FREMONT, Calif.--Still suffering from a one-two punch--the severe industry downturn and the financial effects of acquiring two companies--Mattson Technology Inc. today reported a net loss of $67.1 million on net sales of $48.7 million in the fourth quarter of 2001. The loss included $36.1 million in charges for inventory write-downs, restructuring, and other one-time items.
The supplier of wafer fab equipment said its net sales increased 32.8% sequentially from $36.6 million in Q3 of 2001, when Mattson had a net loss of $186.9 million, including charges. The results include businesses of Steag Electronics Systems' Semiconductor Division and CFM Technologies Inc., which were acquired last year by Mattson (see Jan. 3, 2001, story).
David Dutton, president and CEO of Mattson, said, "2001 proved to be a very difficult year, with the financial effects related to the integration of our acquisitions coming at the same time as a sudden and drastic downturn in the industry. However, I believe that our most difficult challenges are behind us.
"We have resized the company and are now better aligned with current business conditions," he said, referring to a consolidation of businesses into two divisions and the elimination of 30% of the company's workforce (see Dec. 13 story).
Mattson's shipment of systems decreased 26.5% sequentially in the fourth quarter to $49.5 million from $67.3 million in Q3 2001. Deferred revenue at the end of the fourth quarter was $136.6 million, a slight decrease from $136.9 million at the end of Q3. Bookings for the fourth quarter were $19.7 million, a 21.2% decrease from $25.0 million in Q3 of 2001.