NORTH BILLERICA, MA -- Oven maker BTU International Inc. today reported net sales of $19.3 million, up 4% sequentially and 41% over a year ago, and net income of $2.1 million, up 31% vs. the third quarter and 2000% over the fourth quarter 2004, for its fourth quarter ended Dec. 31.
For the year net sales rose to $66.4 million, up 22%. Net income was $4.6 million, reversing a net loss of $4.2 million (including one-time charges of $1.6 million) in 2004.

BTU chairman and CEO Paul J. van der Wansem said, "We are pleased with the results of our continuing efforts to reduce costs, increase productivity, gain market share in key strategic areas and grow the business. Much of the credit for our growth is due to our emphasis on globalization and having the right products and resources in the right place at the right time."

During the quarter BTU completed a public offering of common stock, which resulted in net proceeds to the company of approximately $16 million.

Van der Wansem said the outlook is promising, if somewhat obscured. "Most of our markets look strong going into 2006. However, visibility for the total year remains somewhat limited," he said. "[W]e expect the first quarter to deliver revenues ahead of those achieved in the quarter just completed, with earnings to be the same with upside potential. Overall, we expect 2006 to be another growth year."