Asyst Technologies Posts Narrower 4Q Loss
Tuesday May 10, 7:10 pm ET
Asyst Technologies Posts Narrowed 4Q Loss, Sees 1Q Results Above Wall Street Estimates
FREMONT, Calif. (AP) -- Asyst Technologies Inc., a maker of automation and isolation systems that enhance semiconductor and flat panel display manufacturing productivity, said Tuesday that it posted a narrower fourth-quarter loss, helped by higher revenue, and forecast its first-quarter results would beat Wall Street estimates.
Shares of Asyst fell 32 cents, or 8.6 percent, to close at $3.42 on the Nasdaq, and then rebounded 30 cents, or 8.8 percent, to $3.72 in after-hours trading.
The company's loss declined to $2.9 million, or 6 cents per share, from $7.7 million, or 16 cents per share, a year earlier. Excluding the impact of amortization of acquisition-related intangibles, restructuring and impairment charges, and other non-cash charges and gains, the loss totaled $2.5 million, or 5 cents per share. Net sales rose 9 percent to $142.1 million from $130.1 million in 2004.
Analysts surveyed by Thomson Financial expected the company to post a loss of 13 cents per share on revenue of $126.6 million.
For the full year, the company's loss narrowed to $18.6 million, or 39 cents per share, from $83.4 million, or $2 per share. Sales more than doubled to $611.5 million from $301.6 million.
Looking ahead, Asyst said it expects to post a first-quarter loss of $3 million to $5 million, or 6 cents to 10 cents per share. Excluding one-time items, Asyst forecast a loss of $1 million to $3 million, or 2 cents to 6 cents per share. Quarterly net sales are expected at $120 million to $130 million.
Analysts expect the company to post a loss of 8 cents per share on sales of $124.3 million.
Asyst, which previously disclosed filing delays for its second quarter and a restatement of its first quarter 2005 results, said it has not completed its assessment of internal controls for fiscal 2005, and warned it may not be able to complete it by the time the company's Form 10-K is filed in June. The company said its management expects to conclude that internal controls were not effective due to material weaknesses. |
