We expect 2013 to be a challenging year. We are forecasting a cautious first half as the world sorts out fiscal uncertainty in Europe and America. Though we see slowing growth in Asian markets and little to no capacity expansion in the US and Europe, we are forecasting a strong demand for our equipment as the electronics industry continues to be driven by smart technology handhelds that require enhanced rework and inspection performance.
We realize many of our customers will be working with tight budgets. We expect our product mix to show a trend toward increased sales of our lower priced models. We have recently started large-scale upgrade programs with several customers to bring older systems with limited capabilities to current performance. Also, we will offer a limited number of factory refurbished systems to provide like-new capabilities to those that cannot afford new.
In the first quarter VJ Electronix will introduce the next-generation of our Vertex X-ray system. Our new model will feature enhanced imaging and a smaller footprint. Like the current Vertex, the new system will provide a high level of automation at a fraction of the cost for typical automated systems.
We believe it is important to spend more face-to-face time with our customers in 2013. Customer partnerships and cooperation will be a key to carrying success through the new year.
