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Zygo Reports Results For Fourth Quarter And Full Year Fiscal 2013

MIDDLEFIELD, Conn., Aug. 15, 2013 (GLOBE NEWSWIRE) -- Zygo Corporation (Nasdaq:ZIGO) today announced its financial results for the fourth quarter and fiscal year ended June 30, 2013 and points out the following highlights in those results:
  • Fourth quarter revenue increased 16% over the previous quarter.  
  • Full year book to bill ratio was 1.15 to 1.0.  
  • Fourth quarter bookings increased 18% over the prior year quarter to $42.0 million.  
  • Multiple metrology and optics bookings in support of 450 mm wafer systems development.  
  • Backlog increased 32% from June 30, 2012 to $89.8 million.

Fourth Quarter results

Revenue in the fiscal 2013 fourth quarter was $40.0 million compared with $34.5 million in fiscal 2013 third quarter and $44.3 million in the comparable prior year quarter.

Net income in the fiscal 2013 fourth quarter was $2.5 million, or $0.13 per diluted share, compared with $1.4 million, or $0.07 per diluted share, in the fiscal 2013 third quarter and $25.0 million, or $1.32 per diluted share, recorded in the fiscal 2012 fourth quarter. As reflected in the "Reconciliation of Reported Results to Non-GAAP Results" in this press release, the "adjusted" net income and "adjusted" earnings per diluted share on a non-GAAP basis were $2.7 million and $0.14 in the fiscal 2013 fourth quarter, after eliminating the effects of tax adjustments and $6.8 million and $0.36 in the fiscal 2012 fourth quarter, after eliminating $18.2 million related to reversal of the deferred tax valuation allowance and expenses of a terminated acquisition.

Bookings for the fiscal 2013 fourth quarter were $42.0 million, compared to bookings of $35.5 million in the fiscal 2012 fourth quarter. Bookings for the Metrology Solutions Division were 58% of the total; Optical Systems Division bookings were 42%. 

Full Year Results

Revenue for the full year ended June 30, 2013 was $149.4 million compared with $166.8 million for fiscal 2012.

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