Electroglas' sales jump 32% despite quarterly loss
By Silicon Strategies
02/05/2004 1:45 PM EST
URL: siliconstrategies.com
SAN JOSE, Calif.--Wafer-probe equipment maker Electroglas Inc. said revenue for the fourth quarter was $14.3 million, a 32 percent increase from third fiscal quarter 2003 revenue of $10.8 million, and a 9 percent increase from fourth fiscal quarter 2002 revenue of $13.2 million.
Net loss on a GAAP basis was $16.4 million, or minus $0.77 per share, compared with a net loss of $3.5 million, or minus $0.16 per share, for the third quarter of 2003, and a net loss of $25.2 million, or minus $1.19 per share, for the fourth quarter of 2002.
Operating results for the fourth quarter improved as a result of further headcount reductions and other cost-cutting measures initiated in the first quarter of fiscal 2003.
"We are pleased with the fourth-quarter increases in revenue and orders," said Keith Barnes, chairman and CEO, in a statement. "These reflect the steady improvement that we are seeing in our customers' businesses, both in semiconductor manufacturing and assembly and test, and generally, higher capacity utilization across the board, which has led to increased purchasing."
Electroglas expects revenue for the first fiscal quarter of 2004 to increase sequentially. The company's current outlook targets revenue for the quarter in the range of $15 million to $16 million. |
