Ultratech Stepper Message Board

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Technology Stocks : Ultratech Stepper

UTEK 30.23

0.0%

Jun 5 5:00 PM EST

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To: Ian@SI who wrote (466)	4/21/1997 9:48:00 PM
From: Andrew Vance	of 3696

Better masks actually improve UTEK's ability to perform in the market place. Critical Dimension control is real tough when your mask specification is +/- 0.05 micron for a 1X reticle. You are at a disadvantage to a 5X reticle which can have a 0.10 micron spec which becomes 0.02 when it is reduced. Better reticles help UTEK. INTC decision about using the existing toolset for the next 2 years should not effect UTEK at all. UTEK never had a DUV stepper offered for this marketplace so it is a non event. It really should affect the Nikons, Canons and the ASMLFs. By being able to use the existing toolset there should be a reduction in the number of 5X steppers that go onto the used equipment market as the DUV systems are installed. Therefore UTEK should see less competition between their mix-and-match solution versus picking up some used 5X steppers. Over the course of the next 2 years (the INTC 0.25u toolset delay spoken of by others) close to half of the lithography levels will still be at feature sizes that will allow UTEK steppers to be the most cost effective solution for manufacturing. Device price pressures should factor in here (keyword is should). To stretch the situation a little further, it is CONCEIVABLE that INTC in the Texas fab could use the UTEK stepper at a few layers, if they wanted to, in order to conserve on floorspace in the new building. This would allow them to increase capacity within that facility by using that floorspace for other pieces of capacity critical processing equipment. These systems would then be replaced with the DUV steppers down the road as the need arises. The workhorse 5X systems never get touched or retrofitted allowing a smooth transition to the next generation of technology. Bottom Line- there is a place for UTEK steppers in every wafer fabs. It is just a matter of desire and willingness to devote engineering resources, and field service resources to make it work on a day to day basis. The UTEK stepper could be purchased today for specific functions and stand the test of the 5 year depreciation schedule. What really irks me is that evey nasty comment about semiconductors puts UTEK into a tailspin, even when it has nothing to do with them. The non semiconductor portion of UTEK is becoming the dominant part of their business with TFH/MR technology and MEMS. Scanner replacements may be tailoring off, but it is still the most cost effective solution for older fabs. Extending the life of the existing 5X stepper base SHOULD be a godsend to UTEK since it puts fewer of these 5X systems onto the used equipment market. Rumor has it that there is a 0.02 effect on this quarter's earnings due to some push outs on a few systems. BIG DEAL. We are coming out of a downturn and it should have been expected. While I have no reason to believe this to be the case, I really hope that UTEK and Art could report a blow out quarter just to stick it in everyone's face that caused this last price fall. It would be poetic justic, even though unlikely. However, the day will come..... Bloody Andrew (But I did buy more shares and options)

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