Micronic progresses well in a strong market
Micronic progresses well in a strong market Taby, Sweden, July 9, 2004 - Micronic Laser Systems AB (Stockholmsborsen's "Attract 40 list": MICR) today presented the Group's Interim Report for January 1 - June 30, 2004. * Order intake during the first six months in 2004 was SEK 388 (418) million, of which the second quarter order intake was SEK * Net sales during the first six months reached SEK 241 (120) million, of which SEK 144 (98) million relates to the second quarter. * The first six months' result after financial items was SEK -25 (-97) million, of which SEK 6 (-44) million relates to the second quarter. * The reporting period net result was SEK -19 (-70) million, which is equivalent to SEK -0.49 (-3.66) per share. The second quarter net result amounted to SEK 5 (-32) million, equivalent to SEK 0.12 (-1.65) per share. * Closing order book was SEK 925 (522) million. "The first half of 2004 was characterized by a steady progress in a healthy market environment. The figures for the second quarter came in by and large as predicted. The order intake however, was slightly below our expectations", said Sven Lofquist, CEO and president of Micronic Laser Systems. "As earlier reported we have terminated the distribution agreement in Japan and are now selling directly and successfully to our customers on our main market. The transition has lead to a temporary shift in order intake from Japan, which affected the reported figures for the second quarter. The underlying market for our products continues to be good, particularly in Japan, and we expect a strong development in order intake throughout the year", Sven Lofquist clarified. "Sales progressed according to plan and we continue to see fluctuations on a quarterly basis. Our production is running at high pace and we are looking forward to several strong quarters as shipment of our LRS15000 starts", stated Sven Lofquist. "During the second quarter the photomask market for semiconductors has shown signs of recovery. The ongoing technical evaluation of Sigma7300 is progressing well and according to plan. All efforts that have been made to secure quality are now paying off in system stability", explained Sven Lofquist. "We have also during the quarter established a back-up credit facility, which gives us the leverage we need to meet an increased volume in our business in parallel with the repayment of the convertible debenture", said Sven Lofquist. 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 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/07/09/20040709BIT20110/wkr0001.pdf Complete document