[Goldfisch]

AP
Rofin-Sinar Posts 2Q Profit, Names CEO
Monday May 9, 10:18 am ET

Rofin-Sinar Second-Quarter Profit Up Sharply on Sales; CFO Braun Is Named As Chairman, CEO

NEW YORK (AP) -- Rofin-Sinar Technologies Inc., which makes lasers for industrial and consumer products, on Monday said its second-quarter profit swelled 55 percent year-over-year, but warned that business could be hurt by the lagging U.S. auto industry and tool market in Europe.

The company also named Chief Financial Officer Gunther Braun to the additional roles of chairman and chief executive officer. Braun replaces Peter Wirth, who suffered a stroke in mid-January but will remain executive chairman of the board.

Quarterly income surged to $8.7 million, or 56 cents per share, from $5.6 million, or 45 cents, in the year-ago period.

Net sales rose 26 percent to $95.4 million from $75.9 million a year earlier. By segment, sales of macro products grew 30 percent to $49.8 million as micro and marking products revenue expanded 21 percent to $45.6 million.

Looking ahead, while weak markets for machine tools in Europe and the United States are expected to soften its macro business and demand from the semiconductor industry remains low, Rofin-Sinar said its backlog is "solid" and that new products to be released next month should boost results.

Rofin-Sinar shares fell 96 cents, or 3 percent, to $31.45 during premarket activity.