TABY, SWEDEN – Mycronic posted first quarter net sales up 11% year-over-year to $86.7 million.

EBIT was $22.7 million, up 25% compared to the first quarter of 2017.

"Net sales continued to increase mainly through organic growth, while EBIT increased 25% to SEK 196 million,” said Lena Olving, president and CEO. “Growth for the quarter reflects Mycronic's capacity to understand and follow technology trends to develop efficient production solutions for our customers.”

Orders for the quarter were $75.8 million, on par with the prior-year quarter.

The firm expects consolidated net sales of $404.6 million in 2018.