LPKF Laser & Electronics AG : Promising product rollouts; estimates adjusted; Neutral rating maintained, new TP of € 7.00 (€ 7.20)
>Final Q3 18 revenue in line with prelim. figure, EBIT above our estimate - LPKF reported its final Q3 2018 results on 15 Nov. Revenues were up +10.5% yoy to € 29.3m, in line with the prelim. figure (11 Oct). EBIT was basically flat at € 2.7m (Q3 2017 € 2.8m) but beat our estimate of € 2.3m.9M 2018 results: incoming orders were up +14% yoy to € 103.9m and orders on hand were also up 14% yoy to € 54.4m, continuing the positive trend of Q1 and Q2. 9M 2018 revenues ...LPKF Laser & Electronics is a mechanical engineering company engaged in designing and manufacturing of laser systems. Co. operates in three segments: electronics development equipment, which involves the production and marketing of circuit board plotters; electronics production equipment, which comprises the product lines of Laser Direct Structuring, StencilLasers and Printed Circuit Board Production lasers; and other production equipment, in which Co. develops and sells laser systems for welding plastic components as well as laser systems for structuring thin film solar cells.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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