Thermal processing equipment specialist, BTU International reported second quarter 2013, sales of $14.2 million, up 35.6 percent compared to $10.5 million in the preceding quarter, due primarily due to sales in the electronics industry.
The company noted that it had few sales in the quarter to the solar sector as overcapacity remained.
BTU International reported a net loss for the second quarter of US$0.3 million, compared to a net loss of US$3.1 million in the prior quarter. Total losses for the first six months of the year were US$3.4 million, compared to a net loss of US$4.2 million for the same period a year ago.
Sales for the first six months of 2013 totalled US$24.7 million compared to US$30.9 million for the first six months of 2012.
Paul J. van der Wansem, BTU chairman and CEO, said, “In solar, we had little revenue as the industry remains in an overcapacity situation. On the positive side, we were encouraged by the progress at our second solar customer who moved forward with the start up of new production lines using our ‘Meridian’ in-line diffusion systems.”
The company guided third quarter 2013 revenue to be in the range of US$12.5 million to US$13.5 million. Cash and cash equivalents stood at US$.2 million at the end of June, 2013.