Oxford Instruments H2 Earnings Call Highlights

Oxford Instruments (LON:OXIG) said it delivered a stronger 2nd fractional aft a hard commencement to the year, arsenic improving request from commercialized semiconductor customers helped offset weaker world markets and geopolitical uncertainty.

Chief Executive Richard Tyson told investors the institution was “really pleased” with the full-year results, saying they capped “a bully year” contempt headwinds that peculiarly affected the Imaging & Analysis part aboriginal successful the period. Tyson said the twelvemonth ended “slightly up of expectations,” with quarter-on-quarter betterment successful bid intake and second-half orders up 8%.

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Chief Financial Officer Paul Fry said that, connected an integrated changeless currency ground and excluding the divested NanoScience business, radical bid intake roseate 8% for the afloat twelvemonth and 14% successful the 2nd half. Revenue declined 3% astatine changeless currency, reflecting the timing of bid betterment and the signifier of the Advanced Technologies bid book, but the institution said gross borderline improved by 30 ground points and currency conversion remained beardown astatine 89%.

Advanced Technologies benefits from semiconductor request

Oxford Instruments reported the strongest momentum successful Advanced Technologies, wherever bid intake roseate 28% for the afloat year. Tyson said the institution had made “significant progress” shifting the part toward high-volume manufacturing customers, which accounted for each of the measurement improvement.

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Fry said request from commercialized customers, particularly high-volume manufacturing applications, was a large contributor to the division’s growth. He cited instrumentality request for datacom applications and augmented oregon virtual world glasses, saying bid intake for those 2 applications doubled from the anterior year.