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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (38075)	10/10/2000 4:15:29 PM
From: FJB	Respond to of 70976

FSI International, Inc. Announces Fourth Quarter and Fiscal Year-End 2000 Financial Results Record fiscal 2000 orders of more than $350 million represent a 1.6 book-to-bill ratio biz.yahoo.com MINNEAPOLIS--(BUSINESS WIRE)--Oct. 10, 2000-- FSI International, Inc. (Nasdaq: FSII - news), a manufacturer of capital equipment for the microelectronics industry, today reported financial results for the fiscal 2000 fourth quarter and the year ended August 26, 2000. Sales for the fiscal 2000 fourth quarter were $75.3 million, compared to $32.7 million for the same period of fiscal 1999. The Company's net income for the fourth quarter of fiscal 2000 was $5.5 million or $0.21 per share (diluted), as compared to a net income of $4.4 million or $0.19 per share (diluted) for the fourth quarter of fiscal 1999, which included a gain of $15.9 million from the sale of the Company's Chemical Management Division. For fiscal year 2000, sales increased 94% to $219.8 million, compared to $113.5 million for fiscal 1999. The Company's 2000 fiscal year net loss was $4.5 million or $0.18 per share (diluted), compared to a net loss of $30.6 million or $1.32 per share (diluted) for fiscal year 1999. During fiscal 2000, the Company recorded $6.4 million of in-process research and development costs associated with its acquisition of YieldUP International and $4.1 million in realignment charges related to facilities consolidation and the discontinuation of the nickel-iron plating product. Also, the Company recorded a $5.4 million gain associated with the sale of stock when Metron Technology went public in November 1999. After adjusting for the charges and the stock gain, the Company's fiscal 2000 net income would be approximately $600,000 or $0.02 per share (diluted). ``In fiscal 2000 the Company started to recognize the benefits of its investment in infrastructure and product and process application development programs that occurred during the past few years,'' stated Don Mitchell, president and chief executive officer. ``We believe that we can further leverage these investments into a significant improvement in our financial performance in fiscal 2001.''(a) With fiscal 2000 fourth quarter orders of more than $130 million, the Company began fiscal 2001 with a record $184 million in backlog, as compared to $45 million at the beginning of fiscal 2000. The Company expects strong orders in the first quarter of fiscal 2001, however, below the fiscal 2000 fourth quarter level.(a) Customers can cancel or delay orders; therefore, backlog is not necessarily indicative of sales in future periods. Included in fiscal 2000 orders were significant orders from 1st Silicon and another customer for the Company's POLARIS® Microlithography Clusters and ZETA® Surface Conditioning Systems. The shipment of a portion of the 1st Silicon orders occurred late in the third quarter and early in the fourth quarter of fiscal 2000, as this customer equipped the first phase of its new Malaysian fab. The next phase of shipments to this fab is expected to begin late in the first quarter of fiscal 2001, along with the initial shipment of 300mm systems to the second customer, a major U.S. semiconductor manufacturer.(a) As a result, the Company currently anticipates first quarter fiscal 2001 sales will be flat or up slightly as compared to fourth quarter fiscal 2000 sales.(a) However, full year fiscal 2001 sales are currently expected to exceed $300 million as compared to $220 million in fiscal 2000.(a) Investors will have the opportunity to listen to the conference call at 3:30 p.m. CDT over the Internet through Investor Broadcast Networks' Vcall website, located at vcall.com. To listen to the live call, please go to the website at least fifteen minutes early to register, download and install any necessary audio software. For those who cannot listen to the live broadcast, a replay will be available shortly after the call. FSI International, Inc. is a leading global supplier of processing equipment used at key production steps to manufacture microelectronics, including semiconductor devices and thin film heads. The Company develops, manufactures, markets and supports products used in the technology areas of microlithography, surface conditioning and low-k spin-on dielectrics. FSI International's customers include microelectronics manufacturers located throughout North America, Europe, Japan and the Asia-Pacific region.