Helix Technology Corporation (ticker: HELX, exchange: NASDAQ) News Release - 4/17/2003
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Helix Reports First Quarter Results
MANSFIELD, Mass., Apr 17, 2003 (BUSINESS WIRE) -- Helix Technology Corporation (Nasdaq: HELX) today announced financial results for the first quarter ended March 28, 2003. Net loss for the quarter was $1.4 million, or $(0.05) per diluted share, compared with a net loss of $4.5 million for the first quarter of 2002, or $(0.19) per diluted share. Sales for the first quarter of 2003 were $23.6 million compared with $20.4 million a year ago.
Commenting on first quarter results, Helix President, Robert J. Lepofsky, said, "Financial results for the quarter were as expected. Sales were essentially flat compared with the fourth quarter of 2002. We continued to see the customer plant closings that are a direct reflection of the weakness in the global semiconductor capital equipment industry. Consistent with our previously announced plans to converge on profitable operations and positive cash flow generation as rapidly as possible, our operating results improved substantially in the quarter. We still face very challenging external market conditions and an uncertain economic picture. We are, however, encouraged by the progress being made throughout our organization to manage and influence those performance factors that are within our own control. We are particularly pleased with customer acceptance of our new product platforms and innovative service offerings which we believe will have an increasing impact on our results in the quarters ahead."
Helix Technology Corporation is a global leader in the development and application of innovative solutions in the field of vacuum technology. Our CTI-Cryogenics and Granville-Phillips product offerings provide a broad range of components and subsystems that are key to the manufacture of semiconductors, flat panel displays and data storage devices. In addition, our highly regarded Global Support activity provides critical ongoing operational support services to semiconductor device producers throughout the world. |
