The systems are being tested within different application areas.

During the first half of 2011 the Group saw a ten percent growth in sales when adjusted for currency effects. 

During the quarter, we launched our corporate values. With passion for business, technology and people, we will develop Micronic Mydata into a global high technology growth company with sustainable profitability.
 

Peter Uddfors, President and CEO 

         Peter Uddfors
         President and CEO
         +46 8 - 638 52 00
         peter.uddfors@micronic-mydata.com
         
         Carina Wång
         CFO
         +46 8 - 638 52 00
         carina.wang@micronic-mydata.com