BTU reports strong 2Q10, net sales up 66.8% in comparison to figures from 2009


BTU International has announced its financial results for the second quarter ended July 4, 2010. Net sales for the period were US$18.0 million, up 4.9% compared to US$17.2 million in the preceding quarter, and up 66.8% compared to US$10.8 million for the same quarter in 2009.

Net income was recorded at US$0.3 million compared with the net loss of US$0.3 million in the preceding quarter, and the net loss of US$3.5 million in the second quarter a year ago. Net sales for the first six months of 2010 were US$35.2 million compared with US$20.6 million for the first six months of 2009. Net result for the six months recorded a net loss of US$0.04 million compared to a much larger net loss of US$8.0 million for the first six months of 2009.

Paul J. van der Wansem, BTU chairman and CEO said, “Net sales growth of US$0.8 million in the second quarter reflected the on-going strength of our electronics business. Our operating profit of US$0.9 million in the second quarter was driven by quarter to quarter improvements in our product mix, strong factory utilization and cost performance in China and greater than anticipated reductions of non-strategic operating expenses.

“On June 30th, we were pleased to announce the receipt of a breakthrough US$16 million dollar order for next generation in-line diffusion equipment. Our silicon solar products for metallization and in-line diffusion are clearly being validated by industry leaders. In addition, we continue to have in-depth discussions with several thin film customers who are considering follow-on orders based on our established technology.

“We expect our third quarter revenues to be essentially flat compared to the second quarter with continued strength in our electronics business. We expect that our recently announced in-line diffusion equipment order will add approximately US$4-6 million of revenue to our current run-rate in the fourth quarter. Based on additional expenditures required to increase production in our two manufacturing facilities, we expect that our operating results will show a modest loss in the third quarter with solid operating profitability in the fourth quarter,” concluded van der Wansem.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Read Next

July 12, 2024
PV Tech spoke with Helena Li at the Intersolar Europe 2024 event, about how Trina is looking to ensure effective operations.
July 12, 2024
Canadian asset owner Brookfield has acquired a majority stake in Indian clean power company Leap Green Energy in a US$200 million equity investment.
July 12, 2024
China started conducting a trade and investment barrier investigation on the measures used in the EU’s Foreign Subsidies Regulation (FAR).
July 12, 2024
Even though the solar PV market in Ecuador is currently non-existent, with only a few projects operational and mostly in the distributed generation market, it is about to take off, says José Luis García Pérez, Latin America’s CEO at Spanish developer Zelestra, formerly known as Solarpack.
July 12, 2024
Swiss Utility BKW Energie AG has sign a power purchase agreement with food and beverage company Nestlé in Germany.
July 12, 2024
IRENA has found that the world’s renewable power capacity will need to increase by 16.4%, year-on-year, to meet the world’s climate targets.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA
Solar Media Events
October 15, 2024
Santiago, Chile