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Trikon Technologies Announces Record Results And Shipments For First Fiscal Quarter 2001

Source: Trikon Technologies

NEWPORT, Wales, UK. Trikon Technologies, Inc. (Nasdaq: TRKN), a technology leader in semiconductor processing equipment, today reported results for its first fiscal quarter ended March 31, 2001.

Revenues for the quarter were a record $37.6 million, an increase of 109 per cent on $18.0 million for the first quarter of 2000 and an increase of 10.5 per cent on $34.1 million for the fourth quarter of 2000.

Operating income for the quarter was $9.0 million, an increase of 378 per cent on $1.9 million for the first quarter of 2000 and an increase of 8.6 per cent on $8.3 million in the prior quarter and is a record quarterly operating income from product sales.

Net income applicable to common shares for the quarter was $6.7 million or $0.56 per share including a tax charge of $2.1 million or $0.18 per share. This is an increase of 323 per cent over net income for the first quarter 2000 (before cumulative effect of SEC Staff Accounting Bulletin 101) of $1.6 million (or $0.10 per share). Net income applicable to common shares of $7.7 million or $0.65 per share in the prior quarter was substantially untaxed as a result of carry forward of net operating losses. All per-share amounts are stated on a fully diluted basis.

Shipments for the quarter were a record $42.6 million, an increase of 129 per cent on $18.6 million for the first quarter of 2000 and an increase of 17 per cent on the $36.4 million for the fourth quarter of 2000. Deferred revenue as a result of the application of SEC Staff Accounting Bulletin 101 was $13.4 million at the end of the first quarter compared to $9.3 million at 31 December 2000.

The financial statements are presented in accordance with the Securities and Exchange Commission Staff Accounting Bulletin 101 (SAB 101), which the company adopted in the fourth quarter of 2000. In comparing to the prior year the first quarter has been restated to be compliant with SAB 101.

"In February 2001 when we reported on our fourth quarter and the year 2000 I commented that despite the obvious uncertainty in the general economy and the reduction in visibility going forward, the stable backlog of orders from a strong 2000 would provide a degree of stability to our revenues in the first half of 2001," said Nigel Wheeler, president and chief executive officer. "The results we are reporting today bear out these comments. Sales, shipments and income all remain strong and accurately reflect the strong operations, products and relationships we have built up carefully over the last few years."

"Concerns about the economy however remain, resulting in a rapid slowdown in capital equipment ordering activity. We are therefore carefully controlling our operating costs and expect to continue to generate cash. We do not plan to make use of our borrowings to fund operations."

"Our customer relationships continue to be excellent," continued Mr. Wheeler. "I am extremely pleased to report that Infineon Technologies awarded Trikon its front end "Supplier of the Year award 2000" at its recent Supplier Day. This award is for "excellent performance in quality, technology, costs, logistics and management commitment" and is based on supplier evaluations at Infineon s worldwide sites."

Investor Conference Call and Webcast

There will be a conference call at 10:30 am New York time today, hosted by Nigel Wheeler, President & CEO. A live and subsequently recorded audio webcast of the call will be available at www.trikon.com for 7 days. Trikon s new technology products include Sigma® fxPÔ PVD. A metalization system offering high throughput and reliability with advanced process modules for advanced barrier deposition processes including ionized PVD, high uniformity PVD and metal plug (Forcefill®). Planar fxPÔ Low ? Flowfill™. An advanced low-k dielectric deposition system capable of both gap-fill and planarization, enabling the low-k advantage of increased device speed to be brought to existing aluminum metalized devices such as logic and DRAM, as well as copper. Omega® fxP™. A multi-chambered cluster plasma etcher, based on Trikon s field-proven fxP cluster platform, the Omega fxP combines standard Omega etch plasma sources, such as PERIE, ICP, and M0RI with a Brooks MX 800 wafer handler and Trikon s Windows NT based software.

Omega 201+. Within a unique single chamber format, the Omega 201+ offers leading plasma source technologies, including Plasma Enhanced Reactive Ion Etch (PERIE), Inductively Coupled Plasma (ICP) and M0RI™, and combines high performance etching with low footprint and costs.

About Trikon Technologies

Trikon Technologies, Inc. offers a broad range of semiconductor processing equipment for silicon, compound device and opto-electronic production. Trikon has patents and patents pending on processes and equipment and continues to develop new low-k equipment and processes for advanced applications. Trikon s website can be visited at www.trikon.com.

Trikon Technologies Contacts

"Safe Harbor" Statement Under the Private Securities Litigation Act of 1995: This news release contains certain forward-looking statements that include, without limitation, future order and sales levels, cash flow projections and anticipated use of proceeds from the Company s credit facilities. These forward-looking statements are subject to various risks and uncertainties that could cause results to differ materially, including, but not limited to, that changes in the Company s financial condition will cause the Company to violate its covenants under the credit facilities and make additional credit unavailable. 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, quarterly reports on Form 10-Q and current reports on Form 8-K.

Contact: Carl Brancher, Trikon Technologies +44 1633 414111 carl.brancher@trikon.com or US Investor Relations contact: Jim O Donnell, Golin/Harris International +1 212 309 0649 jodonnell@golinharris.com or US Media Relations contact: Lon Margulies, G.S. Schwartz & Co. Inc. +1 212 725 4500 lmargulies@schwartz.com or Press Relations contact: Karen Wright, Trikon Technologies +44 1633 474569 karen.wright@trikon.com

 

Karen Wright, Trikon Technologies
+44 1633 474569 karen.wright@trikon.com
 
E-mail: karen.wright@trikon.com
Web site: http://www.trikon.com
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