Headline: Helix Reports Strong First Quarter Results and Record New Order Bookings
MANSFIELD, Mass.--(BUSINESS WIRE)--April 20, 2000--Helix Technology Corporation (NASDAQ:HELX) today announced net income for the first quarter ended March 31, 2000, of $8.0 million, or $0.35 per diluted share, compared with net income of $1.3 million for the first quarter of 1999, or $0.06 per diluted share. Sales for the first quarter of 2000 were $50.1 million compared with $25.9 million a year ago.
Commenting on first quarter results, Helix President, Robert J. Lepofsky, said, "We are quite pleased with our financial results in the first quarter of 2000. Revenues were up sequentially 19.4% from the fourth quarter of 1999. New orders increased 28.7% over the preceding quarter to $57.6 million, a new record for Helix. The broad-based strength of the global semiconductor capital equipment market and customer acceptance of our expanding portfolio of productivity-enhancing products and services continues to drive our performance."
Helix Technology Corporation is a global leader in the development and application of innovative solutions in the field of vacuum technology. Our CTI-Cryogenics and Granville-Phillips product offerings provide a broad range of critical vacuum components and subsystems that are key to the manufacture of semiconductors, flat panel displays and data storage devices. Our highly regarded Global Support activity leverages Helix's unique On-Board© information solutions and our GOLDLink(SM) remote diagnostic and monitoring capability to provide ongoing operational support services to semiconductor device producers throughout the world.
This press release contains certain forward-looking statements, including statements regarding the Company's future performance. Such statements are based on current expectations and are subject to risks, uncertainties and changes in condition, including, among others, market acceptance of and demand for the Company's products, the success of the Company's strategic initiatives, the continued health of the global semiconductor capital equipment market and other risks indicated in the Company's filings with the Securities and Exchange Commission. Accordingly, actual results could differ materially from those indicated. The Company assumes no obligation to update the information in this press release.
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HELIX REPORTS EARNINGS
CONSOLIDATED STATEMENT OF OPERATIONS
First Quarter
(unaudited)
(in thousands except per share amounts) 2000 1999
Net sales $50,050 $25,900
Costs and expenses:
Cost of sales 25,948 15,111
Research and development 3,275 2,066
Selling, general and administrative 9,788 7,157
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39,011 24,334
Operating income 11,039 1,566
Joint venture income 542 137
Interest and other income 297 236
Income before taxes 11,878 1,939
Income tax provision 3,920 679
Net income $ 7,958 $ 1,260
Net income per share:
Basic $ 0.36 $ 0.06
Diluted $ 0.35 $ 0.06
Number of shares used in per share calculation:
Basic 22,419 22,307
Diluted 22,899 22,472
SUMMARY BALANCE SHEET
(unaudited) (audited)
(in thousands) 03/31/00 12/31/99
Assets
Cash, cash equivalents and investments $ 24,517 $27,320
Other current assets 55,721 46,587
Fixed and other assets 21,479 19,748
Total Assets $101,717 $93,655
Liabilities and Stockholders' Equity
Current liabilities $ 25,500 $22,032
Stockholders' equity 76,217 71,623
Total Liabilities and Stockholders' Equity $101,717 $93,655
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The Company's quarterly financial report on Form 10-Q is available to any stockholder upon request.
CONTACT: Helix Technology Corporation
Beverly L. Armell
(508) 337-5111
KEYWORD: MASSACHUSETTS
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS HARDWARE MANUFACTURING |
