Mattson Technology Swung to 4th-Quarter Profit
Wednesday January 28, 11:41 am ET
FREMONT, Calif. (Dow Jones)--Mattson Technology Inc. (NasdaqNM:MTSN - News) swung to a profit from a loss in the fourth quarter due to significant restructuring actions to focus the company's business on its core technologies and reduce costs.
In a press release, the company said net earnings were $1.1 million or 2 cents a share in the quarter ended Dec. 31 compared with a loss of $31.9 million or 71 cents in the year-earlier period.
Net sales for the period were $43.4 million, up 33% from $49.2 million a year ago as shipments rose 77%.
Looking forward, the company said new order bookings in the first quarter of 2004 are expected to increase by about 12%-15%. Net sales in the first quarter are expected to range between $47 million and $49 million, and gross margin in the first quarter is expected to be about 41%-44%.
Mattson Technology Inc. - Fremont, Calif.
4th Quar Dec. 31:
2003 2002
Sales $43,376,000 $49,244,000
Net income 1,085,000 (31,935,000)
Avg shares 47,249,000 44,753,000
Shr earns
Net income .02 (.71)
Year:
Sales 174,302,000 203,520,000
Net income (28,355,000) (94,271,000)
Avg shares 44,997,000 42,239,000
Shr earns
Net income (.63) (2.23)
Figures in parentheses are losses.
Mattson Technology Inc. is a supplier of semiconductor wafer processing equipment used in the fabrication of integrated circuits.
-Josephine Li, Dow Jones Newswires; 416-306-2100 |
