MOUNTAIN VIEW, Calif., July 21 -- Spectra-Physics, a majority-owned subsidiary of Thermo Electron Corp., cited the continued growth of the telecommunications market as part of the reason for its successful second quarter.
Net sales reached $42.3 million for the second quarter of 2000, 21 percent better than $34.9 million for the same 1999 period. Net income for the second quarter of 2000 was $1.2 million, or $0.07 per diluted share, compared with $0.3 million, or $0.02 per diluted share, for the same 1999 period. The company's book-to-bill ratio for the second three months of fiscal 2000 was 1.19, consistent with 1.19 for the second quarter of 1999.
Spectra-Physics' second quarter was strong across the board--in orders, sales and earnings growth, said Patrick L. Edsell, the company's chairman, president and CEO. We saw continued momentum in our core markets, while making progress as expected in the high-growth telecommunications market for passive and active components used in dense wavelength division multiplexing devices.