NORTH BILLERICA, MA -- BTU said third-quarter net sales rose 32.5% year-over-year to $15.9 million as its SMT business continued to improve. 

Net income for the period ended Sept. 28 was breakeven, compared to net income of $600,000 last quarter and a net loss of $5.1 million in 2013.

In a statement, chairman and CEO Paul J. van der Wansem said, "Our electronics equipment business continued strong during the quarter. Margins were lower than in the preceding quarter, mainly due to lower factory absorption as well as a less favorable product mix."

Fourth-quarter revenues are expected to be slightly lower, at $13.5 million to $14.5 million, due to electronics assembly seasonality. Solar orders are expected to remain at a low level during the quarter. 

The company on Oct. 22 announced a definitive agreement to merge with Amtech Systems.  The transaction is expected to close during the first quarter 2015, subject to customary closing conditions, including shareholder approval. 

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