GARBSEN, GERMANY – LPKF today announced preliminary first-half revenue growth of 39% year-over-year on unexpectedly strong first half.

Sales for the first half are an estimated EUR 70 million, the maker of printed circuit board drill and routing equipment said. Earnings before interest and taxes (EBIT) of EUR 15 million are expected, an EBIT margin of 22%.

Due to strong demand for laser direct structuring systems in the first half, LPFK is raising the forecast for the current financial year. The new forecast calls for revenue of EUR 119 million to EUR 123 million, up from the previous guidance of EUR 115 million to EUR 120 million forecast in November 2012. The company also raised its EBIT margin forecast by one point to 16% and 17%.

"Despite the highly positive development of business in the first six months, the forecast for the full year is being raised only moderately. This is because, for one, the management does not believe the LDS business to make a similarly strong contribution to earnings in the second half after the unexpectedly strong performance in the first six months," LPKF said. It also noted the positive effect of a major order from the solar industry, but said that the broader solar market is expected to remain weak. As such, LPKF is preparing for a "noticeable decline" in revenue in its Solar Module Equipment business in the second half. Incoming orders after six months are down 6% compared with the prior-year period.

Given a stable economic environment, LPKF still expects revenue to grow by approximately 10% and the EBIT margin of 15% to 17% in 2014 and 2015.