Cyberoptics Corp (CYBE) Sees Q1 Revenue Doubling; Expects 'Strong' Profitability

CyberOptics Corporation (Nasdaq: CYBE) reported that it is forecasting revenues of $18.6-$19.1 million and strong profitability for the first quarter of 2016 ended March 31, compared to revenues of $9.5 million in the first quarter of 2015.

First quarter revenues include approximately $2.5 million from the year-end 2015 backlog of MX600 memory module inspection systems and strong sales of SQ3000 automated optical inspection (AOI) systems.

CyberOptics announced that it has received an additional order of approximately $2.4 million for MX600 systems. Revenues from this order are expected to be recognized in the second half of 2016.

Subodh Kulkarni, president and chief executive officer, commented: “Although our quarterly results will fluctuate somewhat on a sequential basis, reflecting the pace of new orders and customer acceptance of our MX600 backlog, we continue to expect strong year over year revenue growth in the second quarter and for all of 2016, and strongly improved operating results.”

CyberOptics will release its operating results for the first quarter of 2016 on April 28.

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