Rofin-Sinar Technologies reports 2Q08 net sales of $136.6M

Industrial laser maker Rofin-Sinar Technologies Inc. said last week that net sales totaled $136.6M for the 2Q08 ended March 31, an 18% or $20.5 million increase over the comparable quarter of FY07.

The company said that the impact of the weakening US dollar, mainly against the Euro, resulted in an increase in net sales of $15.5M in the second quarter. Gross profit totaled $60.7M, or 44% of net sales, compared to $49.2 million or 42% of net sales in the same period of FY07.

Net income amounted to $10.8M or 8% of net sales, compared to $13.1 million, or 11% of next shares, in the same period last year.

Diluted earnings per share equaled $0.35 for the quarter based upon 30.5 million weighted-average common shares outstanding, compared to $0.41 based upon 31.7 million weighted-average common shares outstanding during the same period last fiscal year.

"While the demand for our lasers for macro applications has softened due to the adverse macroeconomic conditions, our laser solutions for marking and micro applications should gain further momentum and continue to benefit from emerging industries such as photovoltaic or consumer electronics," said Peter Wirth, chairman of the board of RSTI.

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