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BRIEF: Mattson suffers quarterly loss, reduces costs, seeks financing [Contra Costa Times, Walnut Creek, Calif.]
[July 27, 2012]

BRIEF: Mattson suffers quarterly loss, reduces costs, seeks financing [Contra Costa Times, Walnut Creek, Calif.]

(Contra Costa Times (Walnut Creek, CA) Via Acquire Media NewsEdge) July 27--Fremont-based Mattson Technology suffered a second-quarter loss and an erosion in sales, the semiconductor equipment maker reported Thursday.

The big problem was a delay in a major order, executives with Fremont-based Mattson said. That delay was announced in early July.

"Primarily due to a request from a foundry customer to delay the shipment of systems, net sales for the second quarter were lower than expected," Mattson CEO David Dutton said.

Mattson lost $3.3 million on sales of $34.9 million during the April-June period. In the year-ago quarter, Mattson lost $5.2 million. Sales fell 31.9 percent.

"We expect to continue to be challenged with significantly lower net sales in the second half of 2012," Dutton said.. We are continuing to focus on cost reduction activities. We are also continuing our efforts to secure asset based financing. We believe these measures will provide us with adequate liquidity to address our working capital needs." ___ (c)2012 the Contra Costa Times (Walnut Creek, Calif.) Visit the Contra Costa Times (Walnut Creek, Calif.) at www.contracostatimes.com Distributed by MCT Information Services

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