Photon Control Reports Fourth Quarter and Full Year 2019 Financial Results - Seite 3

Business Outlook

“We are encouraged by the significant increase in our order backlog and believe it positions us well for 2020,” said Nigel Hunton, Chief Executive Officer. “We are experiencing an improved wafer fabrication equipment environment, reflecting continued strength in the foundry and logic markets and the beginning of a recovery in the memory market. As of today, we have recorded $14 million in revenues for Q1 2020, and we currently expect $1 million of additional shipments by quarter-end, provided no substantial disruptions to the global semiconductor supply chain. At this revenue level, we would expect Q1 2020 EBITDA¹ margin to be at least 30% of revenue. While it’s currently unknown as to how the COVID-19 virus will impact our business, we are closely monitoring the situation and remain committed to our growth strategy. Longer-term, the Company will maintain its investments in research and development and expand its sales and marketing footprint to new markets, positioning us for long-term growth in revenue, profitability and shareholder value.”

¹  See “Non-GAAP Performance Measures”

Conference Call

Photon Control will hold a conference call tomorrow (Thursday, March 19, 2020) at 11:00 a.m. Eastern time (8:00 a.m. Pacific time) to discuss these results. The call will be hosted by Nigel Hunton, Chief Executive Officer, and Daniel Lee, Chief Financial Officer, followed by a question and answer period.

Please call the applicable conference telephone number approximately 10 minutes prior to the commencement of the call. The conference call will be broadcasted simultaneously and be available for replay. Further information can be found at https://www.photoncontrol.com/investors/

Financial Statements and Management’s Discussion and Analysis

This news release should be read in conjunction with the Company’s consolidated financial statements and related notes for the year ended December 31, 2019, and management’s discussion and analysis for the three months and year ended December 31, 2019, copies of which can be found at www.sedar.com.

About Photon Control Inc.

Photon Control Inc. designs, manufactures and distributes a wide range of optical sensors and systems to measure temperature and position. These products are used by the world’s largest wafer fabrication equipment manufacturers and end users in the semiconductor and solid-state industries. Photon Control Inc.’s high quality products provide industry-leading accuracy, speed and quality in the most extreme conditions and are backed by a team of experts providing a variety of on-site and remote services including custom design, installation, training and support. The Company is headquartered in an ISO 9001:2015 manufacturing facility in Vancouver, BC, has a sales and engineering office in San Jose, California, and a sales distribution network in Asia. Photon Control Inc. is listed on TSX, trading under the symbol ‘’PHO.” Additional information about the company can be found at https://www.photoncontrol.com/investors/