Trikon Technologies Announces Record Second Quarter 2000.Business Editors NEWPORT, Wales There are two well-known places named Newport in Wales:
Trikon Technologies, Inc. (Nasdaq: TRKN) today reported results for its second quarter ended June 30, 2000. Revenues for the quarter were $26.0 million, including license revenue of $350,000. Product revenues increased by 38 percent from $18.6 million for the first quarter of 2000 and by 137 percent from $10.8 million for the second quarter of 1999. Net income of $3.7 million (or $0.33 per share) was recorded for the second quarter of 2000, up 93 percent from net income of $1.9 million (or $0.15 per share) for the first quarter of 2000 and compares to net income for the second quarter 1999 of $1.9 million (or $0.15 per share). Net income for the second quarter of 2000 is stated after a non-recurring charge and exchange gains amounting to a net $800,000 charge to earnings (or $0.08 per share). The per-share amounts are stated on a fully diluted basis. Product gross margin for the second quarter of 2000 fell to 45 percent of revenues compared to the 47 percent of the prior quarter as a result of a strategic product sale at reduced gross margin. Net margin was 14.1 percent of revenues (17.2 percent excluding the non-recurring charge and exchange gains) in the second quarter of 2000, up from the net margin of 10.2 percent in the first quarter of 2000. Record product bookings in the second quarter generated a book-to-bill ratio Book-to-Bill Ratio The technology industry's demand-to-supply ratio for orders on a "firm's book" to number of orders filled. Notes: This ratio tells whether the company has more orders than it can deliver (if greater than 1), has the same amount of orders that it can greater than 1.7. Backlog further increased to new record levels. Nigel Wheeler, president and chief executive officer said: "Trikon is reporting record product revenues in the eighth quarter of sequentially increasing sales and is experiencing record order levels driven by both capacity expansion and new technology buys. Trikon is experiencing improved business in all technologies and geographic areas. During the quarter, Trikon shipped everything from PVD PVD abbr. peripheral vascular disease PVD Peripheral vascular disease, see there tools to a top-10 DRAM manufacturer to an advanced etching tool for an opto application. Geographically, Europe remained the largest market with 55 percent of revenues, with North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. sales at 24 percent and Asian sales increasing to 21 percent. Technologically, PVD sales still made up the majority of revenues with 59 percent, plasma etch To create a design in a material by digging out the material. The circuit designs on printed circuit boards and chips are etched by acid. See chip and printed circuit board. sales with 21 percent and CVD CVD Cardiovascular disease, see there with 20 percent." Mr. Wheeler concluded, "We continue to see strong interest in our low-k products, Low-K Flowfill(TM) and Omega(R)M0RI(TM) helicon Helicon (hĕl`ĭkŏn), Gr. Elikón, mountain group, c.20 mi (30 km) long, central Greece, in Boeotia; it rises to 5,736 ft (1,748 m). Helicon formed part of the border between ancient Boeotia and Phocis. plasma etcher For the formation of integrated circuits it is necessary to structure various layers. This can be done by a Plasma etcher. Plasma etching of dielectrics, semiconductors and metals is state of the art today. , and we are working with customers on copper damascene integration as well as aluminium gap fill with these products. At Semicon West we introduced a new ionised Adj. 1. ionised - converted totally or partly into ions ionized PVD module for barrier deposition with what we believe to be unique features and benefits over existing ionised PVD solutions and at considerably lower cost than alternative CVD techniques. Trikon's 300mm developments are also well positioned to meet customer's timescales with advanced tools in build. These are of comparable size to our existing 200mm designs with the capability of processing both 200mm and 300mm wafers faster and at a lower cost of ownership than our existing 200mm designs." There is a financial community conference call at 10:30 am eastern daylight time today Wednesday, August 9, 2000 with a play-back service available immediately afterwards for 7 days. To access the replay from within the US call: (800) 625 5288, to access from outside the US call: +1 (303) 804 1855. The access code is 775302. About Trikon Technologies Trikon www.trikon.com is positioned at two technology frontiers in the equipment industry based on solid production experience earned over 30 years. Trikon offers enabling production equipment for the manufacture of Gigahertz One billion cycles per second. See GHz. (unit) GigaHertz - (GHz) Billions of cycles per second. The unit of frequency used to measure the clock rate of modern digital logic, including microprocessors. silicon and broadband wireless See wireless broadband. and optoelectronics communications devices. Trikon's patented, `patent applied for' and proprietary technologies are delivered on equipment platforms used worldwide for volume production. Trikon operates and manufacturers at a world class 115,000sq.ft. facility featuring ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9000 (quality) and ISO1401 (environmental) registration. Trikon has patents and patents pending on Flowfill(R) and Low K Flowfill(TM) and related processes and continues to develop low-k chemistries and processes for advanced applications. Trikon provides a broad line of advanced manufacturing systems used for three of the major processing steps in the manufacture of a semiconductor device: chemical vapor deposition Vapor deposition Production of a film of material often on a heated surface and in a vacuum. Vapor deposition technology is used in a large variety of applications. (CVD), physical vapor deposition  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. (PVD) and plasma etch. Products include: Low K Flowfill(TM) for advanced low-k insulator insulator Substance that blocks or retards the flow of electric current or heat. An insulator is a poor conductor because it has a high resistance to such flow. Electrical insulators are commonly used to hold conductors in place, separating them from one another and from deposition, Sigma(R) fxP for advanced metal deposition including barrier layers and M0RI(TM) high-density plasma etchers. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement Under the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995: This news release contains certain 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. , including, but not limited to, statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the continued strength in demand for semiconductor production equipment and the status of Trikon's products and their acceptance in the marketplace. These forward-looking statements are subject to various risks and uncertainties that could cause results to differ materially, including, but not limited to, (1) that the semiconductor industry will experience conditions, such as changes in demand for various types of semiconductors, that will affect the demand for semiconductor production equipment and Trikon's products, and (2) that Trikon will not adequately respond to technological developments impacting the semiconductor industry. These factors are not intended to represent a complete list of all risks and uncertainties inherent in the Company's business, and should be read in conjunction with the more detailed cautionary statements included in the company's SEC reports, including, without limitation, its 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. , quarterly reports on Form 10-Q Form 10-Q See 10-Q. and current reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. . - Tables Follow -
Trikon Technologies, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands)
Three Months Ended Six Months Ended
June 30, June 30, June 30, June 30,
2000 1999 2000 1999
Revenues:
Product sales $ 25,651 $ 10,813 $ 44,293 $ 19,529
License revenues 350 2,144 350 2,144
26,001 12,957 44,643 21,673
Costs and
expenses:
Cost of
goods sold 14,113 6,625 23,931 12,398
Research and
development 2,316 1,597 4,016 3,194
Selling,
general and 5,802 2,767 10,743 6,630
administrative
22,231 10,989 38,690 22,222
Income
(Loss) from
operations 3,770 1,968 5,953 (549)
Interest
(expense), net (52) (48) (107) (114)
Income (Loss)
before income
tax provision 3,718 1,920 5,846 (663)
Income tax
provision 48 38 277 84
Net income
(loss) $ 3,670 $ 1,882 $ 5,569 $ (747)
Net
income (loss)
applicable $ 3,398 $ 1,262 $ 4,743 $ (1,967)
to common
shares
Earnings
(loss) per
common share
data:
Basic 0.35 0.15 0.52 (0.24)
Diluted 0.33 0.15 0.49 (0.24)
Average
common shares
used in the
calculation:
Basic 9,741 8,253 9,203 8,253
Diluted 10,327 8,405 9,779 8,253
Trikon Technologies, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
June 30, December 31,
2000 1999
(unaudited)
Assets
Current assets:
Cash and cash equivalents $ 4,880 $ 3,927
Accounts receivable, net of reserves 24,924 15,471
Inventories, net of reserves 25,038 19,256
Other current assets 2,927 2,129
Total current assets 57,769 40,783
Property, equipment and
leasehold improvements, net 17,400 15,217
Demonstration systems, net
of accumulated depreciation 1,236 860
Other assets 283 418
Total assets $76,688 $57,278
Liabilities and shareholders' equity
Total current liabilities 29,578 17,412
Convertible subordinated notes 1,505 4,147
Long-term debt, less current portion 3,775 --
Other non-current liabilities 3,871 4,115
Total shareholders equity 37,959 31,604
Total liabilities and shareholders' equity $76,688 $57,278
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