Ultratech Announces First Quarter 2008 Results
Thursday April 17, 8:15 am ET
SAN JOSE, Calif.--(BUSINESS WIRE)--Ultratech, Inc. (NasdaqGM: UTEK - News) today announced unaudited results for the three-month period ended March 29, 2008.
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For the first quarter of fiscal 2008, Ultratech reported net sales of $31.1 million compared to $27.4 million during the first quarter of 2007. Ultratech’s net income for the first quarter of 2008 was $2.0 million or $0.08 per share (diluted) compared to a net loss of $3.2 million or $0.14 per share for the same quarter last year.
Arthur W. Zafiropoulo, Ultratech Chairman and Chief Executive Officer stated, “During the quarter, Ultratech executed effectively and achieved higher than expected revenue and earnings. We are especially proud of the continued improvements to profitability that our product portfolio generated during the first quarter.”
“While we realize that there is significant uncertainty in the economic environment, we believe our technology based business model is focused to improve our operating results, create long-term growth and provide value to our stockholders,” Zafiropoulo concluded.
At March 29, 2008, Ultratech had $141 million in cash, cash equivalents and short-term investments. Working capital was $165 million and stockholders’ equity was $ 7.72 per share based on 23,371,055 total shares outstanding on March 29, 2008.
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, April 17, 2008. 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 three hours after the conclusion of the call and run until 9:00 p.m. Pacific Time, April 19, 2008. You may access the telephone replay by dialing 800-642-1687 for domestic callers, 706-645-9291 for international callers and entering access code: 41617557.
Profile
Ultratech, Inc. (NasdaqGM: UTEK - News) designs, manufactures and markets photolithography equipment used worldwide in the fabrication of semiconductor and nanotechnology devices, and has expanded its technology scope in pioneering laser processing technology for IC manufacturing. Founded in 1979, Ultratech is a market leader in gold and solder bump lithography. Its products are designed to substantially reduce the cost of ownership for manufacturers in the electronics industry. The company’s home page on the World Wide Web is located at www.ultratech.com.
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