Investor Presentation

Transcription

Dr. Subodh Kulkarni, CEO
Jeff Bertelsen, CFO/COO
Nasdaq: CYBE
April 2015
© 2015 CyberOptics, All Rights Reserved - Confidential
Forward-Looking Statements
Statements regarding the Company’s anticipated performance are forwardlooking and therefore involve risks and uncertainties, including but not limited
to: market conditions in the global SMT and semiconductor capital equipment
industries; increasing price competition and price pressure on our product
sales, particularly our SMT systems; the level of orders from our OEM
customers; the availability of parts required to meet customer orders;
unanticipated product development challenges; the effect of world events on
our sales, the majority of which are from foreign customers; rapid changes in
technology in the electronics markets; product introductions and pricing by
our competitors; the success of our 3D technology initiatives; expectations
regarding LDI and its impact on our operations; integration risks associated
with LDI; forecasts for significant sales and bottom line improvements in the
second quarter on a sequential basis and profitability for the rest of 2015 and
at least 10% growth in sales and at least break-even operating results for 2015
and other factors set forth in the Company’s filings with the Securities and
Exchange Commission.
2
Agenda
• Key Messages/Vision/Strategy
• CyberOptics Overview
• Core Technology/Markets
• Financials/Summary
3
3
CyberOptics Vision and Strategy
Vision
To be the global technology leader in high precision 3D sensors
Advanced Multi-reflection Suppression (MRS) 3D Optical Sensor
Strategy
Deliver profitable growth by developing and manufacturing high
precision proprietary 3D sensors and leveraging them in key vertical
markets
4
4
CyberOptics Investment Opportunity Summary
 CyberOptics is poised for significant profitable growth
 Solid growth in ‘14
 ‘15 guidance: At least 10% growth in sales and at least break-even operating results
 Developed Multi-reflection suppression (MRS) ground breaking 3D optical sensor technology with
significant long term potential
 Signed mutually exclusive long term sensor supply agreement with KLA-Tencor for
Semiconductor back-end inspection, validating technology capability
 Launching products in fast growing markets with MRS: 3D AOI in Q2 ‘15 and 3D Scanner in 2nd
half ‘15
 Strong balance sheet to support growth opportunities
5
5
Agenda
6
6
CyberOptics Overview
2014 Revenue by Product Line
• Founded in 1984 (Nasdaq – CYBE)
• Key verticals in SMT, Semiconductor and Metrology
(with recent LDI acquisition)
Semiconductor
Sensors
16%
• 166 employees worldwide in Minneapolis, Singapore,
China, UK
• CYBE key financial metrics
– 2014 Revenue: $46.5M - 24% organic growth
– At least 10% growth in sales and at least breakeven operating results anticipated for 2015
– Strong balance sheet
– $18.4M in cash and no debt
Metrology
12%
SMT Inspection
Systems
39%
SMT Sensors
33%
2014 Sales: $46.5M
2014 Revenue by Region
Americas
29%
Other 1%
Asia
44%
Europe
25%
7
7
Global Locations/ Global Support
CyberOptics Corporation
Corporate Headquarters, Global R&D,
Sensor Manufacturing
Minneapolis, MN
Americas Sales &
Support
Minneapolis, MN
LDI/GKS General
Metrology Markets
Minneapolis, MN
EU Sales & Support
Skipton, UK
Systems
R&D, Manufacturing,
Sales & Support
Singapore
China Sales & Support
Kunshan China
Worldwide Network of Channel Partners
45 Locations in 25 Countries
8
8
Broad Product Portfolio
SMT Sensor Examples
SMT Inspection System
Examples
Semi Sensor Examples
3D Metrology Examples
9
9
World Class Customer Base
SMT Sensors
SMT Inspection Systems
Semi Sensors
3D Metrology
10
10
Agenda
11
11
3D High Precision Sensors Forming
Core Technology of New CyberOptics
SMT
•
Solder Paste Inspection (SPI)
•
Advanced 3D Sensor
with MRS
Metrology
•
•
•
General Purpose
Metrology
3D High
Precision
Strategy
Sensors
Semiconductor
•
3D Scanning Services
Automated Optical
Inspection (AOI)
•
WaferSense and
ReticleSense
Wireless MEMS Sensors
LDI Acquisition Closed
March 14, 2014
12
12
3D High Precision Sensors
Current business: Customized sensors enable SMT OEMs (Juki,
Assembléon/K&S, DEK/ASMPT, etc.) to improve component placement
speed and accuracy during PCB manufacturing
- Current business of ~$15M; Trajectory: Growing
SMT
Metrology
3D High
Precision
Strateg
Sensors
Semiconductor
y
Current
New proprietary MRS sensors being launched now enable significantly higher
speed and accuracy in full color 3D: microscopic quality images at production
speeds
– Expect growth to accelerate with new OEM opportunities
– Signed long term mutually exclusive agreement with KLA-Tencor
(market share leader in Semi inspection) to provide sensors for
Semiconductor back-end inspection
– More OEM opportunities in SMT, Metrology and other areas
Future
The Next Hot Thing: “Sensors” – WSJ, Sep ’14
Trillion Sensors by ‘18 – EE Times, Oct ’13
Internet of Things Enabler: “Sensors” –
Consumer Tech, Dec ’14
13
13
MRS Sensor: Breakthrough 3D Sensor for Unmatched Speed and Accuracy
Architecturally Superior
Multi-View 3D Sensor
Multiple Reflection Suppression
3D Image Fusing Algorithms
Enables Speed Advantage with
Parallel Acquisition
Eliminates Measurement
Inaccuracies
Merges 3D Images for High Precision
Images and Superior Accuracy
14
MRS Sensor Application Examples
SMT 3D Inspection
•
•
Semi Back-end Inspection
3D Scanning
Speed of 40 cm2/sec with migration path for improvement
Accuracy of <10 mm in xy, and <1 mm in z dimension, with migration path for improvement
15
15
SMT Inspection Systems
•
–
–
SMT
Metrology
3D High
Precision
Strate
Sensors
Current business (SPI/2D AOI) of ~$18M
•
Strategy is to grow business with unique technology enabled differentiation
–
Semiconductor
gy
–
–
SQ3000 - 3D AOI
Small market share in global $540M fragmented SPI/AOI market growing at 3-5%
3D AOI segment: About $60M business today growing at ~40% CAGR
Launching uniquely differentiated 3D AOI (SQ 3000) now with higher speed and better accuracy,
addressing portfolio deficiency and enabling share growth
First Memory Module Inspection System (MX600) shipped to customer – awaiting acceptance
• Backlog of ~$3.5M for MX600 (Apr ‘15)
• Global market potential of ~$50+M growing at ~25%
Cyber Sensor Kit for SMT Customers for 2D AOI Applications, Final Inspection, etc.
MX600 – Memory Module Inspection
Sensor Kit
16
16
Semiconductor Sensors
•
SMT
Metrology
3D High
Precision
Strate
Sensors
Current business: Proprietary WaferSense/ReticleSense portfolio of
products is available to improve yield and productivity for
semiconductor customers
–
–
–
Semiconductor •
gy
Gapping, Teaching, Leveling, Vibration and Particle Monitoring applications
No real competition
Current business:~$8M; Trajectory: Solid growth
Growth strategy
–
–
Increasing awareness
Refreshing portfolio with better performance sensors and new applications
•
•
–
APSRQ launched in Q1 ‘15 to detect particles during lithography
ALVSH (Vibration/Leveling/Humidity) to be launched in Q3 ‘15
Penetrating Flat Panel Display and LED customers
17
17
Metrology Systems and Scanning Services
•
SMT
Metrology
3D High
Precision
Strate
Sensors
LDI acquisition completed in Mar ‘14 enabled 3D scanner and scanning
services business of ~$6M growing modestly
–
Semiconductor •
gy
Acquired for $3.1M cash
Launching significantly faster and more accurate 3D scanner (CyberGage
360) in 2nd half ‘15 leveraging MRS sensor technology
–
3D scanners & metrology services is a large ~1+B market growing
at 10+%
–
Market potential for CyberGage 360 seems high with many
applications: First article inspection, Incoming goods Quality
Assurance, 3D Printing Quality Assurance, etc.
18
18
Agenda
19
19
CYBE Financial Overview
At least 10% Growth in Sales and At Least Break-Even Operating Results anticipated for 2015
Significant Sequential Sales and Bottom Line Improvements in Q2 2015
Anticipating Profitability for the Remainder of 2015
$60
Revenue
Operating loss
$50
$40
$46.5
$33.3
($1.5)
$30
$15
Revenue
Operating loss
$10
-$2.0
$9.8
$9.5
$5
($0.7)
($0.8)
-$8.0
2014
-$1.0
-$1.5
($6.2)
2013
$0.0
-$0.5
-$6.0
$0
$1.0
$0.5
$0.0
-$4.0
$20
$10
$2.0
$0
$ in millions
-$2.0
1Q 14
1Q 15
LDI: 2014 Revenue Contribution of $5.3M since acquisition on March 14, 2014
20
20
CYBE Financials Outlook
•
At least 10% growth in sales/break-even operating results anticipated in 2015
– Significant Sequential Sales and Bottom Line Improvements in Q2 2015
– Anticipating Profitability for the Remainder of 2015
•
Confident of achieving longer-term goal of sustained profitable growth
•
New sensor technologies/products will enable future growth
– MRS: KLA Tencor for back-end Semi. Other new potential OEM applications.
– SQ3000: 3D AOI enabled by MRS – high growth segment of SMT market.
– CyberGage360: 3D scanning enabled by MRS – New metrology opportunity.
– MX600: Post-singulation memory inspection enabled by 2D SIM technology.
•
Strong balance sheet with significant cash resources ($18.4M) and no debt
21
21
CyberOptics Investment Opportunity Summary
 CyberOptics is poised for significant profitable growth
 Solid growth in ‘14
 ‘15 guidance: At least 10% growth in sales and at least break-even operating results
 Developed Multi-reflection suppression (MRS) ground breaking 3D optical sensor technology with
significant long term potential
 Signed mutually exclusive long term sensor supply agreement with KLA-Tencor for
Semiconductor back-end inspection, validating technology capability
 Launching products in fast growing markets with MRS: 3D AOI in Q2 ‘15 and 3D Scanner in 2nd
half ‘15
 Strong balance sheet to support growth opportunities
22
22
Thank You!
Nasdaq: CYBE
April 2015

Investor Presentation

Transcription

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