CyberOptics Reports Q1 Sales Down 41%
MINNEAPOLIS – CyberOptics reported consolidated sales of $6.7 million, down 41% year-over-year.
The firm posted a net loss of $2.1 million, compared to earnings of $92,000 in the year-ago period. The operating loss for the quarter was $2 million, versus operating income of $92,000 in the first quarter of 2012.
First-quarter sales rose 16% sequentially, driven by higher sales of inspection systems for the semiconductor market.
"Consistent with prior statements, we believe that the electronics market bottomed out during the first quarter, and our sequential sales growth and recent bookings indicate that our targeted markets are now strengthening. As activity levels in China and the Americas continue to strengthen and order bookings post further gains, we expect to report improved operating results over the balance of the year. For the second quarter ending June 30, we are forecasting sales of $9 million to $10 million,” said CEO Kathleen P. Iverson.
CyberOptics provides sensors and inspection systems for the electronics assembly market.
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