Financial focus

15 Nov 2005

The latest financial results from JDSU, Corning, Rofin-Sinar, LINOS and Cambridge Display Technology.

•  JDSU has seen its net revenue rise to $258.3 million and its net loss improve to $67 million for its first fiscal quarter of 2006. These figures compare to a net revenue of $170.9 milllion and a net loss of $145.7 million for the fourth quarter of fiscal 2005. The firm's CEO, Kevin Kennedy, expects revenues of $300 - $320 million in the next quarter.

•  Rofin-Sinar of Germany has seen both its net sales and net income for fiscal 2005 rise compared with fiscal 2004. For the twelve months ended September 30, net sales totaled $375.2 million, a 16% improvement on the 2004 figure. Net sales of macro laser products increased by 19% to $189.2 million while net sales of lasers for marking and micro applications increased by 14% to $186 million. Net income for fiscal 2005 increased by 17% to $38 million compared with fiscal 2004. "Fiscal 2006 will be characterized by a stronger electronics and semiconductor business, a stable North American market and an increased focus on Asian markets," said Peter Wirth, Rofin's executive chairman of the board.

•  Corning, US, has posted third quarter sales of $1.188 billion, up 18% over 2004's third-quarter sales of $1.006 billion and up 4% sequentially from $1.141 billion. Third quarter sales for Corning's Display Technologies segment were $489 million, an 18% increase over the previous quarter's sales of $415 million and a 66% increase from sales of $295 million in the third quarter of 2004. "Generation 5 and larger substrates accounted for more than 75% of our total sales volume in the third quarter," said Corning's president Wendell Weeks.

•  LINOS of Germany has generated a revenue of EURO 60.3 million in the first three quarters of 2005, down 8.9% on the same period in 2004. Third quarter revenue of EURO 20 million was also down on EURO 22.2 million for the same period in 2004. "The ongoing stagnation of the semiconductor market, the elimination of revenue due to the sale of the Giessen plant in April last year and of the dermatology operations in June 2005 as well as the insolvency of our customer Agfa Photo were the reasons for this decline," said LINOS in its quarterly report.

•  Having completed its initial public offering in December 2004, polymer-OLED expert Cambridge Display Technology (CDT), UK, has released its financial results for the third quarter of 2005. Year-to-date revenue for 2005 was $10.8 million, compared with $5.5 million for the first nine months of 2004. CDT says the largest source of revenue for the third quarter was the sale of equipment, including four inkjet printers, and supplies. Net loss for Q3 was $8.6 million bringing the year-to-date net loss to $24 million, compared with $34.3 million for the first three quarters of 2004.