Perceptron a leading global provider of 3D automated metrology solutions has announced results for the first quarter of its 2018 fiscal year (quarterly period ended September 30, 2017).
Total sales for the first quarter of fiscal 2018 were up $1.8 million or 10.3%, versus the same quarter in the prior year, reflecting increases in the Americas and Asia regions. The improvement in the Americas region was primarily due to an increase in the In-Line and Near-Line Measurement Solutions and Value-Added Services, partially offset by decreases in the Off-Line Measurement Solutions (CMM) and 3D Scanning Solutions. The improvement in the Asia region was primarily due to increases in the In-Line and Near-Line Measurement Solutions as well as the Off-Line Measurement Solutions. The Europe region was down due to decreases in In-Line and Near-Line Measurement Solutions as well as the Off-Line Measurement Solutions, partially offset by a small increase in Value-Added Services.
- First quarter consolidated net sales increased 10.3% to $19.3 million, tying a first quarter record established in September 2008.
- Bookings increased 6.4% to $23.2 million, which represents a record for the first fiscal quarter.
- Backlog increased 14.8% to $48.9 million.
- First quarter consolidated gross profit increased 67.4% to $7.7 million
- First quarter operating income increased to $1.5 million, from a loss of ($2.0) million in the prior year period.
David Watza, President and CEO, commented, “We are pleased to announce record results for the first quarter of our 2018 fiscal year. This quarter represents the significant progress we have made since announcing our Financial Improvement Plan in 2016, reflecting the dramatic strides we have taken toward our long-term strategic growth and diversification objectives, as well as continued cost reductions. We are very proud of our team’s efforts as we have tied a record for first quarter revenue of $19.3 million, slightly exceeding the high end of the guidance we provided last quarter, and greatly improved our gross margin by 13.6% from the prior year period. Bookings also finished the period strong at $23.2 million, a record for our first quarter and matching a previously set record from the third quarter of fiscal 2017.”
For more information: www.perceptron.com