SAN DIEGO -- Cymer Inc. here posted fourth-quarter revenues of $102.2 million, a 4% sequential increase from 98.4 million in the prior third quarter but a 31% jump from $78.0 million in Q4 1999.
The supplier of excimer-laser light sources for photolithography said its net income totaled $20.2 million compared to $18.1 million in Q3 2000 and $8.9 million in the fourth quarter of 1999. Cymer said it expects flat revenues in the first half of 2001 as chip makers hold back investments in the current industry slowdown.
"We shipped 138 system revenue units in the fourth quarter, compared to 128 systems shipped in the third quarter," said Bob Akins, chairman and CEO of Cymer. "During the fourth quarter, 108 Cymer light sources were installed at chip makers, increasing our year-to-date market share for 2000 to approximately 82%. As of Dec. 31, 2000, the number of Cymer light sources installed at chipmakers totaled 1,346," he said.
For the entire year, Cymer's revenues totaled $367.5 million in 2000, a 67% increase over $220.5 million in 1999. The company's net income for 2000 reached a record $63.8 million, more than seven times $8.6 million in earnings in 1999.
Bookings in the fourth quarter were at $98.6 million, and backlog declined 1% to $132.7 million at Dec. 31 compared to the end of the prior quarter on Sept. 30, said Bill Angus, senior vice president and chief financial officer of Cymer. "The overall book-to-bill ratio was 0.99 in the fourth quarter, but the book-to-bill for new systems was 1.03," said the CFO.
Cymer' said its recent forecast calls for installations to grow from 530 systems in 2000 to about 658 in 2001. In the first half of 2001, system shipments will range between 130 to 135 per quarter, with revenue being flat with sales in the fourth quarter of 2000, said Cymer. The San Diego company said it expects average selling prices for its systems to approach $550,000 in the second half of 2001.