CyberOptics Corp. Revises Earnings Guidance for the Fourth Quarter Ended December 31, 2013; Provides Sales Guidance for 2014 and 2015; Announces Management Changes, Effective as of February 1, 2014
The company also reported that they are forecasting double-digit sales growth in 2014 and 2015, and the positive sales outlook, combined with lower operating expenses, should result in a reduced operating loss for the coming year.
The company also announced that its board of directors has appointed Dr. Subodh Kulkarni as its Chief Executive Officer and President effective as of the February 1, 2014 retirement of Kathleen Iverson. Dr. Kulkarni, a PhD in Chemical Engineering and the former Chief Technology Officer and Senior Vice President of the OEM/Emerging Business of Imation Corp., has been a member of the CyberOptics Board since 2009 and Executive Chairman since September 2014. He had earlier agreed to accept the role as interim CEO when Ms. Iverson announced her retirement, but has now agreed to lead the company on a more permanent basis.