Global Sources
EE Times-Asia
Stay in touch with EE Times Asia
?
EE Times-Asia > Manufacturing/Packaging
?
?
Manufacturing/Packaging??

Fab tool vendors post poor Q1 results

Posted: 24 Apr 2009 ?? ?Print Version ?Bookmark and Share

Keywords:fab tool? Q1 results? market decline?

Results from fab tool vendors including Cymer, Lam, MKS and Novellus separately posted horrible results for the quarter. And it could get worse before it gets better.

Novellus Systems Inc. said sales for Q1 09 were $98.9 million, down 47.5 percent from Q4 08 net sales of $188.5 million, and down 68.6 percent from Q1 08 net sales of $314.7 million.

The net loss for Q1 09 was $66.4 million, or minus $0.69 per diluted share, compared to Q4 08 net loss of $130.3 million, or minus $1.36 per diluted share, and down from Q1 08 net income of $15.5 million, or $0.15 per diluted share.

First quarter 2009 results of operations include a $19.4 million charge as a result of a recent California tax law change. It incurred other charges of $2.0 million primarily in connection with layoffs.

Bookings in Q1 09 were $77.8 million, down $4.9 million or 5.9 percent from Q4 08 bookings of $82.7 million. First quarter 2009 shipments of $92.1 million were down by $83.5 million or 47.6 percent from $175.6 million reported for the fourth quarter of 2008.

Richard S. Hill, chairman and CEO of Novellus, painted a mixed picture. "The economic environment continues to be challenging and we remain disciplined and focused on cash flow and cost containment. We are cautiously optimistic that our customers' order activity levels have stabilized and are beginning to rebound, although still at relatively low levels compared to our expectations," he said in a statement.

Meanwhile, Lam Research Corp. said revenue for the quarter was $174.4 million and net loss was $198.4 million, or minus $1.58 per diluted share, compared to revenue of $283.4 million, and net loss of $24.2 million, or minus $0.19 per diluted share, for the December 2008 quarter.

In the like period a year ago, Lam posted sales of $613.8 million and a net of $103.5 million, or $0.82 a share. During the most recent period, the company has recorded a non-cash goodwill impairment charge of approximately $89.1 million for its Clean Product Group.

For Q1 09, Cymer Inc. said net loss totaled $11.48 million, or minus $0.39 per share, compared to net income of $12.89 million, or $0.41 per share, in the first quarter of 2008 and net income of $3.9 million equal to $0.13 per share (diluted) in Q4 08.

Revenue totaled $56.49 million compared to revenue of $123.9 million in Q1 08, and revenue of $100.4 million in Q4 08.

For Q2, revenue to be approximately equivalent to the revenue reported for Q1 09.

Another vendor, subsystems supplier MKS Instruments Inc., said sales were $76.7 million, down 39 percent from $125.2 million in the fourth quarter of 2008, and down 60 percent from $193.4 million in Q1 08.

The net loss was $16.5 million, or minus $0.34 per basic share, compared to a net loss of $6.3 million, or minus $0.13 per basic share in the fourth quarter of 2008, and net income of $20.4 million, or $0.39 per diluted share in Q1 08.

MKS' Q2 sales may range from $55 to $75 million. At these volumes, the net loss could range from $0.36 to $0.21 per basic share.

- Mark LaPedus
EE Times





Article Comments - Fab tool vendors post poor Q1 result...
Comments:??
*? You can enter [0] more charecters.
*Verify code:
?
?
Webinars

Seminars

Visit Asia Webinars to learn about the latest in technology and get practical design tips.

?
?
Back to Top