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Technology Stocks : Lance B's : Its A Beautiful Thing -- Ignore unavailable to you. Want to Upgrade?

To: Honor+Integrity who wrote (516)	11/1/1999 10:50:00 AM
From: LANCE B	Respond to of 4792

TRKN-LOOKS GOOD ON NEWS... (COMTEX) B: Trikon Technologies Announces Record Third Quarter 1999 B: Trikon Technologies Announces Record Third Quarter 1999 NEWPORT, Wales, United Kingdom, Nov 1, 1999 (BUSINESS WIRE) -- Profitable Quarter, Increased Product Sales, Strengthened Balance Sheet places Trikon in position for advanced low-k product roll out in year 2000 Trikon Technologies, Inc. (OTC-BB:TRKN) a technology leader in semiconductor equipment today announced financial results for the third quarter ended September 30, 1999. Product sales of $13.2 million for the third quarter increased 194% over the third quarter last year and 22% over the second quarter 1999 making Trikon's product sales profitable for the first time since the restructuring of the Company in 1997. Product sales for the nine months ended September 30, 1999 were $32.7 million, a 64% increase over product sales of $20 million for the same period in 1998. Income on product sales in the quarter was $109,000 with net income from operations of $4.2 million, or $0.04 per common share for the third quarter, compared to a $5.6 million loss, or $(0.08) per common share for the third quarter last year. $4.1 million of the company's net income resulted from a release of sales returns payable allowance. Gross margins on product revenues improved to 47% as compared to 28% for the same period last year and 39% in the second quarter of this year as the company gained efficiency in its manufacturing operations and product mix. Trikon's balance sheet continues to strengthen. Operations were cash positive during the quarter with 'cash and cash equivalents' increasing to $8.6 million at September 30, 1999. Additionally Trikon secured an $8.25 million line of credit in September. During the quarter Trikon completed negotiations regarding the return by certain customers of etch equipment manufactured by its predecessor company, Plasma & Materials Technologies Inc. As a result, the allowance for sales returns payable was reduced to $3.9 million. "I am very pleased to report we have returned to profitability on increased product sales and improved margins. We restructured our operations and weathered what is regarded as the worst recession in our industry's history," said Nigel Wheeler, president and chief executive officer, Trikon. "Throughout this period we have increased our sales in the USA and Europe and placed a broad range of technologies at new accounts. We now have an exciting new product, Flowfill fxP (TM) for low-k dielectric deposition. I believe it will be capable of generating significant revenues next year as the semiconductor industry continues to show strong growth and advanced low-k technology moves from development to production implementation." During the quarter Trikon made several announcements regarding advances in its business. These included: