SAN FRANCISCOChip equipment vendor FSI International Inc. saw its revenue decline 45 percent year-to-year in the fiscal first quarter, ended Nov. 29, the company said Tuesday (Dec. 23).
Sales for quarter totaled $12.2 million, down from 22.4 million for the same period of fiscal 2008, FSI said. The company's net loss for the quarter was $5.3 million, or 17 cents per share, compared to net loss of $2.1 million, or 7 cents per share for the year-ago quarter, FSI (Chaska, Minn.) said.
Orders of $11.3 million were below the $13 to $15 million guidance the company provided, FSI said, primarily due to continued weak industry conditions and customer-initiated delays.
"The tightening of the credit market, a decline in the value of personal investments and increasing unemployment are adversely impacting consumer confidence and technology spending," said Don Mitchell, FSI chairman and CEO, in a statement. "As a result most semiconductor manufacturers are reducing production and their factory utilization levels are on a decline. We anticipate that this situation will persist until at least the middle of calendar 2009."
FSI said it expects fiscal second quarter orders and revenue of $11 million to $14 million, including the receipt of orders that were originally anticipated during the first quarter.