“The combined effects of strong earnings and successful management of working capital during this powerful expansion gave us an excellent cash flow during the year.”
“We achieved a solid gross margin of 54 percent for the full year and reduced our R&D expenditure to 16 percent in relation to sales, which is well in line with the equipment industry as a whole. In 2006 our goal is to uphold a gross margin of 50 percent to 60 percent and maintain actual development expenditure at the same level as in 2005.”
