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Tegal Corporation Reports First Quarter 2005 Financial Results [DMJLSKN] Business Editors PETALUMA, Calif.--(BUSINESS WIRE)--Aug. 12, 2004--Tegal Corporation (Nasdaq:TGAL), a leading designer and manufacturer of plasma etch and deposition systems used in the production of integrated circuits and nanotechnology devices, today announced financial results for the First Quarter Fiscal Year 2005, which ended June 30, 2004. First Quarter Highlights -- Revenues for the first quarter of fiscal 2005 were $3.4 million, a decrease of 11% from $3.9 million reported in the first quarter of fiscal 2004, and a decrease of 44% from the fourth quarter of fiscal 2004. -- Net losses for the first quarter were $6.3 million or ($0.15) per share compared to a net loss of $1.3 million or ($0.08) per share for the same quarter one year ago. Non-recurring, non-cash expenses included in the quarter totaled $3.7 million. On a pro-forma basis, net losses were $2.7 million or ($0.06) per share compared to $1.3 million or ($0.08) per share in the same quarter last year. -- The Company incurred an operating loss of $4.2 million, which included a $1.7 million non-recurring, non-cash charge for IPR&D related to its purchase of First Derivative Systems, Inc. Excluding the IPR&D charge, operating expenses for the first quarter were approximately $1.0 million higher than the same quarter last year, and $0.8 million higher than the fourth quarter of fiscal 2004. -- Cash stood at $4.7 million at the end of the first quarter of fiscal 2005, compared to $7 million at the end of the fourth quarter of fiscal 2004. However, the Company paid off $2.3 million in notes payable and bank lines of credit during the quarter. -- The Book-to-Bill ratio for the first quarter of fiscal 2005 was 2.5 to 1; systems backlog at the end of the quarter stood at $2.7 million, and is approximately $3.4 million currently. This compares with the fourth quarter of fiscal 2004, when the Book-to-Bill ratio was less than 1 to 1 and systems backlog stood at just under $1 million at the end of the quarter. -- The Company secured orders for several 9xx plasma etch systems, primarily for use by nanotechnology device makers and an order for an Endeavor(TM) PVD cluster tool from a leading consumer electronics company for a new type of MEMS device for use in high frequency wireless communications. -- The Company closed its acquisition of First Derivative Systems, Inc., extending its unique PVD technology into 300mm application areas. -- Tegal realigned along product groups and recruited a new Chief Technology Officer, a new Vice President of Sales and Field Operations, and Country Managers for Europe and Asia-Pacific. -- Subsequent to the end of the quarter, the Company sold 2,372,689 shares of its common stock to Kingsbridge Capital, Ltd. for gross proceeds of $2.6 million. |
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| aus der Diskussion: | TEGAL mit 2 neuen Patenten |
| Autor (Datum des Eintrages): | awo007 (12.08.04 22:18:32) |
| Beitrag: | 7 von 39 (ID:14029512) |
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