GENEVA, SWITZERLAND -- Meyer Burger Technology today reported net sales increased 40% to CHF 453.1 million ($456.5 million) in 2016.

For the year, orders rose 9% to CHF 455.6 million, while backlogs as of Dec.31 were CHF 244.5 million. EBITDA swung to CHF 10.5 million from CHF -55.9 million in 2015. The net loss was reduced to CHF 97.1 million from a loss of CHF 169 million in 2015.

"With the structural changes launched at the end of September and additional optimizations, Meyer Burger has laid the basis to also reach the turnaround on net profit level as quickly as possible," the company said.

Meyer Burger guided for 2017 net sales to be similar to 2016's results, with a substantial improvement in profitability.

Meyer Burger makes inkjet production printers for applying solder mask and related technologies for the PCB, semiconductor and solar industries.

Ed.: 1 CHF = 1.00756 USD

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