Equipment supplier Singulus Technologies reported Q3 2012 sales of €83.5 million and negative earnings before earnings and tax of -€10.9 million.
The company reported new order intake for the first nine months of the year had reached €110.6 million, down from €137.0 million in the same period a year ago. As of September 30 2012 the order backlog stood at €53.9 million, which is slightly above the previous-year level of €50.8 million.
With almost zero debt, Singulus management noted in a statement that it was fully committed to developing its foothold in the solar PV and thin film sectors and had the resources to develop partnerships and projects with potential customers.
However, Singulus said that it was projecting full-year losses of between €54-56 million, with liquid funds amounting €65.4 million as September 30 2012. The company recently announced a major restructuring effort on the back of weak demand, especially from the solar segment.