SAES Getters S.p.A. has announced that the Board of Directors approved consolidated results for the fourth quarter 2007 of 1st October to 31st December and consolidated net sales were €42.7m for the period.
The net sales displayed a decrease of 2% compared to €43.6m in the year-ago period, but increased by 3.2% excluding the exchange rate effect. Consolidated sales decreased by 4% on a comparable consolidation basis, including the effect of the acquisition of a 50% shareholding in Dr.-Ing. Mertmann Memory-Metalle GmbH in May 2006, a 51% shareholding in the joint venture Nanjing SAES Huadong Vacuum Material Co. Ltd. in August 2006 and the acquisition of the ongoing concern by SAES Opto Materials S.r.l. in May 2007.
Consolidated operating income stood at €9.1 million, compared to €12.2 million in the fourth quarter 2006, while consolidated net income was €7.4 million from €8.6 million in the year-ago period.
The Board of Directors has also appointed Professor Pietro Mazzola as Non-Executive Director of SAES Getters S.p.A., in replacement of Mr. Roberto Berger.
Meanwhile the company has also announced the signature of a contract for the acquisition of Spectra-Mat Inc, located in Watsonville, California. The acquisition will be made through the controlled company SAES Getters USA Inc, with the purchase price of the stock deal equal to $5.9m and increased by an adjusted net financial position to be paid in cash at the closing, expected to take place on 22nd February 2008.
Spectra-Mat manufactures and supplies vacuum components for the telecommunication,
medical and military markets, devices for capital equipment for the semiconductor industry and advanced materials for the industrial laser market. In fiscal year 2007 Spectra-Mat sales were $7.5m, with the company performing 10% operating income and substantially break-even at net level.