Leica Geosystems Q3 Growth

Leica Geosystems (Switzerland) has reported quarterly revenue growth, despite a weakening US Dollar. Earnings are robust, through positive gross margin developments and modest operating expense increases. Sales in Q3 rose to CHF 194.9 million (US$ 164,775,201), an increase of 11.8% over the previous year, and 16.7% when measured in local currencies. Growth was again led by the company’s Surveying and Engineering division, which posted local currency sales growth of 20% on sustained demand for its GPS and TPS surveying products. The company generated CHF 12.3 million (US$ 10,398,845) in net income after interest and taxes. It continues to generate sizeable free cash flow through prudent working capital management and moderate capital expenditure, and further reduced its debt level to CHF 118.5 million (US$ 100,183,999).