PRI Reports Lower Q2 Results
Online staff -- Electronic News, 4/30/2002
e-insite.net
PRI Automation Inc. today released second quarter results that are lower both sequentially and year-over-year. But the Billerica, Mass., company said it saw bookings increase 60 percent from the prior quarter.
Revenue for the quarter that ended March 31 was $45.7 million, down from $54.9 million posted in the previous quarter and $72.9 million reported a year ago.
The company’s net loss per share matched its earlier estimates, coming in at 27 cents, compared with a loss of 26 cents in the first quarter and a loss, including restructuring charges, of $1.18 a year ago. The net loss for the quarter was $7 million, slightly higher than the loss of $6.8 million reported for the prior quarter, but much lower than the loss of $29.8 million a year ago.
Bookings for the quarter were up 60 percent to $32 million, the company said, compared with $20 million in the previous quarter.
"We’re beginning to see the signs of an industry recovery, as leading-edge customers are making 300mm technology buys, and companies that have been out of the market entirely for the last year are now discussing capacity buys," said Mitch Tyson, president and CEO of PRI, in a statement. "These are good signs for capital equipment suppliers."
PRI said it is now focused on completing its $380 million stock swap merger with Brooks Automation Inc., which was announced in October. |
