CyberOptics Reports Improved Third Quarter Results

MINNEAPOLIS, Oct. 22 -- CyberOptics Corp. announced consolidated revenues of $10,418,000 for the third quarter of 1999 ended September 30, 1999. This represents an increase of 35 percent over the $7,737,000 reported for 1998's third quarter, and a rise of 18 percent over 1999's second-quarter results of $8,811,000. Consolidated net income totaled $201,000 or four cents per diluted share, compared with $404,000, or eight cents per diluted share, in the third quarter of fiscal 1998. The company's third quarter earnings also reflected a turnaround from the net loss of $210,000, or four cents per diluted share, recorded in the second quarter of 1999, excluding the impact of one-time charges related to two acquisitions during that quarter.
CyberOptics reported that sales of surface-mount technology/OEM sensors, particularly the LaserAlign sensor, showed improvement of 19 percent in the third quarter versus the second quarter, and an increase of 66 percent over sales in the third quarter of 1998. The company attributed the quarter-to-quarter sales growth to increased orders from a major customer for CyberOptics' current line of LaserAlign sensors, pending the introduction of its new pick-and-place equipment scheduled for early 2000. CyberOptics credited the year-to-year growth to increased sales to its largest LaserAlign customer.