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TheStreet Open House

Ultratech Announces Second Quarter 2012 Results

Stocks in this article: UTEK

Ultratech, Inc. (Nasdaq: UTEK), today announced unaudited results for the three-month period ended June 30, 2012.

For the second quarter of fiscal 2012, Ultratech reported net sales of $59.1 million as compared to $53.9 million during the second quarter of fiscal 2011. Ultratech's net income for the second quarter of 2012 was $11.2 million, or $0.41 per share (diluted), as compared to net income of $9.7 million, or $0.36 per share (diluted) for the same quarter last year.

Arthur W. Zafiropoulo, Chairman and Chief Executive Officer, stated, “Ultratech continued to benefit from strong demand for our cutting-edge lithography and laser-processing systems, which our customers utilize to manufacture semiconductor devices and high-brightness LEDs (HB-LEDs). The shipment of our 50 th laser spike anneal system during the second quarter marked an important milestone for the Company and underscores the importance of our technology and the potential for long-term growth.”

“With increased revenues and a solid cash position, Ultratech is poised for success. We continue to build an enviable patent portfolio recently improved by the acquisition of numerous patents from IBM, invest in technology-advancing product offerings, and foster key relationships with customers worldwide,” Zafiropoulo concluded.

At June 30, 2012, Ultratech had $249.2 million in cash, cash equivalents and short-term investments. Working capital was $305.8 million and stockholders’ equity was $12.26 per share based on 26,430,916 total shares outstanding as of June 30, 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, July 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, July 26, 2012. You may access the telephone replay by dialing 800-406-7325 and entering access code: 4549054#.

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