Tegal and Trikon report financial results
For the year ended March 31, 2002, net loss was $8.7 million, or $0.67 per share, which includes a one-time charge of approximately $600,000 related to company-wide staff reductions recorded in the second fiscal quarter of 2002. For fiscal 2001, net income was $699,000, or $0.05 per diluted share. Results in fiscal 2001 include net licensing fees of $8.2 million, which were reported as "other income."
"Similar to most companies in our industry, a sharp curtailment in capital spending and an increase in order push outs in fiscal 2002 negatively impacted our business," said Michael Parodi, Tegal’s chairman and CEO. "As we move into 2003, we will maintain our cost cutting initiatives, but will continue spending on strategic development programs to address the ongoing transition by the semiconductor and related industries to new, difficult-to-etch materials. These new materials, such as high-k dielectrics, noble metals, and III-V materials, are especially needed in FeRAM, MRAM, wireless telecom and datacom applications."Trikon sees order optimismTrikon Technologies reported $8.0 million in revenue for the first quarter of 2002, compared to $37.6 million for the same period last year. The company recorded an operating loss of $4.9 million compared to operating income of $9.0 million during the year-ago period. Net loss was $3.8 million compared to a net income of $6.7 million one year ago. In the final quarter of 2001, Trikon recorded revenue of $12.0 million and a net loss of $0.2 million, or $0.02 per share.
"Order levels in the quarter continued to be affected by the cyclical downturn," said Trikon’s president and CEO, Nigel Wheeler, who added that some of Trikon’s customers have recently begun to indicate the approach of capacity constraints at some of their facilities. "Order activity is increasing, and while we cannot be sure that this will be sustained, we are cautiously optimistic about the second half of 2002 and into 2003."
