Financial focus

10 Feb 2005

Including the latest financial results from Bookham, Coherent, Newport and more.

•  Bookham has reported a second quarter revenue of $45.8 million, a increase on the previous quarter's revenue of $43.6 million. The company also posted a quarterly net loss of $41.1 million. As of 1 January 2005, Bookham held $77.8 million in cash, cash equivalents, short-term investments and restricted cash. It added that its major cost-cutting move from its UK assembly site to Shenzhen in China is proceeding according to plan.

•  Coherent has announced sales of $126 million and a net income of $5.4 million for its first fiscal quarter of 2005. Sales and net income for the previous quarter were $133.2 million and $9.8 million respectively. Quarterly sales of $25.1 million at Lambda Physik represented a 45% increase year-on-year and a 5% increase over the previous quarter.

•  Newport has reported fourth quarter sales of $102.2 million, in line with its previously announced guidance of range of $100 to $103 million. Robert Deuster, CEO of Newport, said these figures were "an encouraging indication of our customers' positive response to the combination of Newport and Spectra-Physics." Taking into account charges associated with its acquisition of Spectra-Physics, Newport reported a quarterly operating loss of $67.5 million. However, the firm expects to record an operating income in the range of $2 million to $4 million for its first quarter of 2005.

•  First fiscal quarter net sales and net income were both up on last year's total at German laser maker Rofin-Sinar. Net sales were $91.4 million, up 29% year-on-year while net income increased 64% to $8.5 million. Rofin says that net sales in North America doubled to reach a new quarterly record of $28.4 million, thanks partly to Rofin's acquisitions of PRC and Lee Laser. "Our goals for the next fiscal quarters include continuing our expansion in Asia with the formation of a Chinese subsidiary," said Rofin's interim CEO Gunther Braun.

•  DALSA of Canada has released record revenue and net income figures of C$47.9 million and C$6.3 million respectively for the fourth quarter of 2004. Revenue for fiscal 2004 was up 23.3% year-on-year to reach C$168.6 million while net income increased 70.3% year-on-year to C$19.8 million. "I am confident that we can continue to grow our business profitably in 2005," concluded DALSA's CEO Savvas Chamberlain.

•  Zygo, the US maker of optical metrology instruments, has announced earnings of $2.5 million for its second fiscal quarter of 2005. This compares favourably with earnings of $0.9 million for the same period in fiscal 2004. Net sales for the second quarter increased 30% to $36 million compared with the prior year quarter. "Our second fiscal quarter proved to be a solid one," said Zygo's chairman Bruce Robinson. "We continue to experience strong sales in our industrial segment. Orders from our semiconductor segments increased substantially from our first quarter performance."

•  Net earnings for the twelve months ended December 31, 2004, rose 60% to a record $71.5 million at FLIR Systems. Revenue for 2004 was $482.7 million, an increase of 55% from the $312 million generated in 2003. Revenue from the company's imaging division increased by 65% while revenue from the thermography division increased by 37% compared to the prior year.