Search sponsor
Management at thermal processing equipment specialist, BTU International remains pragmatic about a potential recovery in equipment sales to PV manufacturers as second quarter revenue slumped to US$14.6 million, down 10.3%, compared to US$16.3 million in the preceding quarter. This was despite improved sales from the electronics sector in the last couple of quarters.
Due to cost reduction strategies implemented last year, losses for the quarter remained flat with the previous quarter at US$2.1 million.
Paul Van Der Wansem, BTU chairman and CEO, said, “Our electronics business contributed strongly to our second quarter revenue. On the other hand, the worldwide solar cell industry continues to be in overcapacity with capital investments at a very low level. As during past downturns, the company is taking steps to carefully manage its cash and expense levels. We are maintaining our focus on selected development projects for both electronics and solar and are working to increase our penetration in electronics and demonstrate ways in which our technologies can further reduce the solar manufacturing cost-per-watt.”
The company reported that net sales for the six months of 2012, were US$30.9 million compared to US$44.4 million for the same period in 2011. Net loss was US$4.2 million, compared to a net income of US$1.8 million, for the same period a year ago.
