Glaston Corp. reported its orders for the third quarter of 2014 totaled $43.5 million, bringing its 2014-through-September total to $114.2 million. According to the company, consolidated net sales from January-September totaled $106.8 million, and third-quarter net sales were $32.5 million.

“The third quarter was good in terms of profitability and was another step in the right direction,” says president and CEO Arto Metsänen. “Our systematic measures to improve profitability are therefore yielding results. After the first quarter of 2013, the operating result excluding non-recurring items has improved in every quarter compared with the corresponding period the previous year, except for the first quarter of 2014.

“The third-quarter operating profit of $1.4 million was significantly better than the comparison period, and was 4.3 percent of net sales. The result does not yet correspond with our financial targets, but we are approaching that level.”

Glaston expects its net sales to grow compared to last year, “even though the early part of the year was challenging.” Metsanen says the company’s order book, which came in at $54.5 million at the end of September, “is at a slightly higher level than last year.”

“In the review period, we made an acquisition in line with our strategy by purchasing the industrial property rights of Glassrobots,” he says. “This acquisition opens up for us a number of new opportunities. Firstly, we can take advantage of the company’s installed machine base by providing maintenance and spare parts services for it, and we have already received significant spare parts orders. In addition, the tempering technology of the acquired company is well-respected in the particularly demanding customer segment.

“We continuously monitor the situation of operators in our industry, and other opportunities for specific acquisitions to support our strategy [that] may arise.”

In the machines segment, Glaston reports the positive development that began in the second quarter strengthened in the third quarter. According to the company, the U.S.’s share of new heat treatment machine orders was “significant,” and that orders intake and profitability development were promoted by a weakening of the euro against the U.S. dollar.

In the service market, Glaston says its position “remained strong in the third quarter despite a rather weak market situation.” In North America, development of sales of pre-processing machine spare parts was “unsatisfactory,” while sales of heat treatment machine spare parts continue to be strong.

Glaston still expects the market overall to grow moderately in 2014. The safety glass market, Glaston’s main field of business, is expected to grow by nearly 7 percent per year up to 2017, according to the company. Glaston also expects that 2014 net sales and operating profit, excluding non-recurring items, will grow.