The upward trend at Silicon Sensor, which has already been visible in the fourth quarter of the last year, continued in the past quarter. Sales of Euro 8.9 million meant an increase of 28 % against the first quarter of last financial year. Operating result (EBIT) almost doubled compared to Q1 2009 (0.5 million Euro vs. 0.3 million Euro). Three months surplus tripled to 0.2 million Euro (0.06 million Euro). Orders outstanding also reflect the upward trend: the value rose by 26 % to 15.9 million Euro compared to 12.5 million Euro a/o March 31, 2009. The balance continued to increase up to date.
A positive cash flow from current business activities of 1.0 million Euro has been achieved in the first quarter (-0.7 million Euro in the pervious year’s period). With total equity of 35.7 million Euro, which means an equity ratio of 58 %, and liquid funds of 17.5 million Euro, the group sees itself well prepared for future growth. Furthermore, important strategic measures in the fields of overhead cost reductions, expansion of sales activities and improvement of organizational efficiency have been completed in the last months and will improve performance in upcoming periods.
With acquisition of First Sensor Technology GmbH Silicon Sensor has enhanced its product range in the important next generation fields of MEMS sensor technology (pressure, inclination and acceleration sensors). The results of First Sensor will be consolidated in the group closing starting Q2 2010.
For the current year we expect sales in the range of 38 to 40 million Euro with a seven digit EBIT. Organic growth rate in the upcoming years is expected to be 20 %. Return on sales shall exceed 10 % as soon as possible.
The complete quarterly report can bee seen at http://www.silicon-sensor.de/ir.php. For more information please visit our website at: http://www.silicon-sensor.com or call +49-(0)30/63 99 23 710.
Silicon Sensor International AG
Board of Directors
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