Therma-Wave, Inc. Reaffirms Fourth Quarter and Year-End Financial Guidance; Company Will Take Cost Cutting Measures to Address Slowdown in Industry.Business Editors/High-Tech WritersFREMONT, Calif.--(BUSINESS WIRE)--March 19, 2001 Therma-Wave, Inc., (Nasdaq: TWAV) announced today that it continues to be comfortable with previous guidance for the company's pro-forma results, before anticipated one-time charges and before adjusting to SAB SAB Spontaneous abortion. See Abortion. 101 reporting methodology, for the fourth fiscal quarter and year ending March 31, 2001. Additionally, the Company will be taking strategic measures to better align align (  līn),v to move the teeth into their proper positions to conform to the line of occlusion. costs with its business outlook, due to a significant slowdown in bookings affecting revenues and earnings. These actions include: reducing the number of temporary employees, deferring annual salary increases for six months, initiating limited but mandatory time off for all employees and cutting discretionary spending and overtime. "Our principal goal during this downturn is to maintain the key new product programs for next-generation thin dielectric dielectric (dī'ĭlĕk`trĭk), material that does not conduct electricity readily, i.e., an insulator (see insulation). A good dielectric should also have other properties: It must resist breakdown under high voltages; it should not and metal film measurement, CD scatterometry and integrated metrology metrology Science of measurement. Measuring a quantity means establishing its ratio to another fixed quantity of the same kind, known as the unit of that kind of quantity. that are so important for the future," said Martin M. Schwartz, president and chief executive officer of Therma-Wave, Inc. "By taking these actions now, we believe we can continue these key programs while mitigating the impact of the slowdown on our near term financial performance," concluded Schwartz. About Therma-Wave Since 1982, Therma-Wave, Inc. has been revolutionizing process control metrology systems through innovative, proprietary products and technologies. The company is a worldwide leader in the development, manufacture, marketing and service of process control metrology systems used in the manufacture of semiconductors. Therma-Wave currently offers leading-edge products to the semiconductor manufacturing industry for the measurement of transparent, semi-transparent, and opaque thin films, for the monitoring of ion implantation Ion implantation A process that utilizes accelerated ions to penetrate a solid surface. The implanted ions can be used to modify the surface composition, structure, or property of the solid material. , and for the integration of metrology into semiconductor processing systems. For further information about Therma-Wave, Inc., access our Web site at: www.thermawave.com. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as that term is defined in the Private Securities Reform Act of 1995 which 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. Such statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc our business strength in revenue, orders, continued increasing value for shareholders and customers, and trends in our financial performance are based on current expectations. Such statements are subject to risks, uncertainties, and changes in condition, particularly those related to industry performance, and other risks, some of which are detailed in documents filed with the Securities and Exchange Commission, including specifically Exhibit 99.1 to the Company's annual report on 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 year ended March 31, 2000 and subsequent Form 10-Qs Form 10-Q See 10-Q. . The Company undertakes no obligation to update the information in this press release. |
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