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RofinSinar Technologies Inc. (RSTI) filed Quarterly Report for the period ended 2011-12-31.
Rofinsinar Technologies Inc. has a market cap of $762.1 million; its shares were traded at around $26.74 with a P/E ratio of 14.6 and P/S ratio of 1.3. Rofinsinar Technologies Inc. had an annual average earning growth of 5.3% over the past 10 years.
This is the annual revenues and earnings per share of RSTI over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of RSTI.
Highlight of Business Operations:
During the first quarter of fiscal years 2012 and 2011, we realized approximately 35% and 37% of revenues from the sale and servicing of laser products used for macro applications, approximately 55% and 53%, respectively, from the sale and servicing of laser products for marking and micro applications, and approximately 10% from the sale of components.Net Sales - Net sales of $131.6 million represent a decrease of $5.5 million, or 4%, for the three-month period ended December 31, 2011, as compared to the corresponding period in fiscal year 2011. The decrease for the three months ended December 31, 2011, resulted from a net sales decrease of $5.8 million, or 5%, in Europe and Asia, partially offset by an increase of $0.3 million, or 1%, in North America, compared to the corresponding period in fiscal year 2011. The U.S. dollar weakened against foreign currencies, primarily against the Euro, which had a favorable effect on net sales of $0.9 million for the three-month period ended December 31, 2011.
Net sales of laser products for macro applications decreased by $5.0 million, or 10%, to $46.4 million for the three-month period ended December 31, 2011, as compared to the corresponding period of fiscal year 2011. The decrease can be mainly attributed to lower demand for our lasers for macro applications in the machine tool industry, especially in Asia, and the automotive industry.
Gross Profit - Our gross profit of $46.9 million for the three-month period ended December 31, 2011, represents a decrease of $9.5 million, or 17%, from the corresponding period of fiscal year 2011. As a percentage of sales, gross profit decreased from 41% to 36% for the three-month period ended December 31, 2011, as compared to the corresponding period in fiscal year 2011. The decrease in our gross margin for the three-month period was mainly the result of a higher percentage of lower margin systems business, lower absorption of fixed costs, and a decrease in our spare parts and component business. Gross profit was favorably affected by $0.4 million due to the weakening of the U.S. dollar against foreign currencies, primarily against the Euro, in the three-month period ended December 31, 2011.
Selling, General and Administrative Expenses - Selling, general and administrative ("SG&A") expenses of $24.7 million for the three-month period ended December 31, 2011, represent a decrease of $0.9 million, or 4%, from the corresponding period of fiscal year 2011. The decrease in SG&A expenses is mainly a result of the lower commissions and lower allowance for bad debts related to the comparably lower level of business. SG&A, a significant portion of which is incurred in foreign currencies, was unfavorably affected by $0.2 million due to the weakening of the U.S. dollar against foreign currencies, primarily the Euro, for the three-month period ended December 31, 2011. As a percentage of net sales, SG&A expenses remained stable with 19% for the three-month period ended December 31, 2011, as compared to the comparable prior year period.
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