Financial focus

01 Nov 2005

The latest financial results from Cree, FLIR Systems, DALSA and more.

•  Cree, US, has reported a record quarterly revenue of $103.86 million (EURO 86.29 million) for its first three months of fiscal 2006. This figure represents a 5% increase sequentially and an 8% increase over the year-ago period. Net income for the first quarter was $21.72 million compared with $24.43 million for the same quarter last year.

The company says that sales of high-brightness LEDs made up 68% of the total revenue for the quarter. LED shipment volumes have risen 10% compared with the previous quarter and are up 42% on a year-on-year basis.

•  DALSA of Canada has posted a third quarter revenue of C$43.9 million, slightly down on the Q3 2004 figure of C$44.1 million. Net income for the third quarter fell to C$3 million from $5.4 million in the same quarter in 2004.

During Q3 2005, the company's digital imaging business recorded a revenue of C$31.6 million, up 27% year-on-year however revenue fell 36% to C$12.3 million in the semiconductor business segment. DALSA says it will now reduce staffing levels by up to 9% through attrition, layoffs and non-renewal of contracts and expects to see annualized cost savings of C$3 million per year.

•  FLIR Systems, US, has seen its third quarter revenue rise 2% to $113 million compared with $110.8 million for the same quarter last year. Net earnings for the third quarter also rose 3% year-on-year to $17.3 million. The company reports that revenue from its thermography division increased 5% compared with the third quarter last year while revenue from its imaging division was virtually unchanged.

"Our revenue and earnings in the third quarter were disappointing as neither of our businesses achieved their expected results," said FLIR's president Earl Lewis. "Thermography experienced slow orders in several European countries, while imaging saw an imbalance of orders and production. While we do not expect to recoup the shortfall in Q4, we remain optimistic about the future."

•  GSI Group, formerly GSI Lumonics, has also released its third quarter results. Sales for the quarter were $62.6 million compared to $66.9 million in the previous quarter. Net income for the quarter also fell to $2 million from $3.1 million in the previous quarter.

"Although the semiconductor equipment segment of our business slowed this quarter, we are encouraged by stronger order activity and recent reports of industry utilization of IC equipment at 98% for test and assembly in September," said Charles Winston, GSI's president.

•  The TRUMPF group has posted sales of EURO 1.39 billion for its fiscal year ended June 30. After record sales growth of 14% for fiscal 2004/05, TRUMPF is now expecting a further sales increase of 8% for fiscal 2005/06.

TRUMPF says that orders received rose by 13% to EURO 1.47 billion in fiscal 04/05. It also created 260 new jobs in the year with its workforce now totalling 6049 worldwide (3811 in Germany and 2238 overseas).