Plasma-Therm, Inc. Announces Second Consecutive Year Of Record
Revenue & Earnings
ST. PETERSBURG, Fla., Jan. 15 /PRNewswire/ -- Plasma-Therm, Inc. (Nasdaq: PTIS - news) announced today its fourth
quarter 1997 and fiscal 1997 year end results. For the three months ended November 30, 1997, revenue increased 18% to
$12,299,282 with net income totaling $1,421,932 ($.12 per share), as compared to revenue of $10,457,604 and net income
of $605,348 ($.06 per share) for the fourth quarter 1996.
The Company reported an increase in revenue in fiscal 1997 to a record $44,444,657, a 17% increase over 1996 revenue of
$37,862,175. PTI also reported record net income of $4,661,120 in the 1997 ($0.41 per share) a 56% increase over 1996
net income of $2,993,586 ($0.28 per share). Earnings per share for the fiscal year were computed based on weighted average
number of shares outstanding of approximately 11,300,000 (1997) and 10,700,000 (1996).
Mr. Deferrari, President & COO, commented, ''I am very gratified that we have been able to grow the business despite the
turbulence which occurred during 1997 in both domestic and foreign financial markets. Our results for the year illustrate PTI's
ability to remain successful in a competitive industry, through responsible and managed growth. Plasma-Therm has been able
to enhance shareholder value by providing innovative solutions to customer applications in our four distinct markets --
Photomask, Thin Film Head, Optoelectronics/Telecommunications, and MEMS.''
Mr. Deferrari also noted that net profits increased, in part, as a result of continued efforts to reduce its cost of products sold
throughout the entire product line. Actual cost of products sold decreased to 58% of sales as compared to 62% of sales in
1996. In addition, sales of the Company's Versalock(R) 700 and the Shuttlelock(R) 770 ICP systems have increased to over
62% of total revenue in 1997 as compared to 49% of revenue in 1996.
In looking toward 1998, Mr. Deferrari stated, ''Although there will be challenges in our industry, I expect PTI's revenue to
grow 15-20% with earnings experiencing a 30-35% rate of growth.''
The statements contained in this release which are not historical facts may be deemed to contain forward-looking statements
with respect to events, the occurrence of which involve risks and uncertainties, including, without limitation, demand and
competition for the Company's services and products, and other risks or uncertainties detailed in the Company's Securities and
Exchange Commission filings.
Plasma-Therm, Inc., headquartered in St. Petersburg, Florida, is a leading producer of plasma process equipment primarily
used by manufacturers requiring expertise in thin film etching and deposition. More information about PTI may be obtained by
visiting their website at plasmatherm.com . |
