Ultratech, Inc., announced unaudited results for the three-month period ended April 2, 2011.
For the first quarter of fiscal 2011, Ultratech reported net sales of $47.4 million as compared to $27.5 million during the first quarter of fiscal 2010. Ultratech’s net income for the first quarter of 2011 was $7.9 million, or $0.30 per share (diluted), as compared to net income of $1.9 million, or $0.08 per share (diluted) for the same quarter last year.
Arthur W. Zafiropoulo, Chairman and Chief Executive Officer, stated, “We are pleased to announce another strong quarter of financial results that exceeded our expectations. High levels of demand in each of our served markets, coupled with solid execution in our global manufacturing operations drove increased revenue and earnings during the quarter.” Zafiropoulo added, “Our strong financial performance, as a result of Ultratech’s technology and market leadership, demonstrates the value of our technology in helping our customers execute on their leading edge technology roadmaps.”
“We are committed to creating value for our customers and stockholders and believe that we are demonstrating the results of that commitment through our business and financial performance,” concluded Zafiropoulo.
At April 2, 2011, Ultratech had $189 million in cash, cash equivalents and short-term investments. Working capital was $231 million and stockholders’ equity was $9.68 per share based on 25,147,136 total shares outstanding as of April 2, 2011.
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, April 21, 2011. 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, April 27, 2011. You may access the telephone replay by dialing 800-406-7325 and entering access code: 4429090.
About Ultratech: 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 45-nm and below production of state-of-the-art consumer electronics. Visit Ultratech online at: http://www.ultratech.com.