Financial focus #2

15 Feb 2006

The latest financial results from Rofin-Sinar, DALSA and FLIR Systems.

Lasers

•  Rofin-Sinar has experienced a solid start to the year, with strong demand from customers in Taiwan and China. The firm has recorded a net income of $11.4 million on sales of $95.4 million for the first quarter of fiscal 2006. In Europe/Asia, net sales increased by 6% to $66.7 million. Net sales in North America increased by 1% to $28.7 million, which according to Rofin represents a new quarterly record. Following a decrease of 7% in sales of laser products for macro applications, Rofin's goal for the remainder of 2006 is to stimulate demand in this sector, especially in its CO₂ laser products.

Imaging

•  DALSA has reported a total revenue of CAD$166.7 million ($144.5 million) with net income of CAD$8.6 million for fiscal 2005. Both revenue and net income are down from last years figures of CAD$168.6 million and CAD$19.8 million respectively. Digital imaging revenues and earnings were lower in the forth quarter as several orders from flat panel display (FPD) and photography customers were pushed back. However, the firm's digital imaging business anticipates a rebound in end markets such as FPD inspection, where latest generation products are gaining traction.

Imaging

•  FLIR Systems has announced fourth quarter net earnings of $34.1 million, up 42% from the same period last year. Net earnings rose 27% to a record $90.8 million for the year ending 31 Dec 2005. Revenue for 2005 was $508.6 million, an increase of 5% from the $482.7 million generated in 2004. Revenue from the company's imaging division rose 2%, while revenue from the company's thermography division increased by 13% compared with the previous year. FLIR's CEO, Earl Lewis, conceded that revenue growth in the firm's imaging division was lower than anticipated, but expects better performance in 2006 following a 12.5% increase in R&D investment in 2005 from $45.8 million in 2004.