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

To: Donald Wennerstrom who wrote (39798)	8/5/2008 12:07:32 PM
From: Donald Wennerstrom	Read Replies (2) \| Respond to of 96009

Semitool Announces Third Quarter Results for Fiscal 2008 Q3 Net Income Improves to $3.4M, or $0.11 per Share, on Revenue of $67.0M; Year-to-Date Net Tool Bookings Up 66% Versus Comparable 2007 Period KALISPELL, MT--(Marketwire - August 4, 2008) - Semitool, Inc. (NASDAQ: SMTL), a leading manufacturer of wafer processing equipment for the semiconductor industry, today reported financial results for its third fiscal quarter ended June 30, 2008. Revenue increased 44 percent to $67.0 million versus revenue of $46.6 million in the third quarter a year ago. Gross margin was 48 percent versus 47 percent in the comparable year-ago quarter. Net income increased to $3.4 million, or $0.11 per share, versus breakeven bottom-line results in last year's third quarter. Semitool reported its fifth consecutive quarter of increased bookings, which improved 33 percent to $67.1 million from $50.6 million in the third quarter last year. Deferred revenue at the end of the third quarter was $17.8 million and shipping backlog was $74.9 million, combining for a total revenue backlog of $92.7 million. Product shipments during the third quarter were $63.8 million. Larry Murphy, president and chief operating officer, said, "Our strong third quarter bookings were fueled by additional market share gains in Korea and China. We booked more Raiders in these regions during Q3 than we have sold in the last four years combined. The momentum behind our Asian growth strategy continues to build, as roughly 67 percent of our third quarter tool bookings came out of the region. Year-to-date bookings to Asian customers are up 266 percent versus last year." "Even with the pullback in capital spending among several major device manufacturers, our year-to-date net tool bookings are up 66 percent versus the same period in fiscal 2007," Murphy added. "Demand remains especially strong for wafer-level packaging and copper plating for memory applications." Through nine months, revenue increased to $178.5 million from $168.0 million at the nine-month mark last year. Net income was $4.8 million, or $0.15 per share, versus $6.7 million, or $0.21 per share, in the comparable year-ago period. Cash and cash equivalents at June 30, 2008, were $13.9 million. Total current assets were $196.0 million and working capital was $134.1 million. Total shareholders' equity was $175.8 million. Guidance Management expects fourth quarter revenue to be in a range of $62 million to $64 million, which would result in full-year revenue of between $240.5 million and $242.5 million. Fourth quarter earnings per share are expected to range from $0.05 to $0.07, which would result in full-year EPS of between $0.20 and $0.22. Fourth quarter shipments are expected to be in a range of $61 million to $62 million. marketwire.com