Jeff Bertelsen of CyberOptics Selected as 2022 CFO of the Year Honoree by Minneapolis/St. Paul Business Journal

Jeff Bertelsen of CyberOptics Corporation® was announced as one of the 2022 CFO of the Year honorees by Minneapolis/St. Paul Business Journal. To view the announcement, visit the article.

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The Minneapolis/St. Paul Business Journal announced its honorees for the 2022 CFO of the Year awards, our annual recognition of outstanding financial executives in the Twin Cities.

“I am delighted to be selected as one of the 2022 CFO of the Year honorees,” said Jeff Bertelsen, VP of Finance, CFO, CEO and Secretary of CyberOptics. “On the heels of 32% year-over-year profitable growth in 2021, CyberOptics reported strong operating results with a 21% increase in revenue and 75% increase in net income in the first half of 2022 vs. the same period in 2021.”

Chief financial officers oversee functions ranging from human resources to technology to strategy — and finances, of course — and have an existential impact on their companies. But since their work often takes place behind the scenes, their achievements can be overlooked outside of their own organizations.

We introduced this project in 2007 to remedy that, by celebrating outstanding financial leaders at Twin Cities companies large and small.

Nominees were evaluated by a panel consisting of other financial executives, who scored them on their contributions to the company and the community. This year's honorees will be recognized at an awards event in November along with a full profile in our publication.

About Minneapolis/St. Paul Business Journal

The Minneapolis/St. Paul Business Journal is a multi-platform media company providing in-depth coverage of local business communities and breaking news reaching more than 491,000 readers each week. Through print, digital products such as its twice-a-day emailed news digests and face-to-face events, the Business Journal offers business leaders many avenues for making connections and gives them a competitive edge locally, regionally and nationally. Visit us at mspbj.com to learn more.

About CyberOptics

CyberOptics Corporation (www.cyberoptics.com) is a leading global developer and manufacturer of high-precision 3D sensing technology solutions. CyberOptics’ sensors are used for inspection and metrology in the SMT and semiconductor capital equipment markets to significantly improve yields and productivity. By leveraging its leading edge technologies, the Company has strategically established itself as a global leader in high precision 3D sensors, allowing CyberOptics to further increase its penetration of key vertical markets. Headquartered in Minneapolis, Minnesota, CyberOptics conducts worldwide operations through its facilities in North America, Asia and Europe.

Statements regarding the Company’s anticipated performance are forward-looking and therefore involve risks and uncertainties, including but not limited to: a possible world-wide recession or depression resulting from the economic consequences of the COVID-19 pandemic; the negative effect on our revenue and operating results of the COVID-19 crisis on our customers and suppliers and the global supply chain; market conditions in the global SMT and semiconductor capital equipment industries; trade relations between the United States and China and other countries; the timing of orders and shipments of our products, particularly our 3D MRS SQ3000 and SQ3000+ Multi-Function systems and MX systems for memory module inspection; increasing price competition and price pressure on our product sales, particularly our inspection and metrology systems; the level of orders from our OEM customers; the availability of parts required to meet customer orders; unanticipated product development challenges; the effect of world events on our sales, the majority of which are from foreign customers; rapid changes in technology in the electronics and semiconductor markets; product introductions and pricing by our competitors; the success of our 3D technology initiatives; the market acceptance of our SQ3000 and SQ3000+ Multi-Function systems and products for semiconductor inspection and metrology; costly and time consuming litigation with third parties related to intellectual property infringement; the negative impact on our customers and suppliers due to past and future terrorist threats and attacks and any acts of war; the impact of lower gross margin MX3000 orders on our consolidated gross margin percentage in any future period; risks related to cancellation or renegotiation of orders we have received; and other factors set forth in the Company’s filings with the Securities and Exchange Commission.

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