Varian's Q1 falls 14% over Q4, but sees order rebound in Q2
Semiconductor Business News
(04/23/02 17:11 p.m. EST)
siliconstrategies.com
GLOUCESTER, Mass. -- Varian Semiconductor Equipment Associates Inc. reported sales of $67 million in Q2 of 2002, down 13.9% from $77.8 million in Q1 and down 64.6% from $189 million for the same period a year ago.
The company recorded a net loss of $41,000, or $0.00 per diluted share, during the Q2, compared to net income of $24 million, or $0.70 per diluted share, for the same period a year ago.
The quarter included a $5 million unrealized gain, recorded as warrant from Lam Research Corp. Excluding the after-tax effect of the Lam warrant, the current quarter's net loss was $3 million, or minus $0.10 per diluted share.
Net income was $5 million in Q1, or $0.15 per diluted share, compared to $13.5 million, or $0.40, a year ago. Excluding the Lam royalty and license revenue, the company's net loss was $12 million, or minus $0.37 per share.
"We currently expect revenue for the third quarter of fiscal 2002 to range between $75 and $90 million, and shipments to be approximately the same," said Robert J. Halliday, chief financial officer for the company. "We expect to be approximately break-even on a pre-tax basis in our third fiscal quarter." |
