Sales of equipment to the PCB industry relating to bare PCBs in the fourth quarter of 2005 were $ 38.4 million, compared with $ 37.3 million in the third quarter of 2005 and $ 32.7 million in the fourth quarter of 2004. Sales of equipment to the PCB industry relating to assembled PCBs were $ 8.4 million, compared with $ 9.1 million in the third quarter of 2005 and $ 8.3 million in the fourth quarter of 2004.
Sales of FPD inspection equipment in the fourth quarter of 2005 were $ 28.1 million, compared with $ 26.3 million in the third quarter of 2005 and $26.4 million in the fourth quarter of 2004. Sales of automatic check reading products in the fourth quarter of 2005 were $ 2.1 million, compared with $ 1.6 million in the third quarter of 2005 and $ 2.0 million in the fourth quarter of 2004.
In addition, service revenue for the fourth quarter of 2005 was $19.3 million, unchanged from the third quarter of 2005 and up from the $18.4 million in the fourth quarter of 2004.
The company completed the quarter with cash equivalents and marketable securities of approximately $ 211 million, compared with approximately $ 201 million at the end of the third quarter, due principally to positive operating cash flow for the quarter of approximately $ 18.8 million.
The company’s results for the fourth quarter close out a year in which the company posted record revenues, reflecting both the very positive worldwide business environment and the strong ability of the company to capitalize on the resulting opportunities. PCB and FPD manufacturing customers have been reporting high utilization levels and strong demand for their products, particularly electronic devices utilizing the latest technological enhancements.
Demand for the company’s sophisticated and advanced PCB-AOI products remains strong, as evidenced by the recent receipt of major orders from two large bare PCB manufacturers in the Far East for AOI and Direct Imaging equipment totaling approximately $ 20 million, to be delivered mainly during 2006.
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