Financial focus

02 Aug 2004

A look at the financial results from industry big-hitters Newport, DALSA, JDS Uniphase and more.

•  Newport, US, has posted its second consecutive profitable quarter and its sixth consecutive quarter of sequential growth in new orders. For its second quarter ended July 3, sales totalled $47.5 million, an increase of 41% year-on-year and up 12% on the first quarter of 2004. Quarterly income from continuing operations came in at $2.1 million, up from $1.1 million in the previous quarter. New orders increased 42% to $50.8 million compared with the same quarter of 2003 and rose 15% compared with the first quarter of 2004. Having completed its acquisition of Spectra-Physics on July 16, Newport expects the combined company's sales to be in the range of $95 to $100 million in quarter three and $105 to $110 million in the final quarter of 2004.

•  DALSA of Canada also delivered a record revenue for its second quarter and is now updating its financial outlook for the rest of the year. The firm's revenue and net income were C$39.8 million and C$4.1 million respectively compared with C$32.7 million and C$2.3 million year-on-year. "In the quarter, sales in the wafer, flat-panel display and electronics inspection market segments increased close to 30%," said DALSA CEO Savvas Chamberlain. "Revenue from professional digital photography were up approximately 50% compared to 2003."

•  JDS Uniphase, US, has cut its net loss for fiscal year 2004 to $118.1 million compared with $933.8 million for fiscal 2003. The firm also announced a net revenue of $635.9 million for its fiscal 2004 compared with $675.9 million for fiscal 2003. Revenue for the firm's fourth fiscal quarter rose to $174.5 million, compared with $161.4 million in the previous quarter. "We continue to see solid indicators of market recovery across our business segments reflected in our third consecutive quarter of revenue growth and our strongest bookings performance since early 2001," said JDSU's CEO Kevin Kennedy.

•  Sales are also on the up at Biolase, the US maker of dental lasers. For its second quarter, net sales were $14.8 million compared with $10.4 million for the same period last year. Net sales for the first half of 2004 were $29.2 million, a year-on-year growth rate of 49% compared to net sales of $19.6 million for the first half of 2003.

•  VISX, the US supplier of vision correction systems, saw its second quarter revenue increase 34% to $43 million from $32 million in the comparable period of 2003. Net income also increased to $9.5 million compared with $4.1 million in the second quarter of 2003.