Now I'd like to introduce our Chairman and CEO, Rhea Posedel. Rhea?
Thank you, Gary. Good afternoon, and welcome to our conference call for the fourth quarter of fiscal 2011. Net sales for the fourth quarter of fiscal 2011 were $3.7 million, slightly higher than the fourth quarter of fiscal 2010, but down 12% on a sequential quarter basis compared to net sales of $4.2 million in the previous quarter. The net loss for the quarter was $144,000, an improvement from the prior quarter's net loss of $946,000.
During the fourth quarter, we benefited from an increase in ABTS system revenues. The balance of the shipments came mostly from FOX-1 WaferPak contactors and system upgrades for wafer sort testing at NOR Flash. These WaferPak shipments indicate to us that Spansion, a key customer and leading NOR flash producer, is achieving ongoing cost and throughput benefits with our FOX full wafer contact solution.We had a number of additional highlights that I'd like to bring to your attention.First, Spansion continues to invest in upgrading their FOX-1 full wafer parallel testers and buying WaferPak contactors for new and existing devices. During the fourth quarter, we announced booking over $2 million in orders for FOX-1 WaferPak contactors and services. Second, we're pleased to report that Spansion has moved all of their FOX-1 testers from TI's facility in Aizu, Japan. About half were moved to their Fab 25 facility in Austin, Texas. Most importantly, a number of FOX-1 testers have been placed at a leading Taiwanese test subcontractor. Having FOX-1s in use at a leading wafer sort test subcon could potentially help us sell FOX-1s and WaferPak contactors to other Taiwanese IC producers. Third, we are pleased to announce on June 2 that we sold our ownership in ESA, our distributor in Southeast Asia for nearly $1.4 million in cash.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV