SVG sales jump 233% to $204.6 million; tool orders reach record high
Semiconductor Business News
(04/20/00, 01:51:45 PM EDT)
SAN JOSE--Silicon Valley Group Inc. here today reported a 233% increase in sales to $204.6 million in SVG's second fiscal quarter, ended March 31, compared to $61.5 million in the period last year. The supplier of lithography and other wafer-processing tools posted a net income of $11.6 million, or $0.32 per share, in the quarter vs. a net loss of $18.0 million, or -$0.55 per share, in the period last year.
SVG smashed Wall Street's consensus for earnings per share, which according to First Call/Thomson Financial, was at $0.20 per share. SVG said it had record orders of $305.7 million in the quarter and a book-to-bill ratio of 1.5-to-1. Bookings were up 49% from $205.0 million at the end of the previous three-month period, according to the San Jose equipment supplier.
"The company is responding to the challenges of the upturn in the semiconductor equipment industry," said Papken S. Der Torossian, chairman and CEO of SVG. "Profitability continues to improve and orders received for the quarter were at an all-time-high. As part of the quarter's order rate success, the lithography operation expanded its customer base of the high numerical aperture 193-nm product to include two high volume producers of memory products, as well as a new customer for its .6na 193 product," he said.
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