| CyberOptics Slumps in Q4 |
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| Written by Mike Buetow | |||
| Thursday, 12 February 2009 06:02 | |||
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MINNEAPOLIS -- CyberOptics today said fourth-quarter sales plunged 55% year-over-year to $6.7 million as the economic slump hit the inspection equipment maker. For the period ended Dec. 31, the net loss was $6.1 million, down from net income of $1.2 million in 2007. The recent quarter included a pretax non-cash goodwill impairment charge of $3.9 million, and charges of $650,000 for excess and obsolete inventory and $294,000 for severance. At quarter's end, CyberOptics had cash and marketable securities of $30 millin, up from $29.2 million sequentially. For the year, the maker of electronics inspection equipment reported sales of $45.5 million, down 23% from 2007. The net loss was $6.7 million, down from net income of $5 million in 2007. Kathleen P. Iverson, president and chief executive officer, commented: “Sales of electronic assembly sensors and inspection systems were below forecasted levels in the fourth quarter. Revenues also were affected by a delay in customer acceptance of a previously shipped order for 17 Flex Ultra AOI systems." CyberOptics guided for sales of $4.5 million to $5.5 million for the first quarter 2009, including revenues from the postponed order. CyberOptics will roll out a new solder paste inspection system on schedule early in the second quarter. The company said the machine, which is manufactured in Singapore, will be the fastest and most accurate SPI available. A deal has been signed for CyberOptics' embedded inspection technology and contracts related to two other projects are close to being finalized, the firm said.
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| Last Updated on Thursday, 12 February 2009 06:39 |
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