-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueThe Sustainability Issue
Sustainability is one of the most widely used terms in business today, especially for electronics and manufacturing but what does it mean to you? We explore the environmental, business, and economic impacts.
The Fabricator’s Guide to IPC APEX EXPO
This issue previews many of the important events taking place at this year's show and highlights some changes and opportunities. So, buckle up. We are counting down to IPC APEX EXPO 2024.
Getting to Know Your Designer
In this issue, we examine how fabs work with their design customers, educating them on the critical elements of fabrication needed to be successful, as well as the many tradeoffs involved. How well do you really know your customer? What makes for a closer, more synchronized working relationship?
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
Nano Dimension Reports 2020 Second Quarter Financial Results
August 14, 2020 | Globe NewswireEstimated reading time: 3 minutes
Nano Dimension Ltd., a leading Additively Manufactured Electronics provider, announced financial results for the second quarter ended June 30, 2020.
Nano Dimension reported revenues of $288,000 for the second quarter of 2020. The Company ended the quarter with a cash and deposits balance of $49,525,000, while total operating loss for the second quarter was $3,812,000.
“As projected by our President & CEO in our last investors conference call in mid-May, the global effects of the Covid-19 pandemic have caused a material decrease to our revenues, since companies and organizations around the world are not releasing budgets for purchases of capital equipment,” said Yael Sandler, Chief Financial Officer of Nano Dimension. “Yet, we are already witnessing electronic companies considering ways to shorten their supply chains by looking to reduce dependency in the Far East by buffering part of their manufacturing on the ground in America and Europe, rather than only in China. Our DragonFly LDM Additive Manufacturing Electronic system allows exactly this: Short-cycled and cost-efficient prototyping and eventually fabrication of functional high-performance electronic devices ('Hi-PEDs') with minimal ecological disruptions. In the meanwhile, rather than over spending on marketing and sales while the market is irresponsive as capital expenses budgets are Corona-stagnated, we are directing the resources received from the successful equity offerings in the second quarter of 2020 to product and technology development. As a result, we expect to be better positioned once the electronics landscape is revitalized in a post-Covid-19 resurgence,” concluded Ms. Sandler.
Second Quarter 2020 Financial Results
-
Total revenues for the second quarter of 2020 were $288,000, compared to $702,000 in the first quarter of 2020, and $1,161,000 in the second quarter of 2019. The decrease is attributed to continuing delays in identified transactions of DragonFly systems, which the Company primarily attributes to Covid-19.
- Research and development (R&D) expenses for the second quarter of 2020 were $1,895,000, compared to $1,702,000 in the first quarter of 2020, and $2,322,000 in the second quarter of 2019. The increase compared to the first quarter of 2020 is attributed to an increase in payroll and related expenses, as the Company is temporarily mobilizes resources from marketing and sales to product enhancements. The decrease compared to the second quarter of 2019 is mainly attributed to a decrease in payroll and related expenses and materials expenses. The Company intends to allocate more funds to R&D, in order to be ready with new technology as Covid-19 subsides.
- Sales and marketing (S&M) expenses for the second quarter of 2020 were $930,000, compared to $819,000 in the first quarter of 2020, and $1,507,000 in the second quarter of 2019. The increase compared to the first quarter of 2020 is attributed to an increase in payroll and related expenses, before the eruption of the Covid-19 pandemic. The decrease compared to the second quarter of 2019 was mainly attributed to a decrease in payroll and related expenses and marketing and advertising expenses.
- General and administrative (G&A) expenses for the second quarter of 2020 were $908,000, compared to $1,035,000 in the first quarter of 2020, and $1,023,000 in the second quarter of 2019. The decrease compared to the first quarter of 2020 is attributed to a decrease in share-based payments expenses. The decrease compared to the second quarter of 2019 is attributed to a decrease in professional services expenses and the results of cost cutting of salaries and other expenses in the early stage of Covid-19 related slow down.
- Net loss for the second quarter of 2020 was $8,265,000, or $0.27 per share, compared to $2,074,000, or $0.32 per share, in the first quarter of 2020, and $1,188,000, or $0.30 per share, in the second quarter of 2019. The increase compared to both the first quarter of 2020 and the second quarter of 2019 is mainly attributed to finance expenses of approximately $4,322,000 that were recognized in the second quarter of 2020, as a result of the change in the fair value of warrants, which are non-cash expenses.
Suggested Items
Nortech Systems Reports Q4, FY 2023 Results; Full Year Net Sales Up Nearly 4% from Prior Year;
03/21/2024 | BUSINESS WIRENortech Systems Incorporated, a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, industrial and defense markets, reported 2023 fourth quarter and full year results for the period ended December 31, 2023.
VDL ETG: New Location in Vietnam
03/20/2024 | VDL ETGVDL ETG, the high-tech cluster of VDL Groep, during the Dutch trade mission in Vietnam, ratified a cooperation with Frasers Property for the construction of a new facility in Vietnam. Construction of the new VDL factory in the northeast of Vietnam will start soon.
Kioxia, WD Elevate Capacity Utilization, Pushing NAND Flash Supply Growth to 10.9%
03/19/2024 | TrendForceTrendForce reports that anticipation of NAND Flash price hikes into Q2 has motivated certain suppliers to minimize losses and lower costs in hopes of returning to profitability this year.
Foxconn Announces FY2023 & 4Q23 Financial Results
03/18/2024 | FoxconnHon Hai Technology Group (Foxconn) announced its full year and fourth quarter 2023 financial results.
Hon Hai Announces FY2023 & 4Q23 Financial Results
03/15/2024 | FoxconnThe Group revised upward its full-year 2024 outlook from neutral to significant growth, particularly noting strong growth of AI servers and components will be the biggest highlight this year.