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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (39747)	7/30/2008 9:33:16 PM
From: Donald Wennerstrom	Respond to of 95616

Asyst Reports Results for First Quarter of Fiscal 2009 FREMONT, Calif.--(BUSINESS WIRE)--Asyst Technologies, Inc. (Nasdaq:ASYT), the leader in Agile Automation™, today reported financial results for its fiscal first quarter ended June 30, 2008. Net loss for the fiscal first quarter according to GAAP was $10.6 million, or $0.21 per share, which compares with $12.9 million, or $0.26 per share, in the prior sequential quarter. Non-GAAP net loss for the fiscal first quarter was $7.2 million, or $0.14 per share, which compares with a net loss of $10.3 million, or $0.21 per share, in the prior sequential quarter. Net sales for the fiscal first quarter were $100.3 million, which compares with $94.3 million in the prior sequential quarter. Net sales related to automated material handling systems (AMHS) were $67.6 million, which compares with $62.0 million in the prior sequential quarter. Net sales related to tool and fab automation solutions were $32.7 million, which compares with $32.3 million in the prior sequential quarter. Steve Schwartz, chair and chief executive officer of Asyst, said, "Results for the quarter were in-line with our expectations and we are pleased with the progress of two of our key initiatives to drive shareholder value – developing and penetrating new products and reducing ongoing SG&A expense. We are on track with our product development programs, with multiple new products, customer evaluations, and design wins announced earlier this month. We believe these new products, combined with our status as a preferred supplier to many of the industry’s strongest customers, solidly positions Asyst for the next upturn in the semiconductor equipment cycle.” Michael A. Sicuro, chief financial officer, said, “Through our previously disclosed cost reduction initiatives, we achieved a $4 million decrease in ongoing selling, general & administrative expense quarter-on-quarter, while maintaining our commitment to new product development. We expect to achieve a further reduction in ongoing SG&A expenses in the September quarter and continue to expect improving operational performance in each quarter of the current fiscal year.” The company provided the following guidance for the fiscal second quarter ending Sept. 30, 2008: Consolidated net sales are expected to be in the range of $90-$95 million. AMHS sales are expected to be in the range of $65-$70 million, and tool and fab automation sales are expected to be approximately $25 million. Net loss in accordance with GAAP is expected to be in the range of $0.20 to $0.25 per share. Non-GAAP net loss is expected to be in the range of $0.12 to $0.17 per share. In calculating non-GAAP net loss per share, the company expects to exclude approximately $4.0 million for intangibles amortization, net of taxes, and fees and expenses related to its proxy contest. Mr. Schwartz concluded, “Based on ongoing discussions with customers, we continue to expect AMHS bookings to be stronger in the September quarter and expect the uplift to continue over the second half of our March 2009 fiscal year. That would support the beginnings of a recovery in our tool and fab automation product sales in the first half of calendar 2009, which is consistent with the general outlook for the broader equipment industry.”