TABY, SWEDEN – Mycronic reported first quarter net sales of $35.1 million, up 25.6% year-over-year.

EBIT was $3 million, compared to $347,000 for the same quarter in 2014. Orders for the quarter totaled $54.4 million, up 64.1% year-over-year.

The firm’s backlog was $100.4 million, compared to $22.3 million in the same period last year.

“This year opened well for Mycronic, even without any mask writer deliveries during the first quarter. Demand for our products has been favorable, and we are leaving the quarter with a record high order backlog,” said Lena Olving, CEO and president.

“Sales in our partially cyclical business are usually somewhat lower during the first quarter than during the rest of the year,” Olving said. “Sales have been positively affected by exchange rates in the amount of SEK 49 million, especially the US dollar. The EBIT margin of 8% is also partly explained by the currency effects. But we have also done a lot to increase internal efficiency throughout the group. We continue to invest in development of new products for customers' changing needs, and in strengthening the sales organization for growth in, for example, Asia.”

The company expects 2015 sales between $190 million and $202 million.

Mycronic manufactures SMT placement equipment.

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