I've been doing a little more thinking and background checking on the CVD situation and Mattson margins. After reading the report today on Cymer Laser placements and pricing by their customers products early this year at the bottom on this cycle, it refocused my thoughts on margins going forward and maybe an understanding on the new CFO's statements on margins increasing going forward.
If I were Brad Mattson, and offered chance to seriously bid at the bottom of the worst cycle ever for 20+ Apens III CVD units, when I had virtually no units in production, I'd offer a bid that would get the contract, period. From the results the last Q, which had alot of Samsung CVD $ in it, it still was at a profitable level. Looking at the the fact that all semi equip suppliers sold at much reduced prices in January, when the bid for all 20+ units likely occurred, one would likely expect that customer following Samsung will pay much higher prices. Note that in the CC, Brian noted that margins this Q would be positively impacted by "other" CVD customers. So, I conclude 2 things. One, there are other customers, 2, the price and margins are going up.
Best Regards,
John Stewart |
