PERCEPTRON REPORTS RECORD SALES AND 25% SALES GROWTH; REPORTS FOURTH-QUARTER AND FISCAL YEAR 2015 RESULTS

Plymouth, Michigan, August 26, 2015 – Perceptron, Inc. (NASDAQ: PRCP) today announced results for the fourth quarter and 2015 fiscal year ended June 30, 2015.

Perceptron’s fiscal year 2015 sales of $74.4 million were up 25% from $59.6 million in fiscal year 2014, exceeding the Company’s full-year guidance, and marking a new record high.  Organic sales were up 15% in fiscal 2015 andwould have been $3.4 million or 6% higher if foreign currency exchange rates had remained constant year over year.

FINANCIAL HIGHLIGHTS (in millions, except per share data)

 

 

   Fourth Quarter ended June 30

Full Year ended June 30

 

Fiscal 2015

Fiscal 2014

Change

Fiscal 2015

Fiscal 2014

Change

Revenue

$  23.4

$  17.4

$  6.0

$  74.4

$  59.6

$  14.8

Net Income (Loss)

 0.4

      0.9

     (0.5)

      (0.5)

      2.4

      (2.9)

 

 

 

 

 

 

 

Diluted Earnings (Loss) per Share

$  0.04

$  0.10

$(0.06)

 $ (0.05)

$  0.26

$  (0.31)

Jeff Armstrong, President and CEO, commented, “We are clearly pleased to report record revenue and such strong year-over-year growth despite our significant exposure to the Euro.  Our organic growth was highlighted by outstanding performance in North America and continued strength in China.  Overall growth also benefited from steady revenue contributions from our newly acquired COORD3 and Next Metrology businesses.  Over time, we anticipate that higher sales of our coordinate measurement machine (CMM) and 3D-measurement products will tend to mitigate the quarterly variability of our In Line measurement and automation businesses.

“This has been a breakout year for Perceptron in many respects, showing the results of a tremendous amount of work by our leadership and global teams.  These results also are tangible evidence that the strategic plan we implemented in 2014 is working to rapidly move the Company forward.

“This year we successfully completed our first acquisitions in over 15 years, introduced more new, market-leading products than any similar period in our history, launched a global ERP system implementation, and diversified our business in a very meaningful fashion, with approximately 20% of full-year revenue from non-automotive sector customers.

Armstrong continued, “We continue to invest in business growth and in achieving our profitability goals.  Excluding $1 millionof currency impact and nearly $3 million of non-recurring expenses, our operating income would have been in-line with the improving profitability trend we had forecast.

“For fiscal year 2016, we foresee double-digit revenue growth as we expand our sales channels and start to see contributions from new products.  We will continue to monitor the effects of changes in the Chinese and European economies on our business, but currently believe these can be overcome,” Armstrong added.

Highlights of Operations

BOOKINGS (in millions)

 

 

Fourth Quarter ended June 30

Full Year ended June 30

Geographic Region

Fiscal 2015

Fiscal 2014

Change

Fiscal 2015

Fiscal 2014

Change

  Americas

$  6.7

$  5.6

$  1.1

$  28.5

$  20.4

$   8.1

  Europe

    7.5

   11.2

    (3.7)

   22.9

    31.9

    (9.0)

  Asia

    5.1

    3.6

    1.5

    17.7

    16.2

    1.5

Total Bookings

$ 19.3

$ 20.4

$ (1.1)

$ 69.1

$ 68.5

$   0.6


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