Ultratech swings to $1M profit in Q2
Thursday July 26, 12:16 pm ET
Ultratech Inc. said Thursday it had net income in the second quarter of $1 million or 4 cents a share, compared to a loss in the year-ago quarter of $1.2 million or 5 cents a share.
The San Jose-based company (NASDAQ:UTEK - News), which focuses on photolithography and laser processing equipment, reported sales of $30 million, up from $26 million during the second quarter last year.
Arthur W. Zafiropoulo, chairman and CEO, said the results "represented a solid quarter of execution. We improved our bottom line as a result of our actions to reduce costs and improve operational efficiency."
At the end of the quarter, the company had $130.4 million in cash, cash equivalents, short-term investments and long-term investments. Working capital was $120.7 million and stockholders' equity was $7.45 per share based on about 23.29 million shares outstanding.
Published July 26, 2007 by the Silicon Valley / San Jose Business Journal
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