Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: FJB who wrote (23358)	10/26/1999 9:31:00 AM
From: Robert Douglas	Respond to of 25960

I don't think I'm the Robert either, but this is from Bear Stearns this morning. <<< IMPORTANT POINTS 1. Cymer reported financial results for the third quarter of $0.12 per share compared to $0.05 in the same year ago period. Well above all expectations. We were estimating $0.07 per share and street consensus was in a range of $0.05 to $0.08 per share. 2. Revenues for 3Q99 rose 137% year over year to $58.8 million compared to 2Q'99 revenues of $43.4 million. Revenues were driven by both higher unit system shipments for the quarter and a more favorable product mix of the higher end ELS-5010 krypton fluoride laser (KrF) and ELS-6000 2Khz KrF laser for 0.18 micron. The ELS-5010 accounted for about 60% of new systems and the ELS6000 represented 20% of new system sales. Only 20% was comprised of something other than Cymer's new products. 3. ASP's for lasers increased as demand continued to shift to Cymer's newer model lasers. The increase is attributable to product mix shift. 4. This is the fourth sequential quarter of increased bookings for Cymer. Bookings for the quarter were at $80.6 million. Backlog at the end of the quarter was $81.7 million up from $59million in the second quarter and compared to $50 million in the first quarter. The increase in orders is driven by the growing demand for krypton fluoride lasers. 5. The book to bill ratio was 1.39 to 1. 6. During the third quarter, Cymer continued to see good market adoption of their newer products. Orders for products such as the ELS6000 orders are strong. The ELS6000 is gaining wide market acceptance. New orders for this product are ahead of internal expectations and should continue to show good strength going forward. 7. Cymer's top customers were as follows: ASM Lithography accounted for 36% of revenues down slightly from 41% in 2Q'99, Canon 16% down from 19%, Nikon rose to 21% up from 16% and Silicon Valley Group was slightly up to 7% from 6% in the prior sequential second quarter. The remaining 20%of revenues was from the sale of spare parts, service and system upgrade kits directly to chipmakers. New orders from Nikon were strongly driven by the ELS-6000 series. Canon's stepper uses Cymer's 5010 light source. Cymer's leading position in the excimer laser market is attributed to its technological development. Cymer continues to dominate the laser market. The performance characteristics of the company's products include high pulse repetition rate, narrow bandwidth, energy stability, as well as reliability as compared to other competitive products in the market. Competition continues to be virtually non-existent in terms of production systems. 9. Cymer's lasers are used in steppers, which are capable of producing critical features from 0.25 microns to as small as 0. 10. As the trend toward ever smaller critical feature sizes continues, volume production of semiconductors with critical geometries 0.35 micron and below generally requires DUV photolithography systems and excimer laser is the optimal illumination source for such DUV systems. Previously steppers used lamps (high-powered fancy light bulbs) to project the mask image through the mask and lenses and expose the wafer. The industry is shifting to shorter wavelengths of light, hence ultra-violet, which can be used to focus on smaller feature sizes. Cymer's laser sources produce a clean, consistent, high power source of Ultra Violet light. As the industry moves to shorter wavelengths such as EUV (extreme ultra violet) Cymer will produce lasers for that wavelength. >>>