Financial focus

03 Aug 2005

The latest financial results from Newport, Coherent, DALSA, Bookham and more.

•  Newport, US, has reported second quarter sales of $97.5 million, slightly higher than its first quarter figure of $97.0 million. New orders in the first half of 2005 were $201.8 million, an increase of 4% on a combined Newport and Spectra-Physics figure for 2004, despite a 3% reduction in orders from microelectronics customers during this period. "Our first half results clearly illustrate the benefits provided by the greater balance in our end markets, which has lessened our exposure to the cyclical microelectronics market," said Newport's CEO Robert Deuster.

•  DALSA's second quarter 2005 results show revenue of $44.1 million, up 10.6% year-on-year, and net income of $2.0 million, down from $4.1 million for the same period last year. "Our earnings were below expectations, mainly due to lower gross margins in the semiconductor business," said DALSA's CEO, Savvas Chamberlain. "Digital cinema, MEMS, and our newly formed CMOS integrated circuits group are expected to contribute significantly to our goal of growing company profitability in the future at greater than 30% per year, on average."

•  Bookham, US, has announced net revenue of $61 million for its fourth quarter of fiscal 2005, up 22% on the previous quarter. Net loss for the forth quarter was $39 million and included a charge of $16 million relating to intellectual property and goodwill from the New Focus acquisition. "We continued to make excellent progress moving our manufacturing to Shenzhen, China in the forth quarter," said Bookham's CEO, Giorgio Anania. "Revenue from Shenzhen in the forth quarter was $12.4 million."

•  Sales at GSI Group were $66.9 million for the second quarter of 2005 compared with $64.8 million in the previous quarter and $84.5 million for the same period last year. Gross margin for the quarter was 41% of sales, up six percentage points on the previous quarter. "Expenses were driven down from the last quarter through a combination of materials cost reductions, favourable product mix and absence of non-recurring charges," said GSI Group's CEO, Charles Winston.

•  Coherent has posted sales of $125.3 million and net income of $9.6 million for its third quarter of fiscal 2005. Sales and net income for the same period last year were $128.0 million and $4.7 million. The US firm's third quarter 2005 net income includes a charge of $1.6 million relating to the purchase of Germany-based TuiLaser in June 2005. "Our backlog position and cash generation remain robust. Cash from continuing operations was more than $24 million for the most recent quarter and is just shy of $73 million year-to-date, surpassing fiscal 2004's full year total," said Coherent's CEO, John Ambroseo.