Third Quarter 2004 Results
Press Release Source: Ultratech Inc.
Ultratech Announces Third Quarter 2004 Results
Thursday October 21, 8:15 am ET
SAN JOSE, Calif.--(BUSINESS WIRE)--Oct. 21, 2004--Ultratech Inc. (NASDAQ:UTEK - News) today announced unaudited results for the three- and nine-month periods ended October 2, 2004.
For the third quarter of fiscal 2004, Ultratech reported net sales of $32.4 million compared to $26.5 million during the third quarter of 2003. Ultratech's net income for the third quarter of 2004 was $2.8 million or $0.12 per share (diluted) compared to net income of $3.2 million or $0.13 per share (diluted) for the same quarter last year.
For the first nine months of 2004, Ultratech reported net sales of $81.5 million compared to net sales of $73.3 million in the first nine months of 2003. Ultratech posted net income of $1.1 million or $0.04 per share (diluted) during the first nine months of 2004, compared to net income of $4.3 million or $0.18 per share (diluted) in the first nine months of 2003.
Arthur W. Zafiropoulo, Chairman and Chief Executive Officer, stated, "Ultratech posted strong results in the third quarter achieving good sequential growth in revenue, as well as a return to profitability. We continued to see strength in the advanced packaging market due to our ability to offer our customers what we believe to be the industry's most comprehensive offering of lithography solutions for 150-, 200- and 300-mm advanced packaging manufacturing environments."
"During the quarter, we also experienced continued momentum in our laser processing business as evidenced by additional orders we received during the quarter," continued Zafiropoulo. "By combining the power of our LP technology with the productivity, reliability and extendibility benefits of our new Unity platform, we are providing our customers with a leading-edge tool that is designed to meet their most aggressive thermal processing requirements for multiple device generations."
At October 2, 2004, Ultratech had $161 million in cash, cash equivalents and short-term investments and a current ratio of 5.9:1. Working capital was $172 million and stockholders' equity was $8.14 per share based on 23,800,568 shares outstanding on October 2, 2004.
Conference Call Information
The conference call will be broadcast live over the Internet beginning at 11:00 a.m. Eastern Time/8:00 a.m. Pacific Time on Thursday, October 21, 2004. To listen to the call over the Internet or to obtain telephone dial-in information for the call, please go to Ultratech's web site at www.ultratech.com.
If you are unable to attend the live conference call, a replay will be available on Ultratech's web site. If you do not have Internet access, a replay of the call will be available two hours after the conclusion of the call and run until 9:00 p.m. Pacific Time, October 23, 2004. You may access the telephone replay by dialing 800-642-1687, or 706-645-9291 for international participants, and entering access code 1232331. |
