News Article
Aviza Technology announces fiscal year 2007 fourth quarter and year-end financial results
Aviza Technology Incorporated, a supplier of advanced semiconductor capital equipment and process technologies for the global semiconductor industry and related markets, has reported results for the fourth quarter and year-end of fiscal year 2007.
The financial highlights are:-
Fiscal year 2007 net sales of US$231.4 million increased 43.9 over fiscal year 2006 net sales.
Fiscal year 2007 gross margin improved to 30.9% from fiscal 2006 gross margin of 27.5%.
Fiscal year 2007 income from operations of US$5.5 million increased over fiscal year 2006 loss from operations of US$8.7 million.
Fiscal year 2007 net income of US$383,000, or US$0.02 per share, increased over fiscal year 2006 net loss of US$14.7 million, or US$1.31 per share.
Gross margin for the fourth quarter of 2007 was 31.0%, a marginal decline from third quarter 2007 gross margin of 31.7%.
Shipments for the fourth quarter of fiscal 2007 were US$45.5 million.
Jerry Cutini, Aviza's president and chief executive officer, said, "During the year we increased the effectiveness of our outsourcing strategy, and added new customers, notably in the logic and flash markets. In addition, we made substantial inroads into the 3D-IC arena, as well as emerging markets for MEMS and power devices, which have enabled us to improve the balance of our business opportunities. Our product breadth is a competitive advantage for Aviza, and we believe that we are well positioned to capitalise on the next market upturn."
Cutini continued, "While our results for the fourth quarter were impacted by a challenging business environment resulting from the
continued decline of DRAM prices, we were able to conclude fiscal year 2007 with a number of achievements. By maintaining our focus on our strategic initiatives and diversification plan, we improved our financial metrics on a year-over-year basis. Not only were we profitable for fiscal 2007, but we held margins relatively steady over the course of the year."
The Company's guidance for the first quarter of fiscal 2008 is predicated on continued softness in the DRAM market. Aviza expects that net sales will be in the range of US$30 million to US$35 million, with an operating loss in the range of approximately
US$8.0 to US$9.0 million.
