Cymer Ups Q1 Revenue Forecast
Online staff -- Electronic News, 3/13/2002
e-insite.net
San Diego’s Cymer Inc. today said it expects operating results for the first quarter to come in higher than it previously expected, with revenue jumping between 8 percent and 11 percent from the fourth quarter’s $54.8 million.
Last month, Cymer said it expected revenue to increase only 4 percent to 7 percent sequentially. Cymer, which makes excimer light sources, is scheduled to release first quarter financial results April 23.
Revenue is being driven by higher sales of its new light sources, Cymer said, adding that it now expects the first quarter dollar volume of sales of consumables and spare parts to be relatively flat with the fourth quarter.
Cymer said it is also expecting average selling prices (ASPs) to reach about $725,000, up from its previous forecast of $715,000, and gross margins to come in at the 39 percent to 42 percent range, up from its previous forecast of 36 percent to 39 percent.
"Our better than previously anticipated revenue is primarily attributable to technology buys of our new, most advanced products, the twin 4kHz argon fluoride (ArF) and krypton fluoride (KrF) light sources, ongoing orders for which should maintain our book-to-bill ratio at above 1.0 for the quarter," said Bob Akins, Cymer’s chairman and CEO, in a statement. "At this date, sales of spares and consumables -- the growth of which might indicate increasing volume chip manufacturing activity -- are approximately flat with levels in the prior quarter. Our visibility remains limited, but has improved relative to last quarter." |
