Thermal processing equipment specialist, BTU International reported second quarter sales of US$16.4 million, a 40.7% increase from the previous quarter, while the company booked several PV pilot line equipment orders in the quarter.
Net sales for the first half of 2014 were US$28.1 million, compared to US$24.7 million in the same period of 2013, driven primarily to sales in the electronics sector.
The company reported a net loss for the first half of 2014 of US$1.2 million, compared to a net loss of US$3.4 million in the same period a year ago.
The company ended the second quarter with cash of US$10 million.
“Third quarter 2014 revenues are expected to be in the US$14.5 to US$15.5 million range based upon strength in orders from our electronics assembly customers,” noted Paul J. van der Wansem, BTU chairman and CEO. “We booked a few technology solar orders, primarily for pilot line production, in anticipation of an expected return of capital spending for solar cell production in 2015. Our gross margins in the US will still be affected by factory under absorption in contrast to full absorption in our China factory.”
Management said in an earnings conference call that it had seen the start of PV solar cell technology buys for advanced processes and fabrication.