Rofin achieves record high sales revenues in Q3
Laser tools maker Rofin posts quarterly results above market expectations
Rofin-Sinar Technologies Inc posted quarterly results above market expectations, helped in part by higher demand in Asia and North America.
For the third quarter ended June 30, net income rose to $16.1 million, or 54 cents a share, from $14.3 million, or 45 cents a share, a year ago.
Net sales rose 23 percent to $149.7 million. A weak U.S. dollar, especially against the Euro, contributed about $10.9 million to the sales.
Analysts on average were expecting earnings of 52 cents a share, before special items, on revenue of $138.2 million, according to Reuters Estimates.
The Plymouth, Michigan-based company saw an improvement in sales to the automotive, semiconductor, electronics and photovoltaics industries during the quarter.