TUALATIN, OR – LPKF Laser & Electronics reported second quarter sales grew almost 20% year-over-year. EBIT was EUR 700,000 (US$ 790,424).

As a result of a weak first quarter, sales and EBIT for the first six months of the year were below the previous year’s figures. Sales in the first half year reached almost EUR 40 million, while the firm recorded a loss of EUR 3.7 million.

Orders received in the first half of 2016 were EUR 60 million, up nearly 40% compared to the same period in 2015. The book-to-bill ratio was 1.5.

Growth drivers in the first six months included laser systems for plastic welding, and a solar contract for EUR 17 million. Orders in the other two segments were below expectations.

“Despite the continued weakness in the LDS business, we have taken a substantial step forward in the second quarter," said Dr. Ingo Bretthauer, CEO of LPKF. “Both the sales trends and cost-saving measures are going according to plan. We are confident we will be able to achieve our goals for 2016 on both fronts.”

For 2016, the board expects sales of EUR 90 to 110 million.

Ed.: EUR 1 = US$ 1.1292

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