Financial focus

08 Nov 2004

The latest financial results from GSI Lumonics, Coherent, Newport and more.

•  Third quarter sales at GSI Lumonics more than doubled to $90.7 million compared to $44.9 million in the same period in 2003. Net income for the third quarter was $12.1 million compared to $0.6 million for the same quarter in 2003. Quarterly bookings were also up 34% year-on-year to $67.2 million, although 74% of this increase is attributed to GSI's acquisition of Westwind and MicroE. "Out third quarter results reflect the favorable impact of our acquisitions and a solid performance in our laser systems segment," said GSI's president Charles Winston.

•  Year-to-date sales of $495 million and a net income of $17.7 million at Coherent compared favorably to prior year sales of $406.2 million and a net loss of $45.9 million. "During the past fiscal year we delivered strong results with sales increasing by 22% and orders up 29% over the prior year," said Coherent's president John Ambroseo. "These results are directly attributable to the strategic investments in R&D made over the preceeding 24 months."

•  Newport has reported third quarter sales of $93.6 million and an operating quarterly loss of $13.9 million. The results include Spectra-Physics' financial activity for the period after July 16 when the acquisition was closed. In its financial statement Newport said: "The acquisition has more than doubled the size of the company in terms of revenue, headcount and operating facilities. Comparisons between the third quarter of 2004 and other periods are therefore not meaningful." Newport expects to record fourth quarter sales of $100 million to $103 million and an operating loss between $1 million and $4 million.

•  The TRUMPF group, headquartered in Germany, has ended fiscal 2003/04 with sales of EURO1.22 billion, an increase of 2.3% year-on-year. Orders at the firm increased 21% over the previous year to their highest level of EURO1.31 billion. TRUMPF says it made most of its gains outside western Europe with sales in Asia and north and south America reaching EURO171 million and EURO197 million respectively. Sales in Germany increased by 2.3% to EURO420 million. The company recorded a net income of EURO55.5 million for the year.

•  LINOS of Germany has posted a revenue of EURO66.2 million for the first nine months of 2004, up 27.1% on the prior year period. The company says it saw revenue growth in each of its three business divisions. The biggest increase (56.8%) was made by the information technology and communications division which posted a revenue of EURO19.6 million. Revenues in the health care and life sciences as well as the industrial manufacturing divisions rose 4.5% and 28.4% to EURO18.6 million and EURO28 million respectively. LINOS says that it has now surpassed its earnings before tax forecast for 2004 of EURO4.7 million.