Advanced thermal processing equipment supplier, BTU International has reported first quarter 2014 sales of US$11.7 million, up 6.3% compared the previous quarter.
The majority of business was generated from its electronics manufacturing segment, while the company noted that it remained cautious about capital expenditure increases in the PV sector.
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The company reported a net loss for the quarter of US$1.8 million, compared to a net loss of US$3.0 million in the previous quarter.
“Expense reductions coupled with somewhat higher revenues resulted in a reduction of our operating losses compared to the fourth quarter of 2013,” said Paul J. van der Wansem, BTU chairman and CEO. “As in the past year, we are still burdened by the lack of revenues from the solar equipment market due to a continuing imbalance between demand and supply. Electronic assembly equipment revenues were the main contributor to our business volume.”
However, management noted despite the lack of solar segment revenues it was more optimistic about single equipment orders for pilot line facilities working on advanced solar cell structures, noting that at the upcoming SNEC show in Shanghai it would be announcing progress of inline diffusion R&D developments with Fraunhofer ISE.
In the second quarter, BTU noted that revenues were expected to be up significantly in the US$14 to US$15 million range due to orders from electronics assembly customers.