Rofin Sees Profitable Year Despite Lower Sales
PLYMOUTH, Mich. — Citing cost-saving strategies and consolidation efforts, Rofin-Sinar Technologies Inc. achieved a 64 percent increase in profits in fiscal 2015 despite a modest decline in sales.
Net income for the fiscal year, which ended Sept. 30, was $41.3 million, or $1.46 per diluted share, compared with $25.2 million, or 89 cents per diluted share, in fiscal 2014.
Rofin attributed a 2 percent sales decline — from $530.1 million in fiscal 2014 to $519.6 million in fiscal 2015 — to fluctuations in the value of the U.S. dollar, primarily against the euro.
While sales of lasers for macro, micro and marking applications decreased overall, component sales grew by $5.9 million, or 8 percent, compared to the previous year. On a geographic basis, North American and Asian sales increased, while European sales went down.
Meanwhile, the company touted growing interest in its third-generation high-power fiber lasers.
"On a sequential basis, we were able to increase quarterly unit sales by roughly 50 percent, and it is our target to achieve a growth rate of this magnitude in fiscal year 2016," said President and CEO Thomas Merck.
Ultrashort-pulse lasers for the medical devices, automotive and photovoltaic industries constitute another growth area for the company, Merck said.
Although it anticipates a slower first quarter, Rofin projects revenues of $525 million to $545 million and earnings per diluted share of $1.70 to $1.90 in fiscal 2016.