SMTL » Topics » Semitool Announces Fiscal Second Quarter 2005 Results - Bookings Up 10 Percent Versus Prior Quarter -
This excerpt taken from the SMTL 8-K filed Apr 26, 2005.
Semitool Announces Fiscal Second Quarter 2005 Results Bookings Up 10 Percent Versus Prior Quarter
KALISPELL, MT April 26, 2005 Semitool, Inc. (NASDAQ: SMTL), a manufacturer of wafer processing equipment for the semiconductor industry, today reported financial results for the fiscal second quarter and six-month period ended March 31, 2005.
Revenue for the fiscal second quarter was $46.3 million, up 34 percent compared to the second quarter fiscal 2004 revenue of $34.6 million, which included $7.5 million in license fee income. The second quarter gross margin was 51.9 percent, compared to 64.5 percent (54.7 percent exclusive of license fee income) in the year ago second quarter. Net income for the period was $2.5 million, or $0.09 per diluted share, compared to net income of $4.1 million or $0.14 per diluted share ($0.03 loss per diluted share exclusive of the license fee income) in the second quarter of fiscal 2004.
Second quarters shipments of $48.9 million included 11 RaiderTM tools or 53 percent of shipments, said Ray Thompson, chairman and chief executive officer of Semitool. We expect to ship 20 Raiders during this quarter. Also, we are encouraged by the growing interest in Semitools unique wafer thinning technology. We continue to run samples for new, potential customers.
Larry Murphy, Semitools president and chief operating officer, said, Our focus on Asia over the past year is yielding results. Asian bookings increased 27 percent compared with the first six months of fiscal 2004. We expect the selling resources we added in the second quarter will further our growth in the Asian region. It is notable that international sales are an increasing percentage of our business, as in the last six months 74 percent of sales came from outside of North America.
Revenue for the six-month period ended March 31, 2005 was $95.2 million, compared to $63.2 million for the six-month period ended March 31, 2004. Net income for the period was $7.5 million, or $0.26 per diluted share, compared to net income of $4.8 million, or $0.17 per diluted share, for the same period last year.
Bookings for the second quarter of 2005 were $46.0 million, compared with $42.0 million in bookings in the first quarter of 2005. Shipments for the second quarter of fiscal 2005 were $48.9 million. At March 31, 2005, deferred revenue was $28.9 million and the companys shipping backlog was $45.7 million.
Cash, cash equivalents and marketable securities were $24.0 million at March 31, 2005, compared to $19.3 million at the end of the first quarter of fiscal 2005.
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