- The net sales amounted to EUR 32.5 (32.0) million.
- The profit before depreciation (EBITDA) amounted to EUR 0.9 (2.1) million.
- The operating profit totalled EUR -0.9 (0.6) million.
- The profit for the period totalled EUR -1.7 (-0.4) million.
- The profit includes non-recurring expenses of EUR 1.7 million.
- The post-investment cash flow was positive, EUR 0.4 (2.9) million.
- The research and development investments amounted to 6.6% of net sales or EUR 2.1 million (5%, or EUR 1.6 million).
- The equity ratio was 17% (17%).
- The equity ratio with subordinated loan in shareholders' equity was 30% (29%).
- The order book totalled EUR 6.5 (5.2) million at year end.
- The market conditions were challenging at the beginning of 2004, but improved significantly towards the end of the year. New and replacement investments made by customers increased the demand for PMJ's products.
- PMJ adjusted its size to increase profitability.
- The organisation was strengthened in essential ways.
- The focus of the operations was moved from customised client-specific projects to more profitable and predictable standard equipment production.
- Functions outside the core business were sold.
- New products were launched: the PMJ1000 product family and the MLT2000 testing system.
- The company increased its product development investments in the laser product family for the semiconductor industry.
- The company invested in distribution network development by signing new distribution contracts.