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To: The Ox who wrote (57969)	10/22/2012 4:41:26 PM
From: The Ox	2 Recommendations Read Replies (1) \| Respond to of 95598

Ultra Clean Reports Third Quarter 2012 Financial Results Results in line with updated guidance as integration with AIT begins HAYWARD, Calif., Oct. 22, 2012 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), a leading developer and supplier of critical systems and subsystems for the semiconductor capital equipment, flat panel, medical, energy and research industries, today reported its financial results for the third quarter ended September 28, 2012. The financial information presented for the third quarter of 2012 includes a full quarter of operations of Advanced Integration Technologies ("AIT"), which Ultra Clean merged with on July 3, 2012. Revenue for the third quarter of 2012 was $100.8 million, a decrease of 1.1% compared to the second quarter of 2012 and a decrease of 4% compared to the same period a year ago. Semiconductor revenue was 86% of total revenue for the second and third quarters of 2012 and revenue outside the U.S. accounted for 26% of total revenue for the third quarter of 2012 compared to 37% for the previous quarter. Gross margin for the third quarter of 2012 was 14.2%, compared to 14.0% for the previous quarter and 12.2% for the same period a year ago. The Company recorded a net loss of $1.7 million, or $0.06 per share in the third quarter of 2012 compared to net income of $3.9 million, or $0.17 per share in the previous quarter and net income of $3.2 million, or $0.14 per share for the same period a year ago. The net loss for the third quarter of 2012 includes pre-tax charges of $2.0 million for amortization associated with the AIT transaction and $2.5 million of one-time transaction costs. Excluding these charges the Company would have reported net income of $1.7 million, or $0.06 per share. The company's tax rate for the third quarter of 2012 was 24%. Cash at the end of the third quarter of 2012 was $58.3 million, an increase of $7.2 million from the previous quarter. Outstanding debt on our new bank facility was $79.8 million primarily related to the merger with AIT. Clarence Granger, Ultra Clean's Chairman and Chief Executive Officer, stated: "On July 3, we announced that UCT completed the merger with Advanced Integration Technologies, which we believe significantly strengthens the value proposition for customers in all of our markets. I'm pleased with the progress made to date on the integration of AIT and am confident in the combined company's competitive position as a leading provider of critical systems and subsystems for all of our served markets." Commenting on Ultra Clean's corporate guidance, Granger noted: "We expect revenue for the fourth quarter of 2012 to range between $94 million to $99 million, with earnings (loss) per share in the range of $(0.03) to $0.00. Excluding amortization associated with the merger with AIT we expect earnings per share to be in the range of $0.01 to $0.05. We are forecasting a tax rate of 24% for the fourth quarter and a tax rate of 20% for the year."