PLYMOUTH, Mich. and HAMBURG, Germany, Nov. 5 /PRNewswire-FirstCall/ -- ROFIN-SINAR Technologies Inc. (Nasdaq: RSTI), one of the world's leading developers and manufacturers of high-performance laser beam sources and laser-based solutions, today announced results for its fourth fiscal quarter and twelve months ended September 30, 2009.

Fourth Quarter

Net sales totaled $90.5 million for the fourth quarter ended September 30, 2009, a 41%, or $63.8 million, decrease from the comparable quarter of fiscal 2008. The strengthening of the US dollar, mainly against the Euro, resulted in a decrease in net sales of $3.2 million in the fourth quarter. Gross profit totaled $34.6 million, or 38% of net sales, compared to $65.8 million, or 43% of net sales, in the same period of fiscal year 2008. Net income amounted to $5.3 million, or 6% of net sales, compared to net income of $20.0 million, or 13% of net sales, in the same period last year. Diluted earnings per share equaled $0.18 and $0.68 for the quarters ended September 30, 2009 and 2008, respectively, based upon 29.3 million weighted-average common shares outstanding in both periods.

SG&A decreased by $3.3 million to $21.6 million, representing 24% of net sales. Amortization expense, in the fourth quarter of fiscal year 2009 and 2008, equaled $0.9 million or 1% of net sales. Net R&D expenses decreased by $4.5 million to $6.7 million, representing 7% of net sales.

Compared to the fourth quarter of fiscal year 2008, sales of laser products used for macro applications decreased by 34% to $37.8 million, accounting for 42% of total sales. Sales of lasers for marking and micro applications decreased by 48% to $43.3 million and represented 48% of total sales. Sales for components decreased by 36% to $9.4 million and represented 10% of total sales.

Twelve Months

For the twelve months ended September 30, 2009, net sales totaled $349.6 million, a decrease of $225.7 million, or 39%, from the comparable period in 2008. The strengthening of the US dollar, mainly against the Euro, resulted in a decrease in net sales of $28.5 million in the twelve month period. Gross profit for the period was $131.2 million, $116.8 million lower than the same period in 2008. Net income for the twelve month period ended September 30, 2009 totaled $9.2 million, with diluted earnings per share of $0.31 based upon a weighted average of 29.2 million common shares outstanding.

Net sales of lasers for macro applications decreased by $98.1 million, or 41%, to $140.4 million and net sales of lasers for marking and micro applications decreased by $111.0 million, or 40%, to $168.1 million. Sales of components decreased by $16.5 million, or 29%, to $41.1 million from the comparable period in fiscal year 2008.

On a geographical basis, net sales in North America in the twelve months resulted in a decrease of 51% and totaled $70.0 million (2008: $142.0 million). In Europe, net sales decreased by 32% to $199.1 million (2008: $294.4 million) and in Asia, net sales decreased by 42% to $80.5 million (2008: $138.9 million).

Order entry for the fourth quarter was heavily impacted by cancellation of orders, that were mainly recorded in the previous fiscal year and which amounted to $9.2 million. Order entry before cancellations amounted to $89.6 million which resulted in a book-to-bill ratio of approximately 1. Net order entry was $80.4 million and resulted in a backlog, mainly for laser products, of $87.6 million at September 30, 2009.

The full text of the press release and further information including comprehensive financial data is available online at www.rofin.com.

    Contact:         Katharina Manok
                     Gunther Braun
                     ROFIN-SINAR
                     734-416-0206
                     - or -
                     011-49-40-733-63-4256

SOURCE ROFIN-SINAR Technologies Inc.

Back to top

RELATED LINKS
http://www.rofin.com