Asyst Technologies announces record first quarter results for fiscal 1996.MILPITAS Milpitas (mĭl'pē`təs), city (1990 pop. 50,686), Santa Clara co., W Calif., a suburb of San Jose, southeast of San Francisco; inc. 1954. Manufactures include computers and paint. , Calif.--(BUSINESS WIRE)--Aug. 10, 1995--Asyst Technologies, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ASYT), the leading supplier of minienvironment and automation systems to the worldwide semiconductor industry, announced today first quarter results for fiscal year 1996, ended June June: see month. 30, 1995. The company reported an increase of net income to $2.1 million (or $0.40 per share on 5.3 million shares) on record revenues of $19.3 million, versus net income of $85,000 (or $0.02 per share on 3.8 million shares) on revenues of $4.4 million for the corresponding quarter of the prior year. Compared to the fourth quarter of fiscal year 1995, revenues increased 20 percent from $16.1 million and net income increased over 100 percent from $958,000. Commenting on the quarter's results, Rich Yonker Yon´ker n. 1. A young fellow; a younker. , senior vice president and chief financial officer, noted, "We continue to be encouraged by our ability to 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 to meet our customers' needs. In this quarter, we're we're Contraction of we are. we're we are also encouraged by our return to greater than 50 percent gross margins, which point to improved operating efficiencies." During the quarter, Asyst unveiled its new 300mm wafer (1) A small, thin continuous-loop magnetic tape cartridge that has been used from time to time for data storage and specialized applications. (2) The base unit of chip making. It is a slice taken from a salami-like silicon crystal ingot up to 12" (300mm) in diameter. handling technology, including the company's plan to openly license its 300mm cassette A removable magnetic tape storage module that contains supply and takeup reels (hubs) in the same housing. Most audio tapes and videotapes use cassettes as well as backup tape technologies such as DAT, 8mm and Magstar MP (see below). . As the first handling company to demonstrate 300mm technology, Asyst garnered positive industry response. This announcement does not financially impact the company in the short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. , but is believed to be strong positioning for the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. . Among the companies to publicly embrace the technology is the industry's leading wafer cassette manufacturer, Fluoroware Inc. of Chaska, Minn., who announced its intentions to license and mass produce the 300mm cassette. Dr. Mihir Parikh, chief executive officer and chairman, said that the company is optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about the future. "We've made significant progress in our operations and manufacturing programs, so that we're well prepared to meet both current and anticipated future demands," Parikh said. "The current shortage of chip capacity that is spurring capital equipment spending among semiconductor device makers is good news for Asyst. As a supplier of integrated automation systems, Asyst is in a good position to help chipmakers who are implementing automation as a practical way to increase their production yields." About Asyst Asyst Technologies, Inc. is the leading provider of automation systems that help semiconductor manufacturers reduce their integrated circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for production costs. The company's Asyst-SMIF(TM) System combines state-of-the-art minienvironments with advanced robotics robotics, science and technology of general purpose, programmable machine systems. Contrary to the popular fiction image of robots as ambulatory machines of human appearance capable of performing almost any task, most robotic systems are anchored to fixed positions to create ultraclean processing environments that are both comprehensive and flexible. The SMART-Traveler(TM) System (STS (Synchronous Transport Signal) The electrical equivalent of the SONET optical signal. In SDH, the European counterpart of SONET, STS is known as STM (Synchronous Transport Module). ) works in tandem Adv. 1. in tandem - one behind the other; "ride tandem on a bicycle built for two"; "riding horses down the path in tandem" tandem with SMIF SMIF Standard Mechanical Interface SMIF Stream-based Model Interchange Format SMIF Shared Materials Instrumentation Facility (Duke University) SMIF Stanford Management Internship Fund SMIF SMAD4-Interacting Transcription Factor to eliminate misprocessing. Both Asyst-SMIF and its companion STS products are integral to the seamless factory automation of the future. Asyst's subsidiary, Asyst Automation, Inc., focuses on material handling control software and inter-bay/intra-bay automation. Founded in 1984, Asyst Technologies, Inc. is headquartered in Milpitas, Calif., with facilities in Europe and the Far East. Asyst Automation is located near Boston, Mass. The company's common stock trades on the NASDAQ stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol ASYT. About SMIF SMIF stands for Standard Mechanical InterFace, the material handling approach that enables wafer transfer to and from the sealed SMIF environments without exposure to ambient Surrounding. For example, ambient temperature and humidity are atmospheric conditions that exist at the moment. See ambient lighting. conditions. SEMI standards exist for 150mm and 200mm wafer sizes and are now being defined for 300mm. -0-
Asyst Technologies, Inc.
Condensed Consolidated Statements of Income
(Unaudited; in thousands, except per share data)
Three Months Ended
June 30,
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1995 1994
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Net sales $19,331 $ 4,412
Cost of sales 9,081 1,837
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Gross margin 10,250 2,575
Operating expenses:
Research and development 1,716 772
Selling, general and administrative 5,431 1,765
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Total operating expenses 7,147 2,537
Operating income 3,103 38
Other income, net 416 92
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Income before income taxes 3,519 130
Provision for income taxes 1,409 45
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Net income $ 2,110 $ 85
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Net income per share $ 0.40 $ 0.02
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Weighted average common and
equivalent shares 5,267 3,793
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Asyst Technologies, Inc.
Condensed Consolidated Balance Sheets
(In thousands)
June 30, March 31,
1995 1995
---- ----
(Unaudited)
ASSETS
Current assets:
Cash & short-term investments $32,330 $38,947
Accounts receivable, net 20,038 16,630
Inventories 20,735 10,756
Prepaid expenses and other current
assets 3,708 2,499
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Total current assets 76,811 68,832
Property and equipment, net 5,844 3,053
Licenses and patents, net 1,063 1,287
Other assets 469 362
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$84,187 $73,534
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LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 8,470 $ 9,315
Accrued liabilities 3,761 2,680
Customer deposits 10,125 3,535
Income taxes payable 2,125 778
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Total current liabilities 24,481 16,308
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Shareholders' equity:
Common stock 61,520 61,150
(Accumulated deficit) 1,814 (3,924)
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Total shareholders' equity 59,706 57,226
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$84,187 $73,534
CONTACT: Asyst Technologies Inc. Richard C. Yonker, 408/263-5111; Fax: 408/263-1668 |
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