MINNEAPOLIS – CyberOptics reported third quarter sales were $11.8 million, down 21.3% year-over-year.
The company posted a net loss for the quarter ended Sept. 30 of $72,000, compared to earnings of $1.2 million the same period in 2016.
Sales of 3D multi-reflection suppression-enabled products increased during the quarter, but revenue gains were not large enough to offset declines from other products, the firm says. Sales of SQ3000 3D automated optical inspection systems grew in the third quarter of 2017 by more than 240% on a year-over-year basis to $2.2 million. Sales of surface mount technology inspection systems decreased 46% year-over-year to $4.3 million. Sensor sales increased 19% year-over-year to $4 million, and sales of semiconductor sensors increased minimally.
“In the SMT and semiconductor markets, we believe the performance characteristics of MRS are superior to other technologies offered by our competitors,” said Dr. Subodh Kulkarni, president and CEO. “We are very optimistic about the future prospects of our MRS technology, particularly in the areas of inspection and metrology for semiconductor advanced packaging applications, as well as complex mobile devices and automotive applications. With challenges resulting from shrinkage of transistor dimensions, advanced packaging is expected to grow rapidly in the next 5 to 10 years to enable stacking of chips in 3D. We believe our MRS technology is well suited for many of these applications. In order to take full advantage of these opportunities, we intend to expand our sales capabilities by adding to our force of sales representatives and field engineers. We believe these initiatives will position CyberOptics to better penetrate our targeted markets and attain significantly improved operating results over the long term.”
CyberOptics ended the third quarter with an order backlog of $11.2 million, up from $7.3 million in the previous quarter.
The firm anticipates sales of $11.5 million to $13 million for the fourth quarter ending Dec. 31.