CyberOptics Reports Third Quarter Operating Results

CyberOptics (NASDAQ:CYBE) has announced its operating results for the third quarter ended September 30, 2017.
As quoted in the press release:

Sales for this period totaled $11.8 million, down from $15.0 million in the third quarter of 2016. CyberOptics also reported a net loss for the third quarter of 2017 of $72,000 or $0.01 per share, compared to earnings of $1.2 million or $0.16 per share in the year-earlier period.
Sales of 3D Multi-Reflection Suppression (MRS) enabled products increased during the third quarter of 2017 year-over-year, but the revenue gains were not large enough to offset declines from other products.
Sales of SQ3000 3D automated optical inspection systems grew in the third quarter of 2017 by more than 240% on a year-over-year basis to $2.2 million. CyberOptics has continued to expand its base of SQ3000 customers during the past year, as more manufacturers are recognizing the competitive advantages of this important product. Sales of surface mount technology (SMT) inspection systems decreased 46% year-over-year in the third quarter of 2017 to $4.3 million, as the higher SQ3000 sales were unable to offset lower volumes of legacy products and the lack of sales of MX600 memory module inspection systems. CyberOptics recognized $2.8 million of MX600 sales in the third quarter of 2016.
Sensor sales increased 19% year-over-year in the third quarter of 2017 to $4.0 million, paced by higher volumes of both 3D MRS-enabled sensors and legacy 2D products. Third quarter sales of 3D MRS sensors to recurring OEM customers grew by more than 150% year-over-year to $1.1 million. In addition, CyberOptics is actively demonstrating its MRS-enabled mid-end semiconductor inspection capability to semiconductor manufacturers, making the company believe initial sales are possible before the end of 2018.
Sales of semiconductor sensors, principally the WaferSense/ReticleSense product lines, increased minimally year-over-year in the third quarter of 2017. Sales of general purpose metrology products were down 14% year-over-year in the third quarter to $1.3 million. Sales of CyberGage360 were less than anticipated. The company continues to believe that general purpose metrology is an attractive market for products based on its differentiated MRS technology.

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