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ADE Sells Newton, MA Facility for $4.4 Million in Net Cash; Sale Bolsters Company's Strong Cash Position and Reduces Fixed Costs.


WESTWOOD, Mass. -- ADE (Application Development Environment) An IBM approach for developing applications that will run in all SAA environments. The development software is client/server based, and the main functions reside in the host. Corporation (Nasdaq: ADEX ADEX - Advertisement Expenditure
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) today announced that it has completed the sale of its Newton, Massachusetts facility. The sales transaction generated $4.4 million in cash, net of selling expenses. ADE's Newton operations were relocated to the Company's Westwood headquarters facility during fiscal year 2003, which ended April 30, 2003.

"This transaction completes the consolidation of ADE's worldwide engineering and manufacturing operations into two centers of excellence located in Westwood, Massachusetts and Tucson, Arizona," stated ADE Chief Financial Officer Brian James. "Accomplishing this objective further bolsters ADE's already strong cash position and reduces fixed costs."

About ADE Corporation

ADE Corporation is a leading supplier of production process control and quality certification systems for the semiconductor device, silicon wafer, magnetic data storage, and optics manufacturing industries. The Company's systems measure and inspect a variety of bare silicon and patterned wafers for dimensional parameters, surface defects, particles, and process non-uniformities, analyzing and reporting product quality at critical manufacturing process steps for yield enhancement. To learn more about ADE, visit the Company's Website at http://www.ade.com.

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, assumptions, plans and anticipations should be considered forward-looking statements. These statements include, but are not limited to, those associated with the Company's ability to open new markets and applications. These statements involve risks and uncertainties including those associated with the strength of the semiconductor, data storage and device 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; the Company's growth in backlog and enhanced operating leverage; and the Company's ability to generate strong gross margins. ADE disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. 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 for the fiscal year ended April 30, 2004.
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Publication:Business Wire
Geographic Code:1USA
Date:Dec 6, 2004
Words:378
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