MINNEAPOLIS – CyberOptics reported sales of $18.1 million for the fourth quarter, an increase of 37% year-over-year.

Fourth quarter earnings totaled $1.2 million, up 138.6% compared to the same period in 2017.

For full-year 2018, sales were $64.7 million, an increase of 21% from 2017. Earnings were $2.8 million, up 115.4% year-over-year.

“CyberOptics’ improved fourth quarter operating results were driven in part by significantly higher sales of 3D Multi-Reflection Suppression (MRS)-enabled sensors and inspection/metrology systems,” said Dr. Subodh Kulkarni, president and CEO. “These technologically advanced products are giving CyberOptics a true competitive advantage in our targeted markets and generated a substantial portion of our fourth quarter and full-year sales growth. Our fourth quarter revenues also benefited from customer acceptances for $1.1 million of MX600 memory module inspection systems that were previously expected to be recognized as revenue in the first quarter of 2019. And in an important milestone, in the fourth quarter of 2018 we received our first purchase order for our 3D MRS-enabled sensor for mid-end semiconductor inspection.”

Sales of sensors and inspection/metrology systems based on 3D MRS technology increased 61% year-over-year in the fourth quarter to $6.1 million, and increased 47% on a year-over-year basis for 2018 to $21.1 million. Sales of 3D MRS based products and WaferSense sensors accounted for slightly more than 50% of CyberOptics’ total sales in the fourth quarter.

Sales of OEM sensors rose 66% year-over-year during the quarter to $5.8 million. This increase was paced by sales of 3D MRS-enabled sensors, which grew 151% year-over-year to $2.3 million. OEM sensor sales are forecasted to decline in the first quarter of 2019 on a year-over-year basis, as customers have reduced orders due to sluggish market conditions that emerged late in the fourth quarter of 2018.

Sales of inspection/metrology systems increased 46% year-over-year in the fourth quarter to $9.2 million. Within this category, sales of 3D MRS-enabled SQ3000 AOI systems, including the new SQ3000 3D CMM that incorporates AOI with metrology functionality, rose 40% year-over-year to $3.7 million. System revenues benefited from customer acceptances for $1.1 million of MX600 memory module systems, and from $1.3 million of x-ray system sales. CyberOptics expects to recognize revenue for approximately $2.7 million of its MX600 backlog in the first quarter.

Sales of the WaferSense product line declined 9% year-over-year in the fourth quarter due to normal fluctuations in quarterly sales flows and overall softness in the semiconductor capital equipment market. Sales of these tools are forecasted to rebound in the first quarter, given strong order activity early in the quarter.

CyberOptics ended the fourth quarter with an order backlog of $13.6 million, down from $19.7 million at the end of the third quarter. The current backlog, which includes orders of $3.3 million for MX600 systems, was affected by the sluggish market conditions that emerged late in the fourth quarter of 2018.

Sales are forecasted to grow gradually in 2019, with increasing momentum in 2020 and beyond.

• Prev
• Next