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Third Quarter
Net sales totaled $76.6 million for the third quarter ended June 30, 2009, a 49%, or $73.1 million, decrease from the comparable quarter of fiscal 2008. The strengthening of the US dollar, mainly against the Euro, resulted in a decrease in net sales of $6.9 million in the third quarter. Gross profit totaled $26.7 million, or 35% of net sales, compared to $62.9 million, or 42% of net sales, in the same period of fiscal year 2008. Net loss amounted to $4.9 million, or 6% of net sales, compared to net income of $16.1 million, or 11% of net sales, in the same period last year. Diluted loss per share equaled $0.17 for the quarter based upon 28.9 million weighted-average common shares outstanding, compared to diluted earnings per share of $0.54 based upon 29.9 million weighted-average common shares outstanding for the same period last fiscal year.
SG&A decreased by $4.1 million to $23.2 million, representing 30% of net sales. In addition, amortization expenses in the third quarter of fiscal year 2009 decreased by $0.2 million versus the comparable period last year to $1.0 million (1% of net sales). Net R&D expenses decreased by $2.1 million to $8.8 million, representing 11% of net sales.
Compared to the third quarter of fiscal year 2008, sales of laser products used for macro applications decreased by 49% to $31.0 million, accounting for 40% of total sales. Sales of lasers for marking and micro applications decreased by 51% to $35.2 million and represented 46% of total sales. Sales for components decreased by 43% to $10.4 million and represented 14% of total sales.
Nine Months
For the nine months ended June 30, 2009, net sales totaled $259.1 million, a decrease of $161.9 million, or 38%, from the comparable period in 2008. The strengthening of the US dollar, mainly against the Euro, resulted in a decrease in net sales of $25.3 million in the nine month period. Gross profit for the period was $96.6 million, $85.6 million lower than the same period in 2008. Net income for the nine month period ended June 30, 2009, totaled $3.9 million, with diluted earnings per share of $0.14 based upon a weighted average of 28.9 million common shares outstanding.
Net sales of lasers for macro applications decreased by $79.1 million, or 44%, to $102.6 million and net sales of lasers for marking and micro applications decreased by $71.6 million, or 36%, to $124.8 million. Sales of components decreased by $11.1 million, or 26%, to $31.7 million from the comparable period in fiscal year 2008.
On a geographical basis, net sales in North America in the first nine months showed a decrease of 46% and totaled $54.4 million (2008: $100.5 million). In Europe, net sales decreased by 32% to $150.6 million (2008: $220.2 million) and in Asia, net sales decreased by 46% to $54.1 million (2008: $100.2 million).
Order entry for the quarter amounted to $76.1 million and resulted in a backlog of $97.6 million at June 30, 2009, mainly for laser products.
The full text press release and further information including comprehensive financial data is available online at www.rofin.com - Investor Relations - Press Releases.
Contact:
Katharina Manok
Gunther Braun
ROFIN-SINAR
734-416-0206
-or-
011-49-40-733-63-4256
SOURCE ROFIN-SINAR Technologies Inc.
http://www.rofin.com
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