Keithley Instruments Announce the Sale of Its
Quantox Product Line
PR Newswire - November 11, 1998 09:41
CLEVELAND, Nov. 11 /PRNewswire/ -- Keithley Instruments, Inc. (NYSE: KEI), a leader in
electrical measurements solutions for emerging measurement needs, today announced that it
sold its Quantox oxide monitoring product line to KLA- Tencor Corporation (Nasdaq: KLAC)
of San Jose, California.
Keithley expects the sale to result in a one-time gain of $0.35 to $0.40 per share, before giving
effect to the stock repurchase tender offer also announced today. The gain will be recorded in
the company's fiscal first quarter ending December 31, 1998. The cash proceeds from the sale
will be used to partially fund the stock repurchase tender offer.
"The divestiture enables us to focus on serving a number of industries with measurement based
solutions composed of products and applications staff who are highly interrelated," stated
Joseph P. Keithley, Chairman, President and Chief Executive Officer of Keithley Instruments.
"Our industry focus will continue to be wireless communication, automotive electronics,
computer peripherals, and semiconductor, along with research laboratories. We expect that our
more concentrated portfolio, with which we can leverage technology and people across
applications and product lines, will enable us to achieve our growth and earnings objectives."
"Quantox tools are the leading contamination monitoring products for materials such as iron
and copper. We also find a very strong synergy between their ability to determine the electrical
characteristics of films and the optical measurement capabilities of KLA-Tencor products," said
Gary Bultman, Vice President and General Manager of KLA-Tencor's Film Measurement
Division. "As the semiconductor industry continues to push toward 0.13um device technology
and beyond, monitoring and controlling gate oxides will become increasingly difficult.
Bringing the technology and expertise of the Quantox group into KLA-Tencor accelerates our
ability to develop capabilities in this critical area."
The third paragraph of this release may contain forward-looking statements that involve a
number of risks and uncertainties. Actual results may differ materially from the expected results
for a number of reasons that include but are not limited to: general economic and business
conditions in the semiconductor and other industries, the company's ability to develop new
products and gain market acceptance of those products to remain competitive, and worldwide
economic and political conditions and foreign currency fluctuations that may affect worldwide
results of operations.
KLA-Tencor Corporation is the world leader in yield management and process control
solutions for semiconductor manufacturing and related industries. The company offers a broad
portfolio of systems for inspection, metrology, and data analysis, as well as yield management
services.
Keithley Instruments, Inc. provides electrical measurement solutions to the
telecommunications, semiconductor and electronic components industries. Engineers and
scientists around the world use Keithley's advanced hardware and software for process
monitoring, production test and basic research.
SOURCE Keithley Instruments, Inc.
/CONTACT: Mark Plush, Chief Financial Officer, of Keithley, 440-248-0400/
/Web site: keithley.com
(KEI KLAC)
HeadlinesÊÊPrevious StoryÊÊNext Story
KEI KLAC %CPR V%PRN P%PRN
|
