GLOUCESTER, Mass. -- Varian Semiconductor Equipment Associates Inc. today announced results for the fourth quarter and the fiscal 1999, a year in which it was spun out from Varian Associates Inc. as an independent ion-implant equipment maker.
The results of the fiscal year, ended Oct. 1, reflect combined operations as the semiconductor equipment business of Varian Associates and the company's stand-alone results since it was spun off in April.
Fourth quarter revenues totaled $107.5 million, up 157% from $41.8 million in the previous year's same quarter. About $22 million was nonrecurring royalty income related to a licensing agreement with Tokyo Electron Ltd. Excluding that, revenue for the quarter rose 105% over last year's fourth quarter.
The quarter's net income of $16.1 million, or 50 cents per diluted share, compared with net loss of 49 cents per share in the same quarter a year. ago
For the full fiscal year, revenues fell 21% to $271.9 million, compared with $342.9 million in fiscal 1998. The net loss was $13.2 million, or 43 cents per share, compared with earnings of $11.4 million, or 37 cents per diluted share in the previous fiscal year.
Varian is trying to make it as a dedicated supplier of ion-implant equipment and nothing else (see Online Magazine story from March 15).
"Continued recognition by our customers and the industry of both our winning customer satisfaction strategies and our commitment to technologically advance ion implantation capabilities supports our expectations of strong growth in the coming year," said Richard A. Aurelio, Varian Semiconductor's president and CEO. "We continued to see a significant rise in demand for our ion implantation equipment during the quarter, and our results confirm industry forecasts that suggest continued improvement. Market trends, including interest in sub-0.18 micron, 300 millimeter and single-wafer advantages, are favorable for our new products."
Aurelio added that "the company is making satisfactory progress toward increasing its gross margins, despite temporary increases in the cost of expediting materials. We are also incurring additional expenses for hiring and training new employees to support business growth."
RSS
Digital
HDD roadmap:
The hard disk drive (HDD) industry finds its lifeblood in a technology roadmap. The areal density roadmap describes the number of magnetic bits per unit area on the disk platter--thereby defining the storage capacity.
10 CEOs out in 2009:
It's been a tough year for the global electronics industry and CEOs. We survey the dismissal of 10 industry CEOs during the first three quarters of 2009 and what's ahead for the rest of the year.
Top 10 IC vendors with cash:
The world's biggest IC companies by revenue rank not only among the best in their respective industry segments but are also more likely to have huge piles of cash that can be used to fund acquisitions, R&D and product development
10 companies in trouble (revisited):
What follows is an updated version of 10 companies in trouble. Some companies have been removed since the last version, others remain. Still others have been added to the mix.
MIPS to go after the cellphone?:
ARM dominates the global cell phone market, and many industry observers scoff at MIPS as a viable player in mobile phone designs. But MIPS disclosed that over the next one or two years' time, there will be MIPS-based handsets shipped.
Hot technologies to watch for in 2009:
Every technologist, marketer, industry analyst and reporter on a hunt for the next big thing is bracing for the 2009 Consumer Electronics Show scheduled less than a month away.
Notable women in microelectronics
EE Times has compiled an international list that celebrates women who are business and technology leaders in microelectronics.
EE Times updates Silicon 60
Seventeen companies have been added to the lastest version of our Silicon 60 list of emerging startups. Forty-three companies survived as emerging companies that are still worth watching.
RSS| 
Digital| 
Mobile
