ASTX responded favorably to eps....
Reports All-Time Record Quarterly Revenues and Earnings
WOBURN, Mass.--(BUSINESS WIRE)--Aug. 9, 1999--Applied Science and Technology, Inc. (''ASTeX'') (Nasdaq:ASTX - news) today reported financial results for the fiscal 1999 fourth quarter and year ended June 26, 1999.
Total revenue for the fourth quarter of fiscal 1999 was an all-time record $28.3 million, an increase of 41% from $20.1 million reported in the fourth quarter of fiscal 1998 and a 35% sequential increase from $20.9 million in the third quarter of fiscal 1999. Net earnings for the quarter grew to an all-time record $1.9 million, or $0.16 per share diluted, compared to break-even results in the prior year, and a 140% sequential improvement from $0.8 million, or $0.08 per share diluted, in the third quarter of fiscal 1999. As previously announced, these results include a restructuring charge of $763,000 for consolidating the company's recently acquired operations in Dallas, Texas into new space in Wilmington, Mass. Without the restructuring charge, net earnings would have been $2.4 million, or $0.20 per share diluted, adjusting for any tax benefit.
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