CyberOptics Reports In

Revenues of $6,189,000 for the third quarter of 2001 ended September 30, down from $16,277,000 in the third quarter of fiscal 2000

October 25, 2001

1 Min Read

MINNEAPOLIS -- CyberOptics Corporation (Nasdaq:CYBE) today reported consolidated revenues of $6,189,000 for the third quarter of 2001 ended September 30, down from $16,277,000 in the third quarter of fiscal 2000. The Company reported a net loss of $1,949,000 or $0.24 per diluted share for the current quarter, compared to net income of $2,814,000 or $0.33 per diluted share in the year-earlier period. The third quarter loss includes a previously-announced income tax benefit of approximately $500,000 and $169,000 of costs related to a third quarter workforce reduction affecting approximately 10% of the Company's worldwide employment. The benefit to the income tax provision reflects the impact of tax strategies related to export sales implemented in the third quarter. Excluding goodwill and intangibles amortization, the third quarter net loss would have been $0.19 per diluted share, compared to earnings of $0.37 in last year's third quarter. Steven M. Quist, president and chief executive officer, commented: "All aspects of our business have been affected by the dramatic slowdown in capital spending for electronic assembly and semiconductor capital equipment. Following a substantial decline in sales of electronic assembly sensors earlier this year, the impact of persistently weak market conditions further weakened sales of semiconductor sensors and end-user inspection systems in the third quarter. Although we believe overall market conditions could be starting to stabilize, we currently have no clear visibility about the timing of a sustainable recovery."CyberOptics Corp.

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