MTS Systems reports first quarter fiscal 2011 results

MTS Systems has reported financial results for the first quarter of fiscal 2011, in which orders were $139.6m, a 30 per cent increase compared to the first quarter of the prior year.

At $29m, orders in excess of $5m were up $9m compared to the prior year, reflecting continued strength in the Test ground vehicles market and Sensors industrial market.

Revenue was $105.9m, up 19 per cent compared to the prior year, including 15 per cent growth in Test and 37 per cent growth in Sensors, both driven by higher beginning backlog and higher order volume.

The gross margin rate was 44.1 per cent, up 4.6 per cent, due to favourable product mix, increased leverage resulting from higher volume and reduced Test warranty expense.