12 Feb 2004
A selection of financial results from some of the industry’s big hitters including Coherent, FLIR Systems and more.
• Bookham Technology has announced a revenue to $145.2 million for the year ended December 31, 2003, a 157% increase year-on-year. The UK maker of optical subsystems says this increase is largely thanks to its acquisition of Nortel Networks Optical Components in November 2002. The company posted a net loss for 2003 of $129.4 million. The company’s cash burn for the fourth quarter was down 61.1% to $15 million compared with $36.9 million in the third quarter of 2003.
• John Ambroseo, president of laser giant Coherent, was in buoyant mood announcing sales of $108 million and a net loss of $0.3 million for the company’s first quarter, which ended December 27, 2003. In comparison, the previous quarter saw a net loss of $25.7 million. The company also saw its orders for the quarter rise 35% to $126.8 million year-on-year. “The strong bookings for the quarter validate my belief that our business has turned the corner and improved performance lies ahead,” said Ambroseo.
• New Focus, US, has posted a revenue of $27.1 million for the year ended December 28, 2003, down $6.3 million on figure recorded for 2002. The company says that revenue from discontinued or divested telecommunication product lines accounts for the decline. Net loss for fiscal 2003 was $15.4 million, compared with $104.8 million for fiscal 2002.
• Infrared imaging giant FLIR Systems has reported record revenue and net earnings for 2003. Revenue for the year reached £312 million, up 19% from the $261 million generated in 2002 while net earning rose 8% to $44.7 million. FLIR says that revenue from the sales of its imaging and thermography products increased 15% and 27% respectively. “We estimate our revenue for 2004 will be in the range $425 to $435 million,” said FLIR’s president Earl Lewis.
• Three-Five Systems, US, announced annual sales of $159 million for fiscal year 2003, up $72.4 million on the previous year. Despite this 84% growth in sales, the display-maker posted a net loss of $44.5 million, compared with $17 million in 2002. During the first quarter of 2004, the company plans to axe approximately 25% of its workforce. It also anticipates a return to profitability in the fourth quarter of 2004.
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