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Non-Tech : EARNINGS REPORTING - surprises, misses & more -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (89)	5/16/2000 1:45:00 AM
From: 2MAR$	Read Replies (1) \| Respond to of 762

CMOS beat estimate by 60%. 1.26 vs 0.88 Sales up 300% and income up 100% Strong semiconductor company. Credence Systems Reports Record Results for the Second Fiscal Quarter of 2000 FREMONT, Calif.--(BUSINESS WIRE)--May 15, 2000--Credence Systems Corporation (Nasdaq NMS:CMOS - news) today reported record results for its second fiscal quarter ended April 30, 2000. Net sales were $153.8 million, an increase of 304 percent from net sales of $38.1 million in the second quarter of fiscal 1999. Net sales were up 51% sequentially, from net sales of $101.8 million in the company's first fiscal quarter. Net income for the second quarter of fiscal 2000 was $33.5 million or $1.26 per diluted share, compared to a net loss of $5.2 million in the second quarter of 1999. Net income for the second quarter was up 99% sequentially from the first fiscal quarter of 2000 when the company reported net income of $16.9 million or $0.71 per diluted share. Dr. Graham Siddall, Credence's president and chief executive officer said, ``We are extremely pleased with our results this quarter. Although we are only half way through fiscal 2000, we have already surpassed the company's all-time highs for revenue, earnings and bookings in any one fiscal year. Bookings remained strong, with a book-to-bill of 1.4 even after a sequential growth in revenue of 51 percent. Orders from new customers during the quarter represented about 25 percent of total bookings.'' Credence's executive vice president and chief financial officer, Mr. Dennis P. Wolf, said ``The trend in operational improvements continued this quarter. Our gross margin of 59.2% was the highest since the third quarter of 1996 and up from 57.7% in the first quarter of this fiscal year. Our operating margin of 32 percent was the highest in our history.'' Mr. Wolf continued, ``The balance sheet is the strongest in Credence's history, with cash and investments of $449 million. On February 25, 2000 we completed our follow-on offering which raised $288 million''. Credence Systems Corporation is a leader in the manufacture of automatic test equipment (ATE) for the worldwide semiconductor industry. Credence offers a wide range of products with test capabilities for digital, mixed-signal, and non-volatile memory semiconductors. Utilizing its proprietary CMOS technologies, Credence products are designed to meet the strict time-to-market and ownership requirements of its customers. Headquartered in Fremont, California, the company maintains advanced production and design facilities in Hillsboro, Oregon. Credence, an ISO 9001 certified manufacturer, is listed on the Nasdaq National Market under the symbol CMOS. More information is available at www.credence.com/.