CyberOptics Reports Impact of Weak Market Conditions on 2019 Revenue Outlook
July 02 2019 - 6:45AM
Business Wire
Revises 2019 Second Quarter Revenue
Guidance
CyberOptics Corporation (Nasdaq CYBE) today announced that its
second quarter and full-year 2019 operating results will be
materially affected by the cyclical, industry-wide slowdown in
demand for SMT and semiconductor capital equipment and continued
uncertainty in the global trade environment.
Orders for SMT and semiconductor products started to weaken
during the second quarter. Despite strong year-over-year sales of
3D MRS-enabled SQ3000 AOI inspection systems, CyberOptics is now
forecasting sales of $15.0-$15.2 million for the second quarter
ending June 30, which would be at the low end of its
previously-issued guidance of $15.0-$16.5 million for this period.
Second quarter operating results will include sales of $1.1 million
for MX600 memory module inspection systems.
The impact of weakness in the SMT and semiconductor markets is
causing CyberOptics to forecast sales of $12.0 to $13.5 million for
the quarter ending September 30, 2019. The company said it expects
sluggish market conditions to persist in the fourth quarter of 2019
before strengthening in early 2020.
CyberOptics will issue its second quarter earnings release on
Wednesday, July 24, and a conference call with investors will be
held that day at 4:30 PM Eastern.
About CyberOptics
CyberOptics Corporation (www.cyberoptics.com) is a leading
global developer and manufacturer of high-precision 3D sensing
technology solutions. CyberOptics’ sensors are used in SMT,
semiconductor and metrology markets to significantly improve yields
and productivity. By leveraging its leading edge technologies, the
company has strategically established itself as a global leader in
high precision 3D sensors, allowing CyberOptics to further increase
its penetration of key vertical markets. Headquartered in
Minneapolis, Minnesota, CyberOptics conducts worldwide operations
through its facilities in North America, Asia and Europe.
Statements regarding the company’s
anticipated performance are forward-looking and therefore involve
risks and uncertainties, including but not limited to: market
conditions in the global SMT and semiconductor capital equipment
industries; the timing of orders and shipments of our products,
particularly our 3D MRS-enabled AOI systems; increasing price
competition and price pressure on our product sales, particularly
our SMT systems; the level of orders from our OEM customers; the
availability of parts required to meet customer orders;
unanticipated product development challenges; the effect of world
events on our sales, the majority of which are from foreign
customers; rapid changes in technology in the electronics and
semiconductor markets; product introductions and pricing by our
competitors; the success of our 3D technology initiatives; the
market acceptance of our SQ3000 3D CMM system, products for
semiconductor mid-end and advanced packaging inspection
applications and CyberGage360 product; costly and time consuming
litigation with third parties related to intellectual property
infringement; and other factors set forth in the company’s filings
with the Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20190702005127/en/
Jeffrey A. Bertelsen, Chief Financial Officer 763/542-5000
Carla Furanna, Head of Global Marketing 952-820-5837
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