Micronic presents its full year results 2003

Micronic presents its full year results 2003 Taby, Sweden, February 11, 2004 - Micronic Laser Systems AB (Stockholmsborsen´s "Attract 40 list": MICR), is at the forefront in semiconductor and display laser pattern generators for the production of photomasks. Micronic today presents the Group's Quarterly Report for October 1 - December 31, 2003 and Year-end report, January 1 - December 31, 2003. (Figures in brackets relate to the same period in 2002.) * Order intake during 2003 amounted to SEK 1,086 (459) million, of which the fourth quarter was SEK 497 (73) million. * Net sales during 2003 reached SEK 428 (496) million, of which SEK 190 (182) million relates to the fourth quarter. * The fourth quarter result and 2003 year result was charged with SEK 107 million related to the decision to discontinue the Sigma7100 product. A reserve, accounted for in 2003, includes costs for rebuilding of two systems and write-down of account receivables and inventories. * The 2003 result after financial items amounted to SEK -194 (-87) million, of which SEK -93 (25) million relates to the fourth quarter. * The 2003 net result amounted to SEK -159 (-63) million, which is equivalent to SEK -5,59 (-3,30) per share. The fourth quarter net result amounted to SEK -85 (17) million, equivalent to SEK -2,18 (0,87) per share. * Closing order book at year-end was SEK 764 (231) million, including systems to be shipped in 2004 and 2005. The fantastic order intake during the fourth quarter was clouded by the decision to discontinue the Sigma7100 product including the return of the shipped system. That we didn't reach acceptable production stability is nothing but a failure. However, I feel convinced that our SLM-technology is viable and give our systems the unique productivity advantages that only the laser technology is capable of. The experiences that we have gained from the first generation of Sigma systems have been used in the development of the Sigma7300. Our goal is now to proceed with shipments of the first two Sigma7300 systems. I know that our customers are behind us and are intensively working with our engineers to put the Sigma7300 in production," says Sven Löfquist, CEO and President of Micronic Laser Systems AB and continues: "In total, year 2003 has represented a fantastic turnaround in terms of order intake. Exceeding SEK one billion, the order intake implies a turnaround both for sales and revenue. We also see a continued strength in the display market that stretch into 2005. Finally I would like to highlight the stable cash flow that we have achieved. The cash flow has during the full year, excluding the new share issue, been flat". Company contact: Sven Lofquist President & CEO +46 8 638 52 00 sven.lofquist@micronic.se Agency contact: Vincent Mayeda The Loomis Group, Inc. +1 (415) 882-9494 vincent@loomisgroup.com Micronic Laser Systems is a Swedish high-tech company engaged in the development, manufacture and marketing of a series of extremely accurate laser pattern generators for the production of photomasks. The technology involved is known as microlithography. Micronic´s systems are used by the world´s leading electronics companies in the manufacture of television and computer displays, semiconductor circuits and semiconductor packaging components. Micronic is located in Taby, north of Stockholm and at present has subsidiaries in the United States, Japan and in Taiwan. The company has 342 employees. Micronic maintains a web site at: http://www.micronic.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/02/11/20040211BIT20050/wkr0006.pdf