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Inficon Q3: sales and earnings – forecast raised again (AF)
Bad Ragaz (Reuters) – Inficon has recorded in the third quarter of 2010, a significant increase in sales and profits. The Measurement specialist sees a continued broad recovery in the target markets. The cash flow from operations improved significantly and the outlook for 2010 was increased for the second time.

Sales in the period by 49% to 68.3 million USD. This came about through 0.3 percentage point currency effects and 3.3 percentage points from acquisitions. The EBIT multiplied to 10.0 million and net profit to 6.8 million dollars as the company announced on Thursday.

Almost continuously risen
The companies get a significant sales increases in all regions and in nearly all markets. With a sales share of 40.8%, the Asia-Pacific is the largest group, followed by Europe (35.6%) and North America (22.9%). Asia-Pacific region recorded the strongest growth over the previous year.

Sales in the market for refrigeration & air conditioning increased by 68%. The demand for cooling and air conditioning systems in the Asian market, especially in China, grew steadily and loud message led to very heavy volume.

In market-specific vacuum process industries (solar, flat panel displays, precision optics and semiconductors), sales almost doubled. Both chip manufacturers and equipment manufacturers in Asia and the U.S. have shown an increased demand over the same period last year.

Sales in the market for general vacuum applications submitted according to the information to both Europe and in Asia and the demand to hold on. The growth over the previous year was 47%. The customer makes new investments and were not limited only to repeat orders, it said.

EXEMPTION FOR EMERGENCY AID & SAFETY
In North America due to lower sales resulted in the smallest market area emergency response & safety a reduction in sales. As the only target market of sales declined to 43% over the previous quarter. This depends mainly on the traditional state-based sales structure, large orders together, Inficon.

The plant started production in Shanghai in May 2010 acquired the Agilent Technologies product line micro GC. In the third quarter of complementary products sensor family with a value of approximately $ 1.5 million were delivered.

Cash flow from operations increased to 16.3 million USD, up from 3.6 million USD last year. This improvement leads Inficon on increasing returns and the optimization of inventories and receivables periods back. The equity ratio was 73.0%.

ACQUISITIONS IN VIEW
Acquisitions are more an issue. The targets are mostly privately owned, CEO Lukas Winkler said during a conference call. Therefore, not only the price is a question, but also sales readiness of the owners. This depends not least on whether the company can see a better future together with Inficon.

The measuring technology specialist is willing to finance acquisitions on their own through liquid assets. “We see no reason for companies ranging from 200 to 300 million USD”, said CEO Winkler. They argued that companies in the two-digit million U.S. dollar range of interest.

OUTLOOK IMPROVES AGAIN
For the current fiscal year, the company raised the forecast for the second time Now a turnover of 250 to 255 (previously 235-245) million USD and an operating profit is 33-35 (first 28 to 32) expected million USD. Back in August Inficon had adjusted its forecasts for the full year up. Looking to the medium-to long-term prospects, said CEO Winkler, the operating margin target lies at 15-20%.

Using the numbers Inficon exceeded market expectations partly clear. Analysts also paid tribute to the result and the stock market reacted positively. In the afternoon, the titles won in a friendly market as a whole 2.4% to 143.30 CHF.

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