Financial focus

10 May 2005

The latest financial results from firms including Cambridge Display Technology, LINOS, Rofin-Sinar Technologies and more.

•  Having completed its initial public offering in December 2004, Cambridge Display Technology (CDT), UK, has posted a first quarter revenue of $1.6 million up 19% year-on-year. Net loss for the quarter deceased to $8.7 million from $17.7 million in quarter one of 2004. CDT added that it has $8.6 million in deferred revenues, which it expects to recognize during the remainder of 2005.

•  Bookham, US, has announced a revenue of $49.9 million for its third quarter of fiscal 2005, up 9% on the previous quarter. Net loss for the third quarter was $129.6 million, although this included a $98.1 million good-will write down charge. Cash and cash equivalents at the end of the third quarter totalled $42 million compared with $77.8 million for the previous quarter. A highlight of the quarter was a $100 million order from Nortel which will run until March 2006.

•  Second quarter net income at Rofin-Sinar Technologies of Germany was up 55% year-on-year to $8.7 million. Net sales for the quarter increased 26% to $95.3 million compared with $75.9 million in the same quarter of 2004. "We are very proud to deliver another quarter of strong revenue and profit growth," said Peter Wirth, the chairman of Rofin's board. "Our record sales levels were driven by good performance in all of our businesses. We were able to achieve the second best quarter in our history in terms of profitability."

•  Savvas Chamberlain, DALSA's CEO, remained upbeat after announcing a stable first quarter revenue and a 30.7% drop in net income compared with the prior year quarter. Revenue for the first quarter of 2005 came in at C$36.9 million while net income was C$2.7 million. "We were pleased to see continued robust Digital Imaging sales into the semiconductor inspection and professional photography/broadcast segments," said Chamberlain. "In our Semiconductor Business we saw a noticeable up-tick in order activity late in the quarter, which may indicate that the worst of the industry-wide inventory correction is behind us."

•  LINOS of Germany has posted a first quarter revenue of EURO 21.2 million, up $0.3 million compared with quarter one of 2004. First quarter net income increased to EURO 1.3 million compared with EURO 0.1 million in the prior year quarter. Revenue at both the firm's "Information Technology and Communications" and "Health Care and Life Sciences" divisions increased 17.3% and 2.9% to EURO 5.8 million and EURO 6.7 million year-on-year respectively. Compared with the same quarter in 2004, the Industrial Manufacturing division recorded a fall of 7.7% to EURO 8.9 million, which it attributes to the weak semiconductor market.