CyberOptics Significantly Increases Third Quarter Sales Forecast.Business Editors/High-Tech Writers MINNEAPOLIS--(BUSINESS WIRE)--Sept. 24, 2003 Company Also Announces Restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). Plan to Further Strengthen Focus on Asian Electronics Market And Pursue New Component-Level Opportunities CyberOptics Corporation (Nasdaq:CYBE), a recognized leader in optical technology for the electronic assembly and semiconductor equipment markets, today reported that it anticipates revenues of approximately $10.0 million to $10.5 million in the third quarter of 2003 ending September 30. This revised guidance exceeds the Company's previously reported forecast, which called for third quarter revenues of $8.5 to $9.2 million. CyberOptics will release its third quarter operating results and discuss its fourth quarter outlook in late October. CyberOptics said its improved third quarter forecast reflects robust demand for LaserAlign process control sensors, as well as strong orders for inspection systems from Asian electronics manufacturers. The Company, which said it had been pursuing this Asian systems business for the past several quarters, added that visibility into future revenue levels remains somewhat limited. The Company's third and fourth quarter results will include restructuring charges restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. related to an initiative to redeploy re·de·ploy tr.v. re·de·ployed, re·de·ploy·ing, re·de·ploys 1. To move (military forces) from one combat zone to another. 2. resources aimed at pursuing additional opportunities in the Asian electronics market, developing new component-level sensor products and reducing CyberOptics' overall cost structure. This strategic initiative consists of two primary components. Reflecting the ongoing migration of 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. to Asia, CyberOptics is reducing direct sales and marketing resources in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe. The Company believes that the market leading position of its inspection systems, coupled with the strength of its channel partners, will ensure the continued success of CyberOptics in these regions. In addition, CyberOptics is intending to consolidate its R&D operation in the United Kingdom into its Minneapolis headquarters. The annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. savings from these actions, which will be fully realized in early 2004, are estimated at $3.0 million. About CyberOptics CyberOptics Corporation, a recognized worldwide leader in optical technology, designs and manufactures a growing range of yield and through-put enhancement tools for the 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 assembly equipment and semiconductor fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. equipment markets. Statements regarding the Company's anticipated performance in 2003 and beyond 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 level of orders from our 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, the timing and commercial success of new product introductions, the effect of world events on our sales, the majority of which are from foreign customers, product introductions and pricing by our competitors, and other factors set forth in the Company's filings with the Securities and Exchange Commission. |
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