Zygo Reports Results For Third Quarter Fiscal 2013

MIDDLEFIELD, Conn., May 9, 2013 (GLOBE NEWSWIRE) -- Zygo Corporation (Nasdaq:ZIGO) today announced its financial results for the third quarter of fiscal 2013 ended March 31, 2013 and points out the following highlights in those results:
  • Bookings were $50.2 million – 18% more than previous quarter fiscal 2013 bookings and a record for bookings in a quarter.
  • Backlog increased to $88.9 million, a 6-year high, the second highest end-of-quarter result.
  • Book-to-bill ratio of 1.46. 

Revenue in the third quarter of fiscal 2013 was $34.5 million compared with $34.6 million in second quarter fiscal 2013 and $38.5 million in the comparable prior year quarter. Revenue for the first nine months of fiscal 2013 was $109.4 million, compared with $122.5 million in the comparable prior year period.

Net income in the third quarter of fiscal 2013 was $1.4 million, or $0.07 per diluted share, compared with $1.6 million, or $0.08 per diluted share, in the second quarter of fiscal 2013 and $5.4 million, or $0.29 per diluted share, recorded in the third quarter of fiscal 2012. Net income for the first nine months of fiscal 2013 was $5.3 million, or $0.28 per diluted share, compared with $18.1 million, or $0.97 per diluted share, recorded for the first nine months of fiscal 2012.

Bookings for the third quarter of fiscal 2013 were $50.2 million, compared with $42.8 million in the previous quarter and $45.6 million in the prior fiscal year third quarter. Bookings for the Metrology Solutions Division were 80% of the total; Optical Systems Division bookings were 20%. Backlog increased to $88.9 million at March 31, 2013 from $73.2 million at December 31, 2012 and $76.8 million at March 31, 2012. The Metrology Solutions Division represented 52% of the total ending backlog, with 48% associated with the Optical Systems Division.

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