| CyberOptics Lowers Revenue Guidance |
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| Written by Mike Buetow | |||
| Wednesday, 07 January 2009 05:11 | |||
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MINNEAPOLIS -- CyberOptics today lowered its fourth-quarter revenue guidance 24 to 32%, citing the economy and delayed customer acceptance of a large order. For the period ended Dec. 31, CyberOptics now expects to report revenue of roughly $6.5 million, down from previous company guidance of $8.5 million to $9.5 million.The company also forecasted a net loss of 32 to 34 cents per diluted
share, below the previous guidance of a net loss of 16 to 21 cents,
prior to one-time non-cash charges for impairment or goodwill. The fourth quarter non-cash impairment charges, which are forecasted in the range of $4 million to $5.0 million, were triggered primarily by the decline in CyberOptics’ market capitalization. CyberOptics further guided for a first-quarter 2009 net loss of 28 to 33 cents per diluted share on sales of $5 million to $6 million.Sales of both electronic assembly sensors and inspection systems were below forecasted levels in the fourth quarter, the company said. Fourth-quarter revenues also were affected by a delay in customer acceptance of a previously shipped order for 17 AOI systems. CyberOptics expects to recognize revenues from this order in the first quarter of 2009. CyberOptics also reported a workforce reduction of approximately 10% in November. Nevertheless, CyberOptics’ cash burn was "minimal" in the fourth quarter, and
the company ended the period with cash and marketable securities of
approximately $29 million, down $200,000 from the September quarter.
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