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vom 03.11 .2005 EGAL APPOINTS MURALI NARASIMHAN AS VICE PRESIDENT - MARKETING 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 the appointment of Murali K. Narasimhan as Vice President – Marketing. Prior to joining Tegal, Murali Narasimhan was a Senior Director of Strategic Marketing in the Films Metrology Division of KLA-Tencor, a position that he held since 2001, and a Senior Director of Segment Marketing in KLA’s Wafer Inspection Division for a year prior to that posting. From 1994 through 2000, Mr. Narasimhan held increasingly responsible positions in product support, process engineering and global product management within various deposition product divisions of Applied Materials including PVD, Integrated Liner Barrier and Cu Barrier-seed and Electroplating. He has also worked previously as a process engineer with SONY-Materials Research Corporation and Plasma-Therm, Inc. Mr. Narasimhan holds M.S. degrees in Engineering Management, Materials Science and Engineering, as well as a B.S. in Metallurgical Engineering. He is an author of numerous publications in the area of Integrated Circuit processing and holds several patents. “We are very pleased to have been able to attract a person with the exceptional talent, experience and drive that Murali has,” said Thomas Mika, President and CEO of Tegal. “Both KLA and Applied are well-known to be the most disciplined marketing companies in our industry. This is a key appointment for Tegal in an area that is of critical importance for our future direction. We are adding depth and strength to the senior management team at Tegal as our opportunities for significant sales growth continue to unfold.” vom 10.11.2005 TEGAL CORPORATION REPORTS SECOND QUARTER FISCAL 2006 FINANCIAL RESULTS 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 Second Quarter Fiscal Year 2006, which ended September 30, 2005. Senior management will conduct an investor conference call to discuss these results and the company’s financial outlook in more detail today at 2pm Pacific Time, Thursday, November 10, 2005. More information about the conference call is provided below. Second Quarter Highlights • Revenues increased substantially during the second quarter of fiscal 2006 to $6.4 million, an increase of 28% from $5.0 million reported in the second quarter of fiscal 2005, and an increase of 110% from the $3.1 million recorded for the first quarter of fiscal 2006. • Tegal recorded a net loss for the second quarter of $2.7 million or ($0.04) per share, compared to a net loss of $2.5 million or ($0.05) per share for the same quarter one year ago, and a net loss of $2.5 million or ($0.05) per share in the first quarter of Fiscal 2006. • On a non-GAAP, proforma basis, Tegal was at cash break-even at an operating level, backing out from the operating loss of $2.9 million an equal amount of both non-recurring and non-cash charges for the quarter. • As a result of a positive stockholder vote held in September, the Company completed the second step of its private equity financing, raising a total of $18.2 million (net of fees and expenses). • Quarterly shipments included two re-certified advanced etch systems for the production of de-coupling capacitors for cell phones and wireless devices, a re-certified Endeavor PVD system for backside metallization and a number of both new and recertified 9xx plasma etch systems for various applications. • Subsequent to the end of the quarter, Tegal won an order to provide four new 6540 plasma etch systems to the Asia-Pacific production facility of a Tier 1 European manufacturer for the full-scale production of de-coupling capacitors for a new active-passive integrated device component for cell phones and wireless products. “We are making substantial progress on our plan to turn this company around by increasing sales in existing products and markets, by managing our resources better, and by investing more intelligently in a select number of growth opportunities for the future,” said Thomas Mika, President & Chief Executive Officer of Tegal Corporation. “With an increasing backlog, I believe that we can look forward to a more stable revenue outlook that allows us to preserve our cash while still making investments in our new products.” Financial Results Revenues for the second quarter of fiscal 2006 were $6.4 million, an increase of 28% from the $5.0 million reported for the second quarter of fiscal 2005, and an increase of 110% from the $3.1 million recorded for the first quarter of fiscal 2006. Tegal reported a net loss for the second quarter of $2.7 million or ($0.04) per share compared to a net loss of $2.5 million or ($0.05) per share for the same quarter one year ago. Sequentially, the Company’s net loss increased from the prior quarter loss of $2.5 million or ($0.05) per share. Gross profits for the second quarter of fiscal 2006 were 38% - the same as reported for the second quarter one year ago, but improved from the first quarter of fiscal 2006 of 22%. Operating expenses for the second quarter of fiscal 2006 were $5.4 million, an increase from the $4.4 million reported one year ago and the $3.0 million reported last quarter. This resulted in operating losses of $2.9 million during the current quarter. However, the operating expenses for the second quarter included non-recurring expenses included in G&A expense related to lease termination and the recently completed financing ($0.8 million), substantial non-cash expenses related to warrants and stock grants that vested during the quarter ($1.7 million), and normal non-cash depreciation and amortization expense ($0.4 million). On a non-GAAP, proforma basis, the Company’s operating loss of $41 thousand represents a substantial reduction compared to the same quarter last year as well as the first quarter of fiscal 2006. “We are reporting non-GAAP proforma results to show investors that we have made substantial progress toward achieving cash break-even at an operating level during this quarter - a stated goal for this fiscal year,” said Christine Hergenrother, Vice President and Chief Financial Officer of Tegal. “We would like to achieve break-even at lower revenue levels, but to do so may require some additional strategic one-time expenses.” Cash and equivalents at the end of the second quarter of fiscal 2006 were $18.2 million compared to $3.2 million in the first quarter. Accounts receivable increased by $2.6 million to $5.3 million, while inventories remained flat. Borrowings were negligible at $46 thousand, down from $83 thousand in the prior quarter. Accounts payable declined by $0.5 million to $3.1 million. Total shares outstanding as of November 10, 2005 are 83,951,613. Investor Conference Call Tegal Corporation will discuss these results and further details of its second quarter of fiscal 2006 during a conference call today, November 10, 2005, at 5:00 p.m. EST / 2:00 p.m. PST. The call is open to all interested investors. The call-in numbers are (866) 203-3206 or (617) 213-8848. For either dial-in number, investors should reference Tegal or reservation number: 10481480. A digital recording will be made available one hour after the completion of the conference call, and it will be accessible through midnight on Thursday, November 17, 2005. To access, investors should call (888) 286-8010 or (617) 801-6888 and enter passcode: 67110221. The conference call also will be available online via the Investor Section of the Company’s website at: www.tegal.com. An online replay of the teleconference, along with a copy of the Company’s earnings release, will also be available on the Company’s website. tomhead |
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| aus der Diskussion: | TEGAL mit 2 neuen Patenten |
| Autor (Datum des Eintrages): | tomhead (22.11.05 11:57:36) |
| Beitrag: | 38 von 39 (ID:18935943) |
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