Ultratech, Inc. (Nasdaq: UTEK), today announced unaudited results for the three-month period ended March 31, 2012.
For the first quarter of fiscal 2012, Ultratech reported net sales of $49.6 million as compared to $47.4 million during the first quarter of fiscal 2011. Ultratech's net income for the first quarter of 2012 was $10.2 million, or $0.38 per share (diluted), as compared to net income of $7.9 million, or $0.30 per share (diluted) for the same quarter last year.
Arthur W. Zafiropoulo, Chairman and Chief Executive Officer, stated, “Ultratech again exceeded our initial expectations as strong demand continued for our technologically advanced products, which enable our customers to succeed in the three key business areas that we serve: advanced packaging, laser processing and high-brightness LED (HBLED) markets. In particular, our strong financial performance reflects increased momentum in the sales of our 28-nm laser annealing products and the benefits of increasing production capacity in our Singapore facility.”
“Our focus remains, as always, to deliver outstanding products and services to our customers around the world,” continued Zafiropoulo, “and to create long-term growth and value for our stockholders.”At March 31, 2012, Ultratech had $239.1 million in cash, cash equivalents and short-term investments. Working capital was $294.9 million and stockholders' equity was $11.70 per share based on 26,208,656 total shares outstanding as of March 31, 2012. 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 19, 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, April 26, 2012. You may access the telephone replay by dialing 800-406-7325 and entering access code: 4525973#.
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