WESTWOOD, Mass.--ADE Corp. here reported a 76% increase in revenues to $21.8 million in the company's first fiscal quarter, ended July 31, compared to $12.4 million in the period last year. The supplier of metrology and inspection systems posted a net loss of $1.2 million in the quarter vs. a net loss of $7.2 million in the period last year.
The company's loss of $0.09 per share was better than Wall Street's expectation. A survey of financial analysts by First Call/Thomson Financial showed the consensus at a loss of $0.11 per share prior to ADE's financial release on Wednesday.
"Momentum is building in ADE's core markets as a consequence of worldwide demand for increasingly powerful digital consumer, communications and information technology products and the semiconductor and data storage devices that enable them," said Robert Abbe, president and chief executive officer of ADE. "Pacific Rim device maker capacity is booked up into the indefinite future and foundries are ramping up quickly to meet accelerating chip demand. Wafer requirements are also building in the United States, further fueling demand for ADE's line of industry-leading metrology and inspection equipment to support additional wafer capacity as wafer producers operate at or near their existing capacity limits.
"Based on anticipated 200mm wafer shortages together with 300mm expansion plans already announced by key wafer makers, ADE anticipates that top-line growth will continue through the remainder of fiscal 2001," Abbe added.