CHANDLER, Ariz.--SpeedFam-IPEC Inc. today reported a 2.7% sequential decline in revenues to $25.1 million in its fiscal third quarter, ended March 2, compared to $25.8 million in the prior three-month period. The company's revenues were 57% lower than $58.8 million in the quarter last year.
Excluding one-time charges, SpeedFam-IPEC's net loss for the fiscal quarter was $10.4 million compared to a net loss of $13.6 million in the prior quarter and a loss of $50.9 million, which included one-time charges. (An earlier version of this story incorrectly said the $50.9 million loss was for the just-ended fiscal quarter.)
The Chandler-based supplier of chemical mechanical planarization (CMP) systems said its net losses for the first three quarters of the fiscal 2002 year have totaled $122.8 million vs. a net loss of $89.1 million in the same nine-month period last year.
While the tool supplier struggles with the downturn in semiconductor capital spending, it is making headway in its efforts to win orders for the new Momentum orbital hard-platen CMP system, said Richard J. Faubert, president and CEO of SpeedFam-IPEC. He said the objective is to secure six 200-mm and three 300-mm system evaluations at top-ranking device manufacturers.
"Importantly, we shipped our first Momentum300 system to a top-10 device manufacturing group for the volume production of DRAM products during the third quarter," he said. The chief executive officer said SpeedFam-IPEC has received a purchase order from a Japanese consortium for a Momentum300 system in copper and ultra-low-k dielectric development and below 0.10-micron processes.