LPKF: Laser systems demand "unabated" in 2Q12

LPKF Lasers and Electronics' continued business growth is credited to demand for laser systems in manufacturing solar cells and printed circuit boards.

Garbsen, Germany -- LPKF Lasers & Electronics says its revenues rose 34% in the first half of 2012 to €50.3 million, with a 42% rise in earnings to €7.4 million, incoming orders of €60.0M, and orders-on-hand of €34.9M. (Results for 2Q12 alone weren't specified in the company's press release, but subtracting LPKF's stated 1Q12 results they are broken out in a separate reporting: 2Q12 sales rose 45% q/q to €29.8M, with EBIT more than doubling to surpass €5M, and an order intake of €35.8M.)

A major upswing was in LPKF's solar business, which in the past six months has signed on an international solar cell manufacturer (a €43M deal). The company also continues to enjoy record demand for laser cutting systems to printed circuit board materials, as well as systems for laser direct structuring.

The company is reaffirming its guidance for the rest of and entire year 2012 (with the caveat of "if the global economy remains stable"): Revenues of €100-105M, growing across all segments, and EBIT margin of 15%-17%. It also notes that any major orders not being considered in current targets "could substantially boost the company's performance." LPKF also boldly extends its prognostication into 2013-2014, planning for 10% annual revenue growth and EBIT margins in the current range.

The financial theme has been mostly upbeat from other laser systems suppliers, notably IPG and Trumpf. Rofin-Sinar noted, though, that its fiber business was picking up more slowly than anticipated.

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