SAN JOSE, Calif. — (BUSINESS WIRE) — July 19, 2012 — Ultratech, Inc. (Nasdaq: UTEK), today announced unaudited results for the three-month period ended June 30, 2012.
For the second quarter of fiscal 2012, Ultratech reported net sales of $59.1 million as compared to $53.9 million during the second quarter of fiscal 2011. Ultratech's net income for the second quarter of 2012 was $11.2 million, or $0.41 per share (diluted), as compared to net income of $9.7 million, or $0.36 per share (diluted) for the same quarter last year.
Arthur W. Zafiropoulo, Chairman and Chief Executive Officer, stated, “Ultratech continued to benefit from strong demand for our cutting-edge lithography and laser-processing systems, which our customers utilize to manufacture semiconductor devices and high-brightness LEDs (HB-LEDs). The shipment of our 50th laser spike anneal system during the second quarter marked an important milestone for the Company and underscores the importance of our technology and the potential for long-term growth.”
“With increased revenues and a solid cash position, Ultratech is poised for success. We continue to build an enviable patent portfolio recently improved by the acquisition of numerous patents from IBM, invest in technology-advancing product offerings, and foster key relationships with customers worldwide,” Zafiropoulo concluded.
At June 30, 2012, Ultratech had $249.2 million in cash, cash equivalents and short-term investments. Working capital was $305.8 million and stockholders’ equity was $12.26 per share based on 26,430,916 total shares outstanding as of June 30, 2012.
Conference Call Information
The conference call will be broadcast live over the Internet beginning at 11:00 a.m. Eastern Time/8:00 a.m. Pacific Time on Thursday, July 19, 2012. To listen to the call over the internet or to obtain dial-in information for the call, please go to the investor relations section of the Ultratech website at http://ir.ultratech.com.
If you are unable to attend the live conference call, a replay will be available on Ultratech’s website. If you do not have Internet access, a replay of the call will be available three hours after the conclusion of the call and run until 9:00 p.m. Pacific Time, July 26, 2012. You may access the telephone replay by dialing 800-406-7325 and entering access code: 4549054#.
Ultratech, Inc. (Nasdaq: UTEK) designs, manufactures and markets photolithography and laser processing equipment. Founded in 1979, the company’s market-leading advanced lithography products deliver high throughput and production yields at a low, overall cost of ownership for bump packaging of integrated circuits and high-brightness LEDs (HB-LEDs). A pioneer of laser processing, Ultratech developed laser spike anneal technology, which increases device yield, improves transistor performance and enables the progression of Moore’s Law for 32-nm and below production of state-of-the-art consumer electronics. Visit Ultratech online at: www.ultratech.com.
Certain of the statements contained herein, which are not historical
facts and which can generally be identified by words such as
“anticipates,” “expects,” “thinks,” “intends,” “will,” “could,”
“believes,” “poised,” “estimates,” “continues,” and similar expressions,
are forward-looking statements under Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended, that involve risks and uncertainties, such as risks
related to timing, delays, deferrals and cancellations of orders by
customers, including as a result of semiconductor manufacturing capacity
as well as our customers’ financial condition and demand for
semiconductors; demand for consumer devices; industry growth within the
company’s served markets; continued delivery of financial performance
and value; cyclicality in the semiconductor and nanotechnology
industries; our dependence on new product introductions and market
acceptance of new products and enhanced versions of our existing
products; lengthy sales cycles, including the timing of system
installations and acceptances; lengthy and costly development cycles for
laser-processing and lithography technologies and applications;
integration, development and associated expenses of the laser processing
operation; general economic and financial market conditions including
impact on capital spending, as well as difficulty in predicting changes
in such conditions; rapid technological change and the importance of
timely product introductions; customer concentration; pricing pressures
and product discounts; high degree of industry competition; intellectual
property matters; changes in pricing by us, our competitors or
suppliers; international sales and operations; timing of new product
announcements and releases by us or our competitors; ability to volume
produce systems and meet customer requirements; sole or limited sources
of supply; effect of capital market fluctuations on our investment
portfolio; ability and resulting costs to attract or retain key
personnel; dilutive effect of employee stock option grants on net income
per share, which is largely dependent upon our achieving and maintaining
profitability and the market price of our stock; mix of products sold;
outcome of litigation; manufacturing variances and production levels;
timing and degree of success of technologies licensed to outside
parties; product concentration and lack of product revenue
diversification; inventory obsolescence; asset impairment; changes to
financial accounting standards; effects of certain anti-takeover
provisions; future acquisitions; volatility of stock price; foreign
government regulations and restrictions; business interruptions due to
natural disasters or utility failures; environmental regulations; and
any adverse effects of terrorist attacks in the United States or
elsewhere, or government responses thereto, or military actions
in Iraq, Afghanistan and elsewhere, on the economy, in general, or on
our business in particular. Such risks and uncertainties are described
in Ultratech’s SEC reports including its Annual Report on Form 10-K
filed for the year ended December 31, 2011 and our quarterly report on
Form 10-Q for the quarter ended March 31, 2012. Due to these and
additional factors, the statements, historical results and percentage
relationships set forth herein are not necessarily indicative of the
results of operations for any future period. These forward-looking
statements are based on management’s current beliefs and expectations,
some or all of which may prove to be inaccurate, and which may change.
We undertake no obligation to revise or update any forward-looking
statements to reflect any event or circumstance that may arise after the
date of this release.