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BTU International Inc. Reports Operating Results (10-K)

March 08, 2011 | About:

BTU International Inc. (BTUI) filed Annual Report for the period ended 2010-12-31.

Btu International Inc. has a market cap of $111 million; its shares were traded at around $11.9501 with a P/E ratio of 49.8 and P/S ratio of 1.4.

Highlight of Business Operations:

BTUs metallization products include the TRITAN and PVD systems. The TRITAN is the latest generation product, featuring a unique multiple belt transport system with optimized wavelength thermal heating. The TRITAN is capable of processing dual lane wafers and sells in the range of $200,000 to $400,000. The PVD series is BTUs first generation metallization drying and firing solution. It offers a wide variety of configurations from lab scale to mass production. The PVD series sells in the range of $100,000 to $275,000.

BTU offers solar processing equipment for both silicon and thin film photovoltaics. In thin film photovoltaics, BTUs equipment is used for both the Copper Indium Gallium Selenide (CIGS) and Cadmium Telluride (CdTe) processes. These thin film systems generally sell in the range of $800,000 to $2.0 million.

requirements. The product line has been specifically designed for the solar cell metallization process and is used for contact drying and firing. Specialized features include rapid heating via densely spaced tungsten lamps and rapid cooling rates obtained through proprietary water cooling technology. These systems generally range in price from $180,000 to $650,000.

machines footprint. These products are available in four models based on the heated lengths of thermal processing chambers. Heated length is based on the required production rate and loading requirements. The products generally range in price from $70,000 to $180,000.

Many of our principal customers are large-volume global manufacturers that use our products in multiple facilities worldwide. Of our top ten revenue generating customers in 2010, two were solar customers, and one customer accounted for $17.3 million or 21.2% of total net sales and another customer accounted for $14.1 million or 17.3% of total net sales.

Backlog as of December 31, 2010, was $ 39.3 million, compared to $15.3 million as of December 31, 2009. As of December 31, 2010, we expected to ship our year-end backlog within 40 weeks. Most of our backlog for solar applications are expected to be shipped in 8 20 weeks. Solder reflow systems are typically shipped within 3 to 8 weeks. The backlog of our custom systems is expected to be shipped within 12 to 40 weeks. We include in backlog only those orders for which the customer has issued a purchase order. Due to possible changes in delivery schedules, lead time variations and order cancellations, our backlog at any particular date is not necessarily representative of sales for any subsequent period.

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