Plymouth, Michigan-based Rofin-Sinar Technologies (NASDAQ: RSTI) reported better than expected results for its fiscal fourth quarter thanks to increased business from the semiconductor and electronics industries.
Rofin-Sinar, maker of laser tools, said that the Asian market for its products remain strong among many of its brands including Multiscan, Powerline and StarMark.
Net income at the company totaled $11.9 million, or 42 cents per share, compared with $5.3 million, or 18 cents per share in the previous year. Net sales were up to $124.4 million, or an increase of 37%.
Thomson Reuters analysts had projected earnings of 34 cents per share on $120.7 million in revenue.