Ultratech Releases Fourth Quarter and Year-End 2012 Results [Manufacturing Close - Up]
(Manufacturing Close - Up Via Acquire Media NewsEdge) Ultratech, Inc., a supplier of lithography and laser-processing systems used to manufacture semiconductor devices and high- brightness LEDs (HB-LEDs), announced unaudited results for the three- month and one-year periods ended December 31.
In a release dated January 31, the Company noted that for the fourth quarter of fiscal 2012, Ultratech reported net sales of $65.6 million as compared to $56.1 million during the fourth quarter of fiscal 2011. Ultratech's net income for the fourth quarter of 2012 was $13.4 million, or $0.48 per share (diluted), as compared to net income of $11.2 million, or $0.42 per share (diluted), for the same quarter last year.
Ultratech's net sales for the year ended December 31, were $234.8 million, as compared to $212.3 million for fiscal 2011. Ultratech posted net income for the year ended December 31, of $47.2 million, or $1.70 (diluted), as compared to net income of $39.2 million or $1.47 per share (diluted), in fiscal 2011.
Arthur W. Zafiropoulo, Chairman and Chief Executive Officer, stated, "Ultratech completed 2012 with positive momentum financially and operationally. We again achieved record quarterly levels of net sales and net income. Due to our strong balance sheet and financial success, over the course of 2012, we made key acquisitions and introduced exciting new products that bolster our position in existing markets and expand our addressable markets. Through the acquisitions of Cambridge Nanotech's atomic layer deposition solutions and IBM's patents for packaging, we have extended our market reach and solidified our technology leadership. With the introduction of four new laser processing products - LSA101LP, LSA101HP, LSA201LP, and LSA201HP - and our Superfast 3G CGS Inspection System, we have leveraged our existing technology to broaden our product portfolio and enter new and exciting markets."
"In 2013 we look forward to building upon this momentum as we ramp sales of our new products, expand our leadership position and continue to deliver strong financial performance and value to our shareholders. We believe these objectives are achievable with the dedication and loyalty of our employees and customers worldwide," Zafiropoulo concluded.
At December 31, Ultratech had $302.5 million in cash, cash equivalents and short-term investments. Working capital was $349.5 million and stockholders' equity was $13.85 per share based on 27,092,242 total shares outstanding as of December 31.
Ultratech, Inc. designs, manufactures and markets photolithography and laser processing equipment.
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