Perceptron has announced its results for the third quarter of its 2018 fiscal year (period ended March 31, 2018).
Third quarter fiscal 2018 results compared to third quarter fiscal 2017:
- Third quarter consolidated net sales were $21.4 million, an increase of 31.3% compared to the third fiscal quarter one year ago
- Bookings hit an all-time record of $24.1 million; bookings have been at least $20 million for seven out of the last eight quarters
- Backlog increased 5.3% to $51.2 million, another all-time record for the Company
Year-to-date fiscal 2018 results compared to year-to-date fiscal 2017:
- Year-to-date consolidated net sales increased 9.9% to $61.1 million as compared to $55.6 million in the prior year-to-date period
- Net income increased dramatically, growing by $3.3 million to $2.9 million for year-to-date fiscal 2018
- Bookings increased 2.1% to $67.3 million for year-to-date fiscal 2018
David Watza, President and CEO, commented, “We are very pleased with the continued momentum this fiscal year, as we experienced strong sales growth and improved profitability in several key areas of the business. Our elevated backlog levels, which grew faster than net sales this quarter, achieved a Company record.”
“Our strong results this quarter are a direct result of the unique solutions we provide our customers. We remain well positioned this fiscal year with our year-to-date recurring operating income more than doubling, while we have also generated strong operating cash flows throughout the fiscal year,” added Watza. “The strategic plan we put into place continues to drive strength in key customer demand metrics, as evidenced by the robust sales, profitability and backlog results for the quarter.”
“In addition to the Helix®evo product launched last quarter, we are very pleased with additional orders for our In-Line Robot Guidance Solutions during the third quarter,” continued Watza. “We believe that these unique solutions, as well as the newer solutions we are launching, will enable us to expand our market share within the automotive industry. Our strategy of continued investment in engineering capabilities has proven beneficial as we expand our technical advantages in hardware and software measurement technologies. We remain confident that a relentless focus in our core markets will continue to provide sustainable and profitable long-term growth opportunities both within the automotive industry as well as other industries longer-term, as we continue to remove cost from our system and deliver more value to our customers.”
“Looking ahead to our fourth quarter of fiscal year 2018, we expect revenue in the range of $20.0 million to $23.0 million, and affirm our previous guidance of mid-single digit growth in our top line results for the full year fiscal 2018. Our longer-term aspirations are for sustained high single-digit revenue growth and resulting double-digit earnings growth,” Watza concluded.
Net sales for the third quarter of fiscal 2018 were the highest of any third quarter in company history, increasing $5.1 million, or 31.3%, versus the same quarter in the prior year, and reflecting increases in Europe and Americas regions. Third quarter bookings reached an all-time record of $24.1 million.
For more information: www.perceptron.com