TABY, SWEDEN – Mycronic reported third quarter net sales of $59.5 million, down 2.6% year-over-year.

EBIT for the July to September period was $7.7 million, down 57.4% compared to the same quarter in 2016.

The firm took in $230.3 million worth of orders during the quarter, compared to $45.1 million last year.

“We have seen strong demand from our customers within the photomask industry, with orders for nine PG (Pattern Generators) systems and several upgrades,” said Lena Olving, CEO and president. “Within AS (Assembly Solutions), we have developed a modern and broad product offering and launched several new product platforms. We enter the fourth quarter with a strong backlog also for AS. Our investments in product development also continue.”

For the January to September period, net sales were $253.4 million, up 59% year-over-year. EBIT was $65.9 million, up 87.4% compared to the same period last year.

Orders for the period amounted to $368.1 million, compared to $237.9 million in 2016.

“According to market data, the global surface mount equipment market showed growth of 21% during the first half of 2017, compared with the same period in 2016,” said Olving. “Our large investments in product development within surface mount equipment have resulted in the launch of the MYPro series, including two new product platforms, the MY700 and the MY300, for dispensing and for mounting of components.”

The firm expects 2017 net sales of $344.1 million.