CyberOptics Reports Lower Third Quarter Sales and Earnings Consistent With Earlier Statements About Impact of Asian Weakness.MINNEAPOLIS--(BUSINESS WIRE)--Oct. 20, 1998-- Improved Operating Results Expected in Fourth Quarter In Comparison to Third Quarter Levels CyberOptics Corporation (Nasdaq National Market: CYBE) today reported revenyear. Net income for the current nine-month perts about the impact on CyberOptics' business ofers, who are deploying the Company's systems to improve yields and strengthen quality control of the circuit boards produced for their 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 customers. Case said the ificantly below year-earlier levels. Third. Sales of 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 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, tinued to penetrate targeted markets with new frd quarter from the second quarter level. ial markets. The Company's inspection, alignment Alignment is the adjustment of an object in relation with other objects, or a static orientation of some object or set of objects in relation to others.
adj. 1. Operated or designed for operation at high speed: a high-speed food processor. 2. Taking place at high speed: a high-speed chase. 3. processes. ---------------------------------------------------------------------- The CyberOptics third quarter earnings teleconference will be held on Wednesday Wednesday: see week. , October October: see month. 21, 1998 at 8:00 a.m. Central (9:00 a.m. Eastern). To participate, call 913/981-5550 approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. 10 minutes before the scheduled start time and ask for the CyberOptics teleconference. ---------------------------------------------------------------------- -0-
CyberOptics Corporation
Statements of Income
(In thousands, except Three Months Ended Nine Months Ended
per share amounts) Sept. 30 Sept. 30
1998 1997 1998 1997
----------------------------------------------------------------------
Revenue $7,737 $9,249 $28,085 $24,586
Cost of revenue 3,660 3,896 12,508 11,125
----------------------------------------------------------------------
Gross margin 4,077 5,353 15,577 13,461
Research and development
expenses 1,558 1,588 5,346 4,566
Selling, general and
administrative expenses 2,447 2,127 7,499 6,231
----------------------------------------------------------------------
Income from operations 72 1,638 2,732 2,664
Interest income 532 549 1,722 1,578
----------------------------------------------------------------------
Income before income taxes 604 2,187 4,454 4,242
Provision for income taxes 200 700 1,430 1,357
----------------------------------------------------------------------
Net income $404 $1,487 $3,024 $2,885
======================================================================
Net income per share - Basic $0.08 $0.28 $0.ng - Basic
5,057 5,257 5,27Balance Sheets
ketable securities
13,411 20,577
Accounts receivable, net 1,412
1,343
-------- 14,290
Equipment and leasehold improvementsets $54,765
ncome taxes payable rnings
17,880 14,856
----------------------------------------------------------------------
Total stockholders' equity 50,538 53,293
----------------------------------------------------------------------
Total liabilities and stockholders'
equity $54,765 $57,445
======================================================================
Backlog Shipment Schedule:
------------------------------------------------------
4th Quarter 1998 5,132
1st Quarter 1999 835
Other 708
------------------------------------------------------
Total backlog $6,675
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Statements regarding the Company's anticipated performance in 1998 are forward-looking for·ward-look·ing adj. Concerned with or making provision for the future: forward-looking educators; a forward-looking corporate plan. Adj. 1. 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. |
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