They must have shipped one more tool than they planned.
Author: Kirk
Discussion: UTEK Ultratech Inc. Discussion & Information
Date: October 20, 2005 6:50 AM
Subject: Ultratech Announces Third Quarter 2005 Results
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Press Release Source: Ultratech Inc.
Ultratech Announces Third Quarter 2005 Results
Thursday October 20, 8:15 am ET
SAN JOSE, Calif.--(BUSINESS WIRE)--Oct. 20, 2005--Ultratech Inc. (Nasdaq:UTEK - News) today announced unaudited results for the three- and nine-month periods ended October 1, 2005.
For the third quarter of fiscal 2005, Ultratech reported net sales of $30.3 million compared to $32.4 million during the third quarter of 2004. Ultratech's net income for the third quarter of 2005 was $195,000 or $0.01 per share (diluted) compared to net income of $2.8 million or $0.12 per share (diluted) for the same quarter last year.
For the first nine months of 2005, Ultratech reported net sales of $87.1 million compared to net sales of $81.5 million in the first nine months of 2004. Ultratech posted a net loss of $3.7 million or $0.15 per share during the first nine months of 2005, compared to net income of $1.1 million or $0.04 per share (diluted) in the first nine months of 2004.
Arthur W. Zafiropoulo, Chairman and Chief Executive Officer, stated, "During the quarter, Ultratech achieved positive cash flow, profitability, reduced our operating expenses and further strengthened our balance sheet as we continued to build our backlog.
"Our unique solutions in our served markets are helping customers advance technology required by new generations of electronic products, in order to deliver new levels of performance for transistors, advanced packaging and other chip applications," continued Zafiropoulo. "Our significant investment in the development of these new products and technologies has led to our current backlog which we expect to translate into increased sales and profits."
At October 1, 2005, Ultratech had $152 million in cash, cash equivalents and short-term investments and a current ratio of 7.0:1. Working capital was $171 million and stockholders' equity was $8.02 per share based on 24,212,817 shares outstanding on October 1, 2005.
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 20, 2005. 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 22, 2005. You may access the telephone replay by dialing 888-286-8010 for domestic callers, 617-801-6888 for international callers, and entering access code 30633612.
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Kirk Lindstrom
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