San Jose--April 23, 1998--Ultratech Stepper, Inc. (San Jose) announced unaudited results for the three-month period ended March 31, 1998. Ultratech's net sales for the first quarter ended March 31, 1998 were $27.8 million versus $38.7 million for the first quarter of 1997. Net income was $361,000 or $0.02 per share (diluted) for the first quarter of 1998, compared to $4.5 million or $0.21 (diluted) for the same period of 1997. Last year's first quarter results included a one-time charge of approximately $3.6 million or $0.12 per share for in-process research and development associated with the acquisition of the assets of Lepton, Inc. by the company's Ultrabeam subsidiary.
As of March 31, 1998, Ultratech Stepper had $159 million in cash, cash equivalents, and short-term investments and a current ratio of 8.3:1. Working capital was $221 million and stockholders' equity was $12.71 per share based on total shares outstanding on March 31, 1998.
3050 Zanker Road
San Jose, CA 95134
Fax: (408) 325-6444
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