Inficon has announced financial results for the second quarter ended June 30, 2007. Revenues for the second quarter of 2007 totaled USD 57.2 million compared to USD 52.8 million for the second quarter of 2006, representing an 8.3 percent increase. On a constant dollar basis, revenues for the quarter increased 7.2 percent. Net income increased 23.9 percent to USD 5.5 million, or USD 2.33 per diluted share, compared to USD 4.5 million, or USD 1.89 per diluted share, in the second quarter of 2006. Cash provided by operating activities was USD 7.6 million compared to USD 4.8 million in the same quarter last year.
Revenues for the six months ended June 30, 2007 were USD 115.0 million compared to USD 101.5 million for the same period in 2006, representing a 13.3 percent increase. On a constant dollar basis, revenues increased 11.3 percent. Net income for the period increased 33.2 percent to USD 12.4 million, or USD 5.18 per diluted share, compared to net income of USD 9.3 million, or USD 3.91 per diluted share, the previous year.
Lukas Winkler, president and chief executive officer, commented: "Our second-quarter results reflect the continued successful execution of our growth strategy. The increased focus on R&D represents an important investment in our company's future, enabling us to introduce groundbreaking products and capitalize on the many growth opportunities in our markets.
"Sales in the semiconductor and vacuum coating markets continued to show strength with demand for our most advanced leak detection and vacuum control products especially strong. The Best Product Award we just received from for FabGuard FDC - powerful software for on-line fault detection and classification (FDC) in semiconductor manufacturing - illustrates the ability of our products to significantly improve our customers' processes and yields. And at the SEMICON West trade show, we introduced new products, expanding our line of innovative SKY CDG capacitance diaphragm gauges and featuring the Sion RF Detector - the only ultra-fast, ultra-small plasma arc detector.
"Another highlight of this quarter was our acquisition and rapidly progressing integration of Maxtek, a developer and manufacturer of high-quality thin film deposition and measurement instruments. This strategic addition to Inficon's product portfolio enables us to provide a more complete product range for thin film coating processes which are vital for the manufacturing of eyeglasses and precision optic products.
"We experienced another good quarter in the general vacuum market, where Inficon supplies vacuum gauges, leak detectors and gas analyzers to private label partners who sell to a wide variety of sectors. In summary, Inficon is on track to achieve our previously announced revenue and operating margin goals for 2007."
