Here's a stock that's been disappointing to me, but I think it will get better. I call it a Nvls play.
Richard Hill Nvls Ceo sits on the Sfam board, and as you can see they already are partnering. I'm hoping someday that I'll get more Nvls shares from a Nvls buy out of Sfam.
Ps
I've been hoping for that all this year. My average cost of Sfam 14.:-((
<<
CHANDLER, Ariz.--(BUSINESS WIRE)--Dec. 21, 1999--SpeedFam-IPEC,
Inc. (Nasdaq:SFAM), a leading supplier of high-throughput chemical
mechanical planarization (CMP) systems for the semiconductor industry,
today announced its financial results for the second quarter ended
November 30, 1999. All year-over-year comparisons stated below reflect
the combined results of SpeedFam International, Inc. and Integrated
Process Equipment Corp. (IPEC), which merged on April 6, 1999.
For the second quarter of fiscal year 2000, SpeedFam-IPEC's
revenue was $55.8 million, up 16% from $48.3 million for the same
quarter a year earlier and up 11% from $50.3 million for the first
quarter. Second-quarter orders increased 97% from a year ago and 20%
from the prior quarter. The company's book-to-bill ratio for
second-quarter 2000 was 1.24, up sequentially from 1.13.
The second-quarter net loss was $4.5 million, or a loss of $0.15
per share, compared with a net loss of $17.0 million, or a loss of
$0.59 per share, a year earlier and with a net loss of $11.0 million,
or a loss of $0.37 per share, for the first quarter. Excluding the net
effects of SpeedFam-IPEC's sale of its 50% interest in Fujimi
Corporation, a joint venture, and a restructuring charge taken by
SpeedFam-IPEC Co., Ltd., the company's Far East Joint Venture,
second-quarter net loss was $8.6 million, or a loss of $0.29 per
share.
"Our second-quarter growth was gratifying, since it was driven by
the continued acceleration of orders for CMP systems, especially in
the Far East," said Richard J. Faubert, president and chief executive
officer of SpeedFam-IPEC. "Our book-to-bill ratio exceeded the
semiconductor equipment industry average for the second consecutive
quarter. CMP orders grew 23% sequentially, ahead of the overall
semiconductor equipment market. We continue to focus on our strategy
of servicing 0.18-micron line width capacity expansion with current
customers while investing in new copper and 300mm applications."
"We're encouraged by our financial improvement through the second
quarter of fiscal 2000," said J. Michael Dodson, chief financial
officer. "Due to our continued emphasis on asset management,our cash
and short-term investments increased by $3 million during the quarter
and reached $135.7 million at November 30. We reduced inventories for
the sixth consecutive quarter, and decreased accounts receivable days
sales outstanding by 11 days."
"We're especially pleased that we are controlling operating
expenses while continuing to fund new CMP product development for
metal and oxide applications requiring line widths of 0.18 microns and
below," Faubert added. "We also maintained our investments in copper
and 300mm wafer process technologies, which we believe will drive the
next CMP market growth cycle. We are working closely with Novellus
Systems, Inc. on the process integration roadmaps for our alliance.
These ongoing initiatives support our strategy of leveraging both new
and existing customer opportunities to increase CMP market share."
The CMP Group's second-quarter sales to the semiconductor device
market were $45.6 million, or 82% of total revenue, compared with
$33.8 million, or 70%, for the second quarter of fiscal 1999. The
Surface Technology Group's sales to the thin film memory disk media
and silicon wafer markets accounted for $6.7 million, or 12% of total
revenue, compared with $11.4 million, or 24%, a year ago. The
Industrial Applications Group contributed $3.5 million, or 6% of total
revenue, compared with $3.1 million, or 6%, a year earlier.
SpeedFam-IPEC, Inc.
SpeedFam-IPEC, Inc. designs, develops, manufactures, markets, and
supports chemical mechanical planarization (CMP) systems used in the
fabrication of semiconductor devices and other high-throughput
precision surface processing systems. SpeedFam-IPEC's flat surface
processing systems are used in the thin film memory disk media,
silicon wafer and general industrial applications markets.
The company also markets and distributes slurries (polishing
liquids), parts and consumables used in its customers' manufacturing
processes. SpeedFam-IPEC, Inc. owns a 50% interest in a joint venture,
SpeedFam-IPEC Co., Ltd. (the Far East Joint Venture).
This news release contains forward-looking statements. Actual
results may vary. The CMP market may not grow. In particular, the
growth of the CMP market in Asia is uncertain. We may not be able to
maintain or increase our share of the CMP market due to many factors.
We may not be able to achieve the high levels of customer satisfaction
to obtain repeat business from existing customers. We may not be
successful in our efforts to develop new accounts. Competitive
conditions in the industry and technological changes may affect the
CMP equipment market. The markets for metal and oxide applications
requiring line widths of 0.18 microns and below, and for copper and
300mm process technologies, may not develop, or we may not be
successful in developing these technologies, delivering to market
products based on these technologies or generating revenue from these
products. See SpeedFam-IPEC's, SpeedFam's and IPEC's filings with the
SEC, including the Form S-4 filed on February 5, 1999, as amended; the
Annual Report on Form 10-K filed on August 30, 1999; and the Quarterly
Report on Form 10-Q filed on October 15, 1999, for additional risks
affecting the company. |
