| BTU's Q3 Sales Slip, Profits Rise |
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| Written by Mike Buetow | |||
| Tuesday, 24 October 2006 16:57 | |||
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NORTH BILLERICA, MA -- BTU International said net sales for the quarter ended Oct. 1 slipped 2% year-on-year to $18.3
million. The maker of soldering equipment reported net income jumped 48%, to $2.3 million. Sequentially, sales were down 19% and net income dropped 27%. Year to-date, sales are up 31% to $61.7 million and net income is up more than 300% to $8.2 million versus the first nine months of 2005. In a statement, chairman and CEO Paul J. van der Wansem, said, "Although our third quarter sales were below our earlier expectations, our cost control programs and higher product margins contributed to a solid quarterly profit. Our solar energy business continued to be strong, while we experienced softness in the electronics markets." BTU guided for fourth-quarter sales to be within 5% of the just-completed quarter's.
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