RTEC ..beneficiary of Semi explosion....old news=Robertson Stephens Reiterates Buy Rating, Raises
Estimates on RTEC
SAN FRANCISCO--(BUSINESS WIRE)--Feb. 1, 2000--Robertson Stephens Managing
Director and Senior Semiconductor Equipment/Foundries Analyst Sue Billat, a 1999 Wall Street Journal All-Star Analyst,
today reiterated her Buy rating and raised estimates on Rudolph Technologies, Inc. (NASDAQ:RTEC - news). The company
is a franchise player in the process control metrology market.
``We are reiterating our Buy rating on Rudolph Technologies, after the company reported strong fourth quarter results,' said
Billat. ``Earnings-per-share of $0.13, driven by strong sales, exceeded our expectations of $0.09. Year-end backlog of $16.3
million and annual book-to-bill ratio of 1.25 to 1 exceeded industry performance.'
``We are raising our earnings-per-share estimates for 2000 and 2001 to $0.60 and $0.87, respectively,' said Billat. ``For the
first quarter, we anticipate 21 percent sequential net income growth and a 25 percent bump in share count to result in flat
earnings-per-share. We anticipate steady sequential earnings-per-share growth will resume in the second quarter.'
``Our revised estimates belie more dramatic growth in Rudolph's performance and earnings potential, due to both common
stock equivalents triggered by continued appreciation in share price and pending tax credits that we expect to see realized this
year,' said Billat. ``In addition, Rudolph's strong fourth quarter showing reaffirms our confidence that the company is
exceptionally well-positioned to notably outperform the projected robust growth for the semiconductor equipment industry.' |
