Helix Technology Corporation Reports Results and a Return to Profitability in Fourth Quarter 2003
Friday January 30, 7:34 am ET
MANSFIELD, Mass.--(BUSINESS WIRE)--Jan. 30, 2004--Helix Technology Corporation (Nasdaq: HELX - News) today announced financial results for both the fourth quarter and the full year 2003. Net income for the fourth quarter ended December 31, 2003, was $793 thousand, or $0.03 per diluted share, compared with a net loss of $9.0 million, or $(0.34) per diluted share, for the fourth quarter of 2002. Sales for the fourth quarter of 2003 were $31.7 million, versus $23.5 million a year ago.
Net loss for the twelve months ended December 31, 2003, was $11.1 million, or $(0.43) per diluted share, compared with a net loss of $19.4 million, or $(0.77) per diluted share, reported for 2002. Sales for 2003 were $105.9 million, compared with $100.2 million in 2002.
Helix President, Robert J. Lepofsky, said, "After ten quarters of depressed operating results related to the state of the semiconductor capital equipment industry, we are pleased to have met our stated goal of a return to profitability in the fourth quarter. As the quarter progressed we saw an increasing strength in our business, confirming earlier expectations about the progress of the recovery of the global electronics industry. Helix has a long-standing reputation for excellence in rapid-cycle-time manufacturing response, and our ability to quickly turn new orders into bottom-line performance resulted in a 22 percent sequential gain in shipments and strong operating results in the fourth quarter. Order booking rates grew throughout the quarter and have continued strong so far this quarter. At this time, we expect to report another strong gain in sequential quarterly shipments in the first quarter of 2004. We believe that we are well positioned to take full advantage of the significantly improved market conditions now evident in our industry."
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. |
