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CYBE - CyberOptics +12% after Q1 beats; minimal impact of pandemic
CyberOptics Corporation
CyberOptics (NASDAQ:CYBE) reports Q1 beats with 9.5% Y/Y revenue growth.
Sales of inspection and metrology systems in Q1 totaled $8.4M (+18% Y/Y); Sales of 3D and 2D sensors at $4.1M (+10% Y/Y); Sales of semiconductor sensors at $3.9M, down modestly Y/Y.
Q1 record order backlog of $24.8M ($17.7M at the end of the Q4).
CYBE expects Q2 sales in the range of $15.5 to $17.5M vs. a consensus of $15.76M.
Dr. Subodh Kulkarni, president and CEO: "We believe the Q220 should be another strong period for CyberOptics. The COVID-19 pandemic has had a minimal impact on our business thus far, despite the resulting difficulties with global travel and shipping. We are closely monitoring this health crisis and its impact on our business in coming months.”