CyberOptics Receives Orders Valued at $4.2 Million for 3D MX3000™ Systems
CyberOptics Corporation (Nasdaq: CYBE) has secured orders worth $4.2 million for its 3D MX3000™ memory module inspection systems from major subcontractors of a large memory manufacturer. Revenue from these orders is expected to be recognized in the second and third quarters of 2021. While these orders will positively impact earnings, they are projected to reduce the company's gross margin percentage by one to two points annually, due to the higher material handling and automation costs associated with 3D systems.
- Secured orders valued at $4.2 million for 3D MX3000 inspection systems.
- Expected revenue recognition in the second and third quarters of 2021.
- Projected reduction in gross margin percentage by 1-2 points annually due to higher costs.
CyberOptics Corporation (Nasdaq: CYBE) today announced that it recently received orders valued at
As previously disclosed, the gross margin percentage of the 3D MX3000 is lower than that of its 2D counterpart, reflecting the 3D system’s significantly higher content of material handling and automation hardware. These orders will be positive for earnings, however they are expected to reduce the company's gross margin percentage by one to two points on an annualized basis, given current levels of sales and gross margins.
CyberOptics will release its operating results for the fourth quarter of 2020 in the second half of February 2021.
About CyberOptics
CyberOptics Corporation (www.cyberoptics.com) is a leading global developer and manufacturer of high-precision 3D sensing technology solutions. CyberOptics’ sensors are used for inspection and metrology in the SMT and semiconductor markets to significantly improve yields and productivity. By leveraging its leading edge technologies, the Company has strategically established itself as a global leader in high precision 3D sensors, allowing CyberOptics to further increase its penetration of key vertical markets. Headquartered in Minneapolis, Minnesota, CyberOptics conducts worldwide operations through its facilities in North America, Asia and Europe.
Statements regarding the Company’s anticipated performance are forward-looking and therefore involve risks and uncertainties, including but not limited to: a possible world-wide recession or depression resulting from the economic consequences of the COVID-19 pandemic; the negative effect on our revenue and operating results of the COVID-19 crisis on our customers and suppliers and the global supply chain; market conditions in the global SMT and semiconductor capital equipment industries; trade relations between the United States and China and other countries; the timing of orders and shipments of our products, particularly our 3D MRS™ SQ3000 Multi-Function systems™ and MX systems for memory module inspection; increasing price competition and price pressure on our product sales, particularly our SMT systems; the level of orders from our OEM customers; the availability of parts required to meet customer orders; unanticipated product development challenges; the effect of world events on our sales, the majority of which are from foreign customers; rapid changes in technology in the electronics and semiconductor markets; product introductions and pricing by our competitors; the success of our 3D technology initiatives; the market acceptance of our SQ3000 Multi-Function™ inspection and measurement systems and products for semiconductor advanced packaging inspection and metrology; costly and time consuming litigation with third parties related to intellectual property infringement; the negative impact on our customers and suppliers due to past and future terrorist threats and attacks and any acts of war; the impact of the MX3000™ orders on our consolidated gross margin percentage in any future period; risks related to cancellation or renegotiation of orders we have received; and other factors set forth in the Company’s filings with the Securities and Exchange Commission.
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FAQ
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