Perceptron Earnings Fall Amid Economic Uncertainty
The 3D automated measurement company witnessed sales drop across Europe and Asia in its first quarter earnings.
Perceptron (NASDAQ:PRCP), a company that develops robot guidance solutions has seen its share prices fall over 43 percent year to date, and its recent earnings report hasn’t shown positive signs. With figures lagging across the board — including net sales, operating income and gross profit — the only few signs of growth year-over-year were its total booking numbers, coming in at US$17.2 million, rising under 1 percent from the previous year.
As quoted in the press release:
We continue to aggressively pursue revenue growth, although progress will ultimately be determined by timing of customer orders and delivery expectations. Our focus on cost reductions and operational efficiency across the organization should continue to deliver mid-single digit operating margins through fiscal 2020. Should we see more stability in the global trade outlook and business environment, we believe these cost and operational measures should result in accelerating profitable growth.”
Jay Freeland, Perceptron’s Chairman of the Board, comments “Amidst the prolonged uncertainty in our largest industry vertical, we see a building opportunity set for our technology. We are well positioned to benefit from the increasing consumer demand trends toward electric and autonomous vehicles due to our continued product development efforts. We continue to see broad, significant interest in our technology across all regions, both from current and prospective customers, and we are already seeing strong evidence that our investments to update and expand our suite of metrology solutions over the past several years have further positioned us to meet customers’ demand with top-of-the-line solutions.
