PV manufacturing equipment specialist Singulus Technologies reported preliminary first nine months financial figures that keep the company firmly in loss making territory.
The company reported preliminary nine month sales of €57.7 million, compared to €52.8 million in the prior year period and sales of €28.5 million for the third quarter of 2015, up from €22.7 million in the same period of 2014.
Singulus reported a negative EBIT of €13.9 million in the first nine months of 2015, down from a negative EBIT of € 38.7 million in the prior year period.
The lack of expected new orders for Blu-ray equipment was said to have been a key reason for an impact on sales and earnings in 2015.
New order intake in the third quarter was €11.3 million, down from €23.2 million in the prior year period.
Singulus noted that its order backlog amounted to €40.7 million at the end of the nine month period, significantly up from €15.9 million in the prior year period.
Cash burn in the reporting period was €19.2 million with cash and cash equivalents standing at €16.6 million, down from €35.8 million, though the company reiterated that it had sufficient funds to ‘finance its operating activities’.