INFICON Repeats Strong Q1 2011 Results

  • Q2 2011 sales up 34.9% to USD 81.8 million, achieving the prior quarter’s record level
  • Operating income of USD 15.2 million equals margin of 18.6% of sales
  • Increasing guidance for FY 2011 despite expected weakening in second half-year:
    • Sales range from USD 290 – 315 million, operating income from USD 47 – 55 million
  • Half-year Report available as download at

Bad Ragaz/Switzerland, August 9, 2011.

Continually Strong Sales Increase
INFICON Holding AG (SIX Swiss Exchange: IFCN) recorded significant sales increases in its major target markets and closed the second quarter 2011 with a sales increase of +34.9% to USD 81.8 million. Q2 2011 sales thus remained on the excellent level achieved in the first three months of 2011. Adjusted for acquisition effects (3.5 percentage points) and exchange rate impacts (10.8 percentage points), the Q2 2011 sales increase was somewhat lower than in the preceding three months.

Significant Growth in Important Target Markets
Sales recorded in the industrially and geographically broad based market for General Vacuum applications rose +49.6% to USD 35.0 million compared with the same period last year. Revenues generated with shipments to Specific Vacuum Process Industries including the semiconductor, display, LED/OLED manufacturers, as well as the optical coating and solar industries grew by +33.6% to USD 29.8 million. Semiconductor equipment manufacturers started to adopt a somewhat more cautious investment policy. Based on the demand from Asia, sales to the Refrigeration & Air Conditioning market increased +29.0% to USD 12.9 million compared with the prior year period. INFICON’s smallest target market, Emergency Response & Security, recorded -16.3% lower sales compared with the same period last year, yet with USD 4.1 million a slight revenue increase over the preceding quarter.

Stronger Operating Income and Solid Cash Flow
INFICON achieved in the reporting period an operating income of USD 15.2 million, representing 18.6% of sales, after an operating income of USD 8.2 million or 13.5% of sales in the second quarter of last year. The cash flow from operations stood at USD 8.9 million after USD 10.4 mil-lion in the prior year’s second quarter. INFICON continued to manage inventory turns and days sales outstanding, keeping the net working capital at around 20% of sales. INFICON closed the period with cash and cash equivalents of USD 80.1 million. The balance sheet continues to be solid, as highlighted by an equity ratio of 69.7%.

Compared with the second quarter of 2010, net income for the period rose by +83% to USD 10.8 million. Fully diluted, this equates earnings per share of USD 4.90, up from USD 2.72 a year ago.

INFICON is well positioned to sustainably seize upcoming market opportunities in all its target markets. In the current year, INFICON has successfully strengthened and partially expanded its market position and entered new attractive markets with new applications. Short-term market development may weaken against the backdrop of the continued economic and foreign exchange rate uncertainties; the developments are cautiously monitored. For the full year 2011, INFICON currently expects significantly stronger results than the record levels of 2010 and accordingly increases its guidance: Currently projected are a full year sales volume of USD 290 – 315 million and an operating income of USD 47 – 55 million.

Half-year Report 2011
The Half-year Report with full financial information is available for download at

Conference Call and Webcast Today at 09:30 a.m. CEST
INFICON will discuss its detailed quarterly results today in a conference call scheduled for 09:30 a.m. CEST. The local dial-in numbers are as follows: Continental Europe: +41 (0)91 610 41 11; UK: +44 (0)203 059 58 64; USA (Toll free): +1 (1) 866 666 56 64. All participants should dial in at least 10 minutes prior to the call. There is no pin required to access the call. A live webcast of the conference call and the presentation visuals (as from 07:00 a.m. CEST) are available in the Investors section of the INFICON website where the webcast will also be archived and available on demand approximately one hour after the end of the conference. The conference call can be accessed via

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