ADE Corporation Announces Revised Expectations for First-Quarter Fiscal 2002 Financial results.Business Editors WESTWOOD, Mass.--(BUSINESS WIRE)--Aug. 9, 2001 ADE Corporation (Nasdaq: ADEX ADEX Athens Derivatives Exchange (Athens, Greece) ADEX Air Defense Exercise ADEX Advertisement Expenditure ADEX Asociaciã³n de Exportadores (Peru) ) today announced preliminary financial results for its fiscal first quarter ending July 31, 2001. The Company expects revenues for the first quarter to be approximately $26 million, which is at the lower end of ADE's previous guidance. The Company expects to report a net loss for the first quarter in the range of $0.09 to $0.10 per share, which is below its previous guidance. ADE attributes the profit shortfall to weaker-than-anticipated margins. Stated ADE Chief Financial Officer Brian James Not to be confused with Brion James. Brian James can be
ADE President and Chief Executive Officer Robert Abbe Robert Abbe (1851 - 1928), was an American surgeon and pioneer radiologist in New York City. He was born April 13, 1851, at New York City and educated at the College of the City of New York (S.B., 1871) and Columbia University (M.D., 1874). stated, "As the Company announced in July, ADE has reduced its workforce to streamline the organization. The Company continues to investigate additional opportunities to increase operational efficiency and better align its cost structure with the realities of the current economic environment and with the inherent volatility of ADE's core markets. Consequently, the Company anticipates that margins associated with our manufacturing, training and field support for 300mm systems will continue to improve. In the face of the industry's steepest decline in demand for 200mm wafers, wafer makers acceptance of ADE's advanced-technology 300mm solutions remains a bright spot. However, tight customer capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. budgets and short planning horizons Planning horizon The length of time a model or investor or plan projects into the future. preclude long term visibility for the industry. ADE remains confident that it will capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the eventual rebound in semiconductor industry wafer demand and is committed to developing, delivering and supporting the world-class wafer metrology and inspection solutions that are essential to our customers' success." ADE will report its fiscal first-quarter financial results after market on August 29, 2001, followed by its conference call on the morning of August 30, 2001. Guidance for the second quarter of fiscal 2002 will be provided at that time. This news release contains certain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Those statements that make reference to the Company's expectations, predictions and anticipations should be considered forward-looking statements. These statements include, but are not limited to, trends relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the semiconductor market, the ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale of 300mm capacity and related profit margins, the success of ADE's product development efforts, international economic conditions, and financial projections for the first quarter of fiscal 2002. These statements involve risks and uncertainties including those associated with the strength of the semiconductor and hard disk markets, wafer pricing and wafer demand, the results of its product development efforts, the success of ADE's product offerings to meet customer needs within the timeframes required by customers in these markets, further increases in backlog, our visibility, and the Company's predictions of future financial outcomes. Further information on potential factors that could affect ADE Corporation's business is described in the Company's reports on file with the Securities and Exchange Commission, including its Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended April 30, 2001. About ADE Corporation ADE Corporation is a leading supplier of metrology and inspection systems for the silicon wafer and data storage industries. The Company's systems analyze and report product quality at critical manufacturing process steps and provide quality certification data that is relied upon by semiconductor and data storage manufacturers. The Company's systems also are used in the fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. of integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. . To learn more about ADE, visit the Company's Web site at www.ade.com. |
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