ICOS more than quadruples operating profits
Revenues however were down 34% on the third quarter, Fourth quarter income rose slightly to euro 3.3 million compared with the same period last year (euro 3.1 million) but was down on the previous quarter (euro 8.3 million).
Overall, 2004 was a good year for the company. Revenues almost doubled to euro 89.3 million from euro 44.8 million in 2003 while operating profits rose nearly five-fold to euro 27.5 million from euro 5.9 million.
The company generated euro 21.2 million in net cash from operating activities during the year, ending with euro 42.2 million in cash and cash equivalents. "During 2004 ICOS reaped the benefits of prior years’ investment in new product development while continuing our practice of making strategic investments to further strengthen our competitive position in the future," said ICOS president and chief executive officer Anton DeProft.
"We also acquired and integrated an assembly plant in China, acquired the wafer inspection activity from Siemens and opened an office in Korea. All of these investments place ICOS in a strong position to benefit from the numerous inspection opportunities that are emerging from the increasing variety and complexity of IC packages.”
