TABY, SWEDEN -- Mycronic reported March quarter net sales rose 13.2% to SEK 344 million ($42.3 million).

EBIT was SEK 32 million, up 23% from a year ago.

Orders totaling SEK 794 million during the quarter increased backlogs to a record SEK 1.52 billion.

The company guided for 2016 sales of SEK 1.9 billion.

Mycronic, which makes SMT placement equipment and photomask writers for semiconductor manufacturing, said that while it was not affected in 2015 by a global SMT equipment market slowdown, sales in that market began to slip in the March quarter.

"Despite a weak start to the year for SMT, (Mycronic) has a record large order backlog and a strong cash flow. Together with a good financial position, this gives us the prerequisites to maintain our strategy for product development for the electronics of the future, and we are on track to achieve our financial goals," the firm said.

Ed.: 1 SEK = $0.1231

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