BACKLOG (in millions) |
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As of |
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Geographic Region |
6/30/2015 |
3/31/2015 |
12/31/2014 |
9/30/2014 |
6/30/2014 |
Americas |
$ 10.4 |
$ 13.2 |
$ 10.8 |
$ 14.8 |
$ 10.3 |
Europe |
15.4 |
17.6 |
14.2 |
21.2 |
17.3 |
Asia |
13.1 |
12.3 |
14.0 |
13.8 |
11.7 |
Total Backlog |
$ 38.9 |
$ 43.1 |
$ 39.0 |
$ 49.8 |
$ 39.3 |
Backlog decreased $4.2 million from the prior quarter because fourth quarter sales exceeded bookings during the quarter. Backlog included $3.8 million of CMM related orders. Generally, the Company expects to see a shorter time between receiving an order for CMMs and related software and when the order is fulfilled and revenue is booked than, it experiences with its other products. Orders taken early in a quarter for these business areas typically would be fulfilled by quarter end and, as a result, do not appear in period-end backlog. The Company is comfortable with the level of backlog, which it believes supports the Company’s sales expectations for fiscal 2016. The level of backlog at any particular point in time is not necessarily indicative of the future operating performance of the Company.
SALES (in millions)
|
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|
Fourth Quarter ended June 30 |
Full Year ended June 30 |
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Geographic Region |
Fiscal 2015 |
Fiscal 2014 |
Change |
Fiscal 2015 |
Fiscal 2014 |
Change |
Americas |
$ 9.5 |
$ 6.1 |
$ 3.4 |
$ 28.4 |
$ 18.3 |
$10.1 |
Europe |
9.6 |
7.8 |
1.8 |
29.7 |
27.8 |
1.9 |
Asia |
4.3 |
3.5 |
0.8 |
16.3 |
13.5 |
2.8 |
Total Sales |
$23.4 |
$17.4 |
$ 6.0 |
$ 74.4 |
$ 59.6 |
$14.8 |
Sales were $6.0 million higher in the fourth quarter of 2015 versus the same quarter last year. CMM related sales added $4.4 million in the fourth quarter of fiscal 2015. Sales for full-year 2015 were a record $74.4 million, rising $14.8 million, or 25%, from the comparable period in fiscal 2014. The year-to-date improvement included $5.8 million of CMM related sales, and $9.0million from strong global growth of existing business. These increases were partially offset by $3.4 million of reduced organic sales from the negative foreign currency exchange impacts caused by the weakening of the Euro in fiscal 2015 compared to fiscal 2014. The Company’s sales levels fluctuate from quarter-to-quarter due to requested delivery schedules from our customers.
INCOME STATEMENT KEY METRICS (in millions)
|
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|
Fourth Quarter ended June 30 |
Full Year ended June 30 |
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|
Fiscal 2015 |
Fiscal 2014 |
Change |
Fiscal 2015 |
Fiscal 2014 |
Change |
Gross Profit |
$ 9.3 |
$ 7.4 |
$ 1.9 |
$ 28.3 |
$ 24.8 |
$ 3.5 |
As a percent of sales
|
39.6% |
42.7% |
(3.1) pct. pts. |
38.0% |
41.7% |
(3.7) pct. pts. |
Operating Income (Loss) |
$ 0.7 |
$ 1.4 |
$ (0.7) |
$ 0.0 |
$ 2.9 |
$ (2.9) |
Net Income (Loss) |
$ 0.4 |
$0.9 |
$ (0.5) |
$ (0.5) |
$ 2.4 |
$ (2.9) |