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Ultratech Announces Fourth Quarter And Year-End 2011 Results

Stocks in this article: UTEK

Ultratech, Inc. (Nasdaq: UTEK), today announced unaudited results for the three-month and one-year periods ended December 31, 2011.

For the fourth quarter of fiscal 2011, Ultratech reported net sales of $56.1 million as compared to $43.6 million during the fourth quarter of fiscal 2010. Ultratech’s net income for the fourth quarter of 2011 was $11.2 million, or $0.42 per share (diluted), as compared to net income of $6.3 million, or $0.25 per share (diluted) for the same quarter last year.

Ultratech’s net sales for the year ended December 31, 2011 were $212.3 million, as compared to $140.6 million for fiscal 2010. Ultratech posted net income for the year ended December 31, 2011 of $39.2 million, or $1.47 (diluted), as compared to net income of $16.8 million or $0.67 per share (diluted) in fiscal 2010.

Arthur W. Zafiropoulo, Chairman and Chief Executive Officer, stated, “Ultratech delivered record levels of net sales and net income in the fourth quarter and the year, reflecting the successful execution of our long term strategies for customer focus, growth and operations excellence. These outstanding results are the product of our leading technologies, the superb efforts of our employees, and our strong partnerships with our customers.”

“In this current environment of global market volatility, we remain focused on making critical strategic investments that extend our technical leadership, supported by our solid balance sheet and strong cash generation capabilities, that are designed to enable the company to deliver value to our customers and our shareholders,” Zafiropoulo concluded.

At December 31, 2011, Ultratech had $228 million in cash, cash equivalents and short-term investments. Working capital was $283 million and stockholders’ equity was $11.46 per share based on 25,837,994 total shares outstanding as of December 31, 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, January 26, 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, February 2, 2012. You may access the telephone replay by dialing 800-406-7325 and entering access code: 4506008.

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