CyberOptics Corporation Cuts Workforce 10%

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CyberOptics Corporation (NASDAQ: CYBE) today announced the completion of a restructuring and staff reduction totaling approximately 10% of its global workforce. This action was taken in response to continued softening of the electronics market, which has resulted in significantly reduced revenue during the first two months of the fourth quarter. Management currently anticipates fourth quarter revenue will range between $5.5 million and $6.0 million. Kathleen P. Iverson, chief executive officer and chair, commented: “The downturn in the global electronics market, which affected our operating results through the first nine months of 2012, has deepened considerably in the fourth quarter. All electronics manufacturers now appear to be deferring capital equipment orders and likely will continue doing so

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