Factors and Trends That Affect Our Operations and Financial Results
In reading our financial statements, you should be aware of the following factors and trends that our management believes are important in understanding our financial performance.
•As our products mature, we can experience additional competition which tends to decrease average selling prices and affects gross margin;
•Higher power lasers also use a greater number of optical components, improving absorption of fixed overhead costs and enabling economies of scale in manufacturing;
•The gross margin for certain specialty products may be higher because there are fewer or sometimes no equivalent competing products;
•Gross margin on systems and communication components can be lower than gross margin for our laser and amplifier sources, depending on the configuration, volume and competitive forces, among other factors; and finally,
Results of Operations for the Three Months Ended June 30, 2022 Compared to the Three Months Ended June 30, 2021
The table below sets forth sales by application:
The table below sets forth sales by type of product and other revenue:
•QCW laser sales decreased due to lower demand in fine processing for consumer electronics applications.
•The increase of revenue in laser and non-laser systems was attributable to higher demand for laser systems and LightWELD.
•Other revenue for materials processing increased due to higher sales of options and accessories.
Results of Operations for the Six Months Ended June 30, 2022 Compared to the Six Months Ended June 30, 2021
The table below sets forth sales by application:
The table below sets forth sales by type of product and other revenue:
•The increase in medium power CW sales related to an increase in demand for welding and additive manufacturing applications.
•QCW laser sales decreased due to lower demand in fine processing for consumer electronics applications.
•The increase of revenue in laser and non-laser systems was attributable to higher demand for laser systems and LightWELD.
•Other revenue for materials processing increased due to higher sales of options and accessories.
The following table presents our principal sources of liquidity:
Working capital (excluding cash, cash equivalents and short-term investments)
See Note 9, "Financing Arrangements" in the notes to the condensed consolidated financial statements for further information about our facilities and term debt.
The following table presents cash flow activities:
amounts disbursed in relation to shares withheld to cover employee income taxes due upon the vesting and release of restricted stock units.
Cautionary Statement Regarding Forward-Looking Statements
© Edgar Online, source Glimpses