Thursday, Industrial laser beam source manufacturer ROFIN-SINAR Technologies Inc. (RSTI) reported a decrease in first-quarter earnings, which topped analysts' estimates. Quarterly sales declined 21%, due to the impact of the strengthening US dollar mainly against the Euro.
The Plymouth, Michigan-based company reported net income for the first quarter of $7.65 million or $0.26 per share, down from $16.9 million or $0.53 per share in the corresponding quarter of the previous year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.20 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter declined 21% to $106.9 million from $134.7 million reported in the same quarter of last year. Analysts had a consensus revenue estimate of $101.35 million.
The impact of the strengthening US dollar, mainly against the Euro, resulted in a decrease in net sales of $7.8 million in the first quarter.
Sales of laser products used for Macro applications decreased 32% to $41.4 million, accounting for 39% of total sales. Sales of lasers for Marking and Micro applications fell 14% to $54.6 million and represented 51% of total revenues. Components sales rose 9% to $11.0 million and represented 10% of total revenues.
On a geographical basis, net sales in North America decreased by 32% and totaled $18.6 million. In Europe, net sales decreased by 8% to $68.6 million and in Asia, net sales decreased by 40% to $19.8 million.
Gross profit for the quarter totaled $42.0 million, or 39% of net sales, compared to $58.7 million, or 44% of net sales in the same quarter last year.
RSTI closed Thursday's regular trading session at $17.00, up $0.42 or 2.53%. However, the stock lost $0.22 or 1.28 per share in the after-hour trade.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.