Property Sale Propels Riber Into Profit
MBE equipment specialist Riber swung to a net profit of €10.4 million ($13.8 million) in 2006.
The French firm had made a net loss of €0.9 million in the previous year, but the 2006 figures were skewed by Riber's move into a new location. The switch netted €10.6 million in property sales.
On an operating basis, Riber broke even after a drop in sales of research equipment in 2006 was more than offset by a strong upturn in sales of production equipment, particularly to the US.
Total 2006 sales came in at €20 million, up 14 percent on 2005. Thanks to a doubling of orders from US customers, production sales rose 57 percent to €9.6 million.
On the down side, the weak dollar hurt Riber's gross profit margin, while revenue from sales of research MBE equipment also fell 14 percent to €5.1 million. Accessories and spare parts accounted for the remainder of Riber's earnings.
Currently with an order backlog of €8.5 million, Riber is expecting its revenue for fiscal 2007 to be flat or slightly down on the 2006 figure, although an improved operating profit is anticipated.