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RofinSinar Technologies Inc. Reports Operating Results (10-Q)

February 11, 2013 | About:
10qk

10qk

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RofinSinar Technologies Inc. (RSTI) filed Quarterly Report for the period ended 2012-12-31.

Rofin-sinar Technologies, Inc. has a market cap of $783.3 million; its shares were traded at around $27.89 with a P/E ratio of 23.2 and P/S ratio of 1.5. Rofin-sinar Technologies, Inc. had an annual average earning growth of 2.1% over the past 10 years.

Highlight of Business Operations:

During the first quarter of fiscal years 2013 and 2012, we realized approximately 34% and 35% of revenues, respectively, from the sale and servicing of laser products used for macro applications, approximately 54% and 55%, respectively, from the sale and servicing of laser products for marking and micro applications, and approximately 12% and 10%, respectively, from the sale of components.

Net Sales - Net sales of $142.2 million represent an increase of $10.7 million, or 8%, for the three-month period ended December 31, 2012, as compared to the corresponding period in fiscal year 2012. The increase for the three months ended December 31, 2012, resulted from a net sales increase of $11.0 million, or 11%, in Europe and Asia, partly offset by a slight decrease of $0.3 million, or 1%, in North America, compared to the corresponding period in fiscal year 2012. The U.S. dollar strengthened against foreign currencies, primarily against the Euro, which had an unfavorable effect on net sales of $1.6 million for the three-month period ended December 31, 2012.

Gross Profit - Our gross profit of $50.1 million for the three-month period ended December 31, 2012, represents an increase of $3.2 million, or 7%, from the corresponding period of fiscal year 2012. As a percentage of sales, gross profit decreased from 35.7% to 35.3% for the three-month period ended December 31, 2012, as compared to the corresponding period in fiscal year 2012. The 0.4% change is mainly due to a different product mix between the periods. Gross profit was also unfavorably affected by $0.1 million due to the strengthening of the U.S. dollar against foreign currencies, primarily against the Euro, in the three-month period ended December 31, 2012.

portion of which is incurred in foreign currencies, was favorably affected by $0.4 million due to the strengthening of the U.S. dollar against foreign currencies, primarily the Euro, for the three-month period ended December 31, 2012. As a percentage of net sales, SG&A expenses decreased to 18% for the three-month period ended December 31, 2012 compared to 19%, for the corresponding period in fiscal year 2012.

Net Income Attributable to RSTI - As a result of the foregoing factors, the Company realized consolidated net income attributable to RSTI of $8.9 million for the three-month period ended December 31, 2012, which represents an increase of $0.8 million, or 10%, from the corresponding period in fiscal year 2012. For the three-month period ended December 31, 2012, both the basic and diluted earnings per common share calculation equaled $0.32, based upon a weighted average of 28.1 million and 28.2 million shares of common stock outstanding, as compared to basic and diluted earnings per common share calculation of $0.28 , based upon a weighted average of 28.5 million and 28.8 million shares of common stock outstanding for the corresponding period of fiscal year 2012.

Read the The complete Report

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