SAN JOSE, Calif. Chip-equipment makers Advanced Energy, KLA-Tencor, Therma-Wave and Varian posted mixed results in the quarter.
KLA-Tencor Corp. (San Jose) reported net income of $105 million, or $0.52 a share, on revenues of $492 million for the fourth fiscal quarter.
This compares to net income of $96 million or $0.48 per diluted shares, on revenue of $450 million in the fourth quarter of fiscal 2004, and net income of $123 million, or $0.61 per diluted shares, on revenue of $542 million in the third quarter of fiscal 2005.
"KLA-Tencor realized another strong quarter of performance, in addition to delivering healthy gains in sales and profits for the full fiscal year," stated Ken Schroeder, chief executive of KLA-Tencor, in a statement.
On a geographic basis, Japan continued to post strong bookings for the quarter ended June 30, 2005. Japan was 36 percent of orders, higher than its historical average of 20 percent; U.S. was 29 percent of orders, higher than its historical average of 25 percent; Taiwan was 11 percent, below its historical average of 20 percent; Korea, China and Singapore combined were 15 percent of orders, below their combined historical average of 20 percent; and Europe was 9 percent, lower than its historical average of 15 percent.
Metrology rival Therma-Wave Inc. (Fremont, Calif.) said revenues for the fiscal first quarter of 2006 were $17.5 million, compared to net revenues of $21.1 million in the fiscal first quarter of 2005, a decline of approximately $3.6 million, or 17 percent.
Sequentially, net revenues increased $1.5 million, or 9 percent, compared to net revenues of $16.0 million reported for the fiscal fourth quarter of 2005, ended April 3, 2005.
Net income for the fiscal first quarter of 2006 was $2.4 million, or $0.07 per diluted share, compared to a net loss of $1.2 million, or minus $0.03 per diluted share, in the fiscal first quarter of 2005, and sequentially, to a net loss of $5.1 million, or minus $0.14 per diluted share, recorded in the fiscal fourth quarter of 2005.
Fiscal first quarter of 2006 net income includes a gain of $8.6 million, or approximately $0.23 per diluted share, from the previously announced sale of Therma-Wave's CCD-i integrated metrology product line and related assets to Tokyo Electron Limited (TEL) for a total consideration of approximately $9.95 million.
Revenue is expected to be in the range of $14-to-$17 million in the second quarter. Diluted net loss per share is expected to be within the range of $0.04-to-$0.12, excluding charges for restructuring.
Varian Semiconductor Equipment Associates Inc. (Gloucester, Mass.) said revenue for the third quarter of fiscal 2005 totaled $166.7 million, compared to revenue of $146.1 million for the same period a year ago.
Ion implanter specialist Varian Semiconductor recorded net income of $19.3 million, or $0.51 per diluted share during the third quarter of fiscal 2005, compared to net income of $19.3 million, or $0.52 per diluted share, for the same period a year ago.
The company expects revenue for the fourth quarter of fiscal 2005 to be between $138-to-$148 million. Earnings per share is anticipated to range from $0.29 to $0.37 per diluted share.
Subsystems supplier Advanced Energy Industries Inc. (Fort Collins, Colo.) sales were $87.4 million in Q2, up 1.4 percent compared to first quarter 2005 sales of $86.1 million and down 19.7 percent from second quarter 2004 sales of $108.9 million.
Net income for the second quarter was $5.9 million, or $0.18 cents per diluted share. Income from continuing operations was $3.3 million, or $0.10 per diluted share, compared to net income of $734,000, or $0.02 per diluted share in the first quarter of 2005 and net income of $4.5 million or $0.13 per diluted share in the second quarter of 2004. Included in the second quarter 2005 income from continuing operations is a $1.1 million, or $0.03 per diluted share, after-tax gain from the sale of certain marketable securities.