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Technology Stocks : Credence (CMOS): Anyone out there -- Ignore unavailable to you. Want to Upgrade?

To: AI Master who wrote (378)	8/20/1999 10:17:00 AM
From: E. Graphs	Read Replies (1) \| Respond to of 497

Credence Systems Reports Results for Third Fiscal Quarter of 1999 biz.yahoo.com >>...Net sales were $52.4 million, an increase of 40 percent from net sales of $37.3 million in the third quarter of fiscal 1998. Net sales were up $14 million sequentially or 37 percent from the company's second fiscal quarter of 1999. The net income for the third quarter of fiscal 1999 was $2.9 million or $0.13 per diluted share, compared to a net loss of $33.6 million during the third fiscal quarter of 1998, or $1.55 per share. The third quarter 1999 net income showed improvement over the second fiscal quarter when the company reported a net loss of $5.2 million or $0.25 per share.... ....Credence's executive vice president and chief financial officer, Dennis Wolf, said, ''We are very pleased to be reporting net income this quarter. Our sales volumes continued to increase during the quarter and this increased volume had the effect of further improving our gross margin, which stood at 52.6 percent for the quarter. The operating expenses grew a modest three percent above the second quarter of fiscal 1999 level, excluding special charges.'' Wolf continued, ''Our balance sheet continued to strengthen during the quarter as we increased cash and investments despite a significant sales ramp.'' David Ranhoff, Credence's executive vice president said, ''Our revenue and bookings activity for the third fiscal quarter increased from our second fiscal quarter. This increase came from our existing customer base as well as from our new products at several new major semiconductor manufacturers. During the quarter we won eleven new accounts with new business continuing to account for greater than 20 percent of our bookings. We also saw increased order activity from major IC manufacturers in both the U.S. and Europe.'' Ranhoff continued, ''We are particularly pleased with our ability to have ramped the new Quartet line this quarter. It is a new product that meets today's consumer mixed-signal IC needs.''...<<