Asyst Technologies Wins Generation 6 Flat Panel Display Automation Project Valued at $120 Million
Tuesday July 27, 6:30 am ET
FREMONT, Calif.--(BUSINESS WIRE)--July 27, 2004--Asyst Technologies, Inc., (Nasdaq:ASYT - News) today announced that its 51%-owned joint venture, Asyst Shinko, Inc. (ASI) has been selected to install ASI's Automated Material Handling System (AMHS) in a large new Generation 6 flat panel display (FPD) factory in Taiwan. The total value of the project, which will be booked in multiple phases, is expected to be approximately $120 million.
ASI already has booked Phase 1 of the project in the company's fiscal second quarter ending September 25, 2004. The company anticipates recognizing revenue related to the project beginning in the second fiscal quarter and over the next several quarters. Expected gross margins on the entire contract are in line with the company's objectives, although the relative profitability and timing of project phases could cause quarterly fluctuations in gross margin performance.
This is the company's second major Generation 6 FPD win in the past nine months and is expected to be its largest AMHS project to date.
"This customer is among the top flat panel manufacturers in the world and we believe that this company, along with our other Generation 6 customer, will continue to invest in large panel factories and will provide Asyst with strong potential business opportunities in the years to come," said Steve Schwartz, chairman and CEO of Asyst. "We have aggressively pursued additional FPD business because we believe that it provides the opportunity to participate in an industry cycle with timing that is at least slightly different from the silicon cycle, leveraging core technologies and capabilities we developed for semiconductors."
About Asyst
Asyst Technologies, Inc. is a leading provider of integrated automation solutions that enable semiconductor and flat panel display (FPD) manufacturers to increase their manufacturing productivity and protect their investment in materials during the manufacturing process. Encompassing isolation systems, work-in-process materials management, substrate-handling robotics, automated transport and loading systems, and connectivity automation software, Asyst's modular, interoperable solutions allow chip and FPD manufacturers, as well as original equipment manufacturers, to select and employ the value-assured, hands-off manufacturing capabilities that best suit their needs. Asyst's homepage is asyst.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
Except for statements of historical fact, the statements in this press release are forward-looking. Such statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include, but are not limited to: customer delay, reduction or cancellation of planned projects, bookings, or opportunities (and thus the delay, reduction or cancellation in our anticipated bookings or revenue), ability to achieve anticipated profitability of projects, and other factors more fully detailed in the company's annual report on Form 10-K (as amended) for the year ended March 27, 2004.
"Asyst" is a registered trademark of Asyst Technologies, Inc. All Rights Reserved.
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Contact:
Asyst Technologies, Inc.
John Swenson, 510-661-5000
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Source: Asyst Technologies, Inc. |
