(July 26, 2005) North Billerica, Mass. — BTU International, Inc. announces its financial results for the second quarter, which ended July 3, 2005. Net sales for the quarter were $15.8 million, up 24% compared to $12.8 million in the previous quarter, and up 11% compared to $14.3 million in the same period one year ago.
Net income was $770,000, or $0.11 per share, compared to a net loss of $892,000, or $0.12 per share, in the second quarter of 2004. Net income was up 361% compared to net income of $167,000, or $0.02 per share, in the preceding quarter. Net sales for the first six months of 2005 were $28.6 million, an increase of 12% compared to the same period last year. Net income for the six months ended July 3, 2005 was $937,000, or $0.13 per share, compared to a loss of $1.9 million, or a loss of $0.26 per share, for the first six months of 2004.
“We are pleased with the progress we are making in bringing cost under control, improving our results, and globalizing our business,” says Paul J. van der Wansem, BTU’s chairman and CEO. “Our visibility into the future remains limited, but we continue to see strength in most of our markets. Based on our current knowledge, we expect third-quarter sales to be equal or better than the second quarter, with profits improving in line with revenue growth.”