CyberOptics Announces Outlook for Below-Plan Second Quarter/Second Half 1998 Operating Results; Moderating Sales Growth Attributed to Asian Economic Weakness.MINNEAPOLIS--(BUSINESS WIRE)--June 9, 1998--CyberOptics Corporation (Nasdaq National Market: CYBE) today announced that it expects to report earnings in the vicinity of $.20 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share for the second quarter of 1998 ending June 30, compared to analyst estimates of $.29 to $.31 per share, but up from the $.15 per diluted share reported in the second quarter of 1997. The Company said it is also revising its full-year outlook and currently expects 1998 sales growth in the range of 15%. Second quarter operating results will be released during the third week of July. The Company said that due to the impact of Asian economic weakness, a significant Japanese original equipment manufacturer (OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and ) of surface mount technology (SMT (1) (Surface Mount Technology) See surface mount. (2) (Station ManagemenT) An FDDI network management protocol that provides direct management. Only one node requires the software. SMT - Station Management ) electronic pick-and-place equipment recently reduced order levels for CyberOptics' LaserAlign process control sensors. Other OEM customers in Japan and Europe have maintained or increased previous LaserAlign order forecasts. Sales of SMT solder paste Solder paste (or solder cream) is a mix of small solder particles and flux. It is used extensively in the automated soldering processes wave soldering and reflow soldering. inspection systems to end-user manufacturers of printed circuit boards are also running below planned levels due primarily to a slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. in capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. , driven by concerns over Asian economic weakness. In view of the projected sales environment, the Company said it is implementing a company-wide expense containment program. However, no layoffs are planned and product development projects deemed vital to the Company's second half and 1999 prospects will be maintained at or near current levels. Dr. Steven K. Case, chairman, said, "We are managing the company for the long run. When the electronics manufacturing This article presents a typical manufacturing process of an electronic assembly. Component manufacturing Components such as resistors, capacitors and integrated circuits are generally made by specialized contractors. market improves, we want to be ready with our next generation of products." CyberOptics Corporation is a worldwide leader in the field of three-dimensional, non-contact optical process management for the SMT electronics and general industrial markets. The Company's inspection, alignment and measurement products strengthen the yields, operating efficiencies and quality control of manufacturing that involves miniaturized, high-precision, wet or fragile components as well as high-speed processes. Statements regarding the Company's anticipated performance in 1998 are forward-looking and therefore involve risks and uncertainties, including but not limited to: market conditions in the global electronics industry, competitive products and technologies, and other factors set forth in the Company's filings with the Securities and Exchange Commission. CONTACT: Jack Beagan V.P. Operations and Acting CFO See Chief Financial Officer. 612/542-5000 or Scott Larson Controller 612/542-5000 |
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