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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: wannaBrich who wrote (100004)	4/24/2000 7:40:00 PM
From: puborectalis	Respond to of 108040

RTEC earnings......Rudolph Technologies Announces Record Earnings And Revenue First Quarter Revenue Increases 160% Earnings Up 38% Over 1999 Fourth Quarter to a New Record FLANDERS, N.J., April 24, 2000 (PRIMEZONE) -- Rudolph Technologies, Inc. (Nasdaq:RTEC - news) today reported results for the first quarter ended March 31, 2000. Total revenue for the first quarter of 2000 was $17.0 million, a 160% increase over the comparable quarter of 1999 and a 32% sequential increase. Gross margin increased to 53%, up from 50% in the year-ago period and 52% in the fourth quarter of 1999, as a result of several positive developments. These include the Company's higher revenue, which covers a larger portion of fixed costs; cycle time reduction initiatives; and outsourcing, which combined to improve manufacturing efficiencies. The shipments in the quarter included Rudolph's SpectraLASER(r) and MatrixMetrology(tm) lines of transparent tools, which are enjoying increased acceptance, and multiple units of the Company's new MetaPULSE(r)copper tools. The first quarter net income available to common shareholders was $2.9 million, or $0.18 per diluted share, compared to a 1999 first quarter net loss available to common shareholders of $671 thousand, or ($0.10) per diluted share. ``Our strong order, sales and earnings growth was driven during the quarter by high demand for our metal and transparent products, particularly the rising demand for our new copper and 300mm offerings. This across the board sales success validates our confidence in our ability to deliver comprehensive solutions that address the industry's evolving process control needs,' commented Paul F. McLaughlin, Chairman and Chief Executive Officer. Rudolph Technology ``We are especially pleased with the strength of our order activity from our foundry customers in Asia. In addition, the pace of orders in Japan has increased earlier than we had anticipated and ahead of the overall economic recovery there. The robust demand that we are experiencing across all geographies reflects semiconductor device manufacturers' continued recovery and accelerated expansion plans. Device manufacturers now are firming up their capital spending plans in copper and 300mm, just as we anticipated, and Rudolph is there today with the products they need to move forward. Looking ahead and based on our current order rates, Rudolph anticipates being able to outpace the industry's expected growth rate in 2000.`` Research and development expenses in the first quarter of 2000 were $1.7 million, compared to $1.0 million in the prior year period and $1.4 million in the previous quarter. The increase in comparison to both periods was attributable primarily to personnel related costs and materials for new product development. The Company anticipates that R&D spending will continue to increase slightly in the coming quarters as it continues to develop leading edge metrology solutions that anticipate customers' future needs. Selling, general and administrative expenses for the first quarter of 2000 were $3.0 million, compared to $1.6 million in the prior year period and $3.8 million in the 1999 fourth quarter after a $1.0 million non-recurring charge. The year-over-year increase is due primarily to increased commissions, royalties on licensed technology, costs associated with the Company's direct sales force in Europe, which was established in the third quarter of 1999, and higher compensation expense related to corporate incentive plans. Excluding the non-recurring charge, selling, general and administrative expenses increased $200 thousand over the previous quarter.