The SAES Getters Group, a world leader in a variety of scientific and industrial applications where stringent vacuum conditions or ultra-pure gases are required, has approved its third quarter 2007 results and recorded a quarterly consolidated sales increase of 12% against the same period last year.
Among other interests, the Milan-based group holds a leading position in ultra pure gas handling for the semiconductor and other hi-tech markets.
For the third quarter ending 30th September 2007, SAES Getters experienced consolidated net sales of €42.7m – a 12% rise when compared to €38.2m in the same period of 2006. Consolidated sales increased by 10.6% on a comparable consolidation basis, including the effect of the acquisition of the 50% shareholding in Dr-Ing Mertmann Memory-Metalle GmbH in May 2006 and the 51% shareholding in the joint venture Nanjing SAES Huadong Vacuum Material Co. Ltd in August 2006.
Consolidated operating income stood at €14.3m, down from €14.8m in the third quarter 2006 and impacted by higher research and development costs. Consolidated net income rose to €9m however, from €8.4m in the year-ago period.
Massimo della Porta, CEO at SAES Getters Group, said, “I am very satisfied with our quarterly results. The increase in sales was pulled significantly by a growth in liquid crystal displays components sales. Profitability ratios are substantially in line with the ones achieved in third quarter 2006 despite the negative impact of infavourable exchange rates, the pressure on prices and the continuing decline of traditional cathode ray tubes market. Our positive result was made possible by an increase in sales, the launch of new products granting higher margins and a better efficiency achieved during the year.”