San Jose--July 22, 1997--AG Associates (San Jose) reported results for the third quarter of fiscal 1997 ended June 30, 1997.
Net sales were $13.4 million, compared to $11.1 million in the prior quarter and $17.2 million in the third quarter of fiscal 1996. Net loss for the third quarter was $0.8 million, or $0.14 per share, compared to a net loss of $2.2 million, or $0.37 per share, for the prior quarter and a net income of $0.04 million, or $0.01 per share, for the same period last year.
For the nine months ended June 30, 1997, net sales were $33.7 million, compared to $62.3 million for the comparable period a year ago. Net loss for the nine months was $4.3 million, or $0.73 per share, compared to a net income of $4.7 million, or $0.76 per share, for the same period last year.
During the quarter, AG Associates also announced that it was served with a patent infringement complaint from Applied Materials. The company has commenced talks with Applied Materials to resolve the complaint and does not believe that it infringes on the two patents mentioned in the complaint.
San Jose, CA
Fax: (408) 935-2701
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