TABY, SWEDEN -- Mycronic said third quarter net sales jumped to SEK 605 million ($72.8 million), up 79% year-over-year.

EBIT as of Sept. 30 was SEK 262 million, up from SEK 37 million. Year to date sales are up 46% to SEK 1.19 billion.

“Healthy growth characterized the third quarter and the year’s first nine months as regards sales and gross margins within both business areas. Adjusted for currency effects, sales growth was 30%," said Lena Olving, CEO and president of Mycronic.

Orders at the end of September were SEK 559 million, down from SEK 842 million a year ago.

Micronic owns the Mydata brand of SMT placement machines and jet dispensing printers. "Mycronic's investments in product development within existing product areas are now complemented with efforts supporting major technological leaps within SMT. By widening the product offering to include other segments, opportunities are created for a position shift, which is in line with the company's strategy for growth," the firm said.

The company guided for 2015 sales of SEK 1.65 billion to 1.75 billion.

Olving said the firm is ramping investment in new capital equipment for the SMT market.

"Besides maintaining and developing our existing offering, we are investing in product development for new needs and new markets within SMT. This includes both new geographic markets and new product segments. We will ensure the development of an attractive product offering which corresponds to customers' high demands for effective electronics production within segments where we have not traditionally been active. To this end, we entered into a partnership with a high-tech engineering company in Asia during the third quarter, increasing the pace in the execution of our product development strategy within SMT," Olving said.

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