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Technology Stocks : Ultratech Stepper -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (3617)	1/27/2011 5:31:38 PM
From: Investor2	Respond to of 3696

Ultratech Announces Fourth Quarter and Year-End 2010 Results finance.yahoo.com SAN JOSE, Calif.--(BUSINESS WIRE)-- Ultratech, Inc. (Nasdaq:UTEK - News), today announced unaudited results for the three-month and one-year periods ended December 31, 2010. For the fourth quarter of fiscal 2010, Ultratech reported net sales of $43.6 million as compared to $26.6 million during the fourth quarter of fiscal 2009. Ultratech’s net income for the fourth quarter of 2010 was $6.3 million, or $0.25 per share (diluted), as compared to net income of $1.4 million, or $0.06 per share (diluted) for the same quarter last year. Ultratech’s net sales for the year ended December 31, 2010 were $140.6 million, as compared to $95.8 million for fiscal 2009. Ultratech posted net income for the year ended December 31, 2010 of $16.8 million, or $0.67 per share (diluted), as compared to net income of $2.1 million, or $0.09 per share (diluted) in fiscal 2009. Arthur W. Zafiropoulo, Chairman and Chief Executive Officer, stated, “Robust product demand in each of our major end markets, certain geographies and product offerings, coupled with solid execution by the company resulted in strong financial results in the fourth quarter. During the quarter, we introduced the LSA100L, a new dual-beam laser spike anneal system for leading-edge logic devices. With this new system introduction, Ultratech continues its commitment to develop cost-effective, advanced technology solutions that are designed to enable the realization of the technology and extend the served market for middle-of-line product roadmaps of its customers worldwide.” “Ultratech ended a very strong year by delivering results that exceeded expectations," continued Zafiropoulo. “The company is executing at a high level and delivering growth in financial performance. Our focus on operational and financial excellence gives us the confidence that we can adequately fund the necessary investments in technology while enhancing our return to investors.” “As we look to the future, Ultratech’s market leadership, customer focus and the breadth of our technologies, including advanced packaging flip-chip lithography solutions, high-brightness LEDs low cost lithography products, and our low cost-of-ownership laser spike anneal millisecond annealing systems, we believe, position the company to capitalize on industry growth and to deliver strong financial performance as we progress through the cycle. Of course, the driving force behind our success is our strong support and collaboration of our customers and business partners as well as the execution of our worldwide workforce,” concluded Zafiropoulo. At December 31, 2010, Ultratech had $184 million in cash, cash equivalents and short-term investments. Working capital was $217 million and stockholders’ equity was $9.36 per share based on 24,739,040 total shares outstanding December 31, 2010.