Ultratech Turns To Profit In Q3 With Higher Net Sales - Quick Facts

(RTTNews) - Ultratech, Inc. (UTEK), a supplier of lithography, laser-processing and inspection systems for semiconductor devices and high-brightness LEDs, reported Thursday that its third-quarter net income was $5.5 million or $0.20 per share, compared to prior year's net loss of $6.1 million, or $0.22 per share.

Ultratech's adjusted net income was $8.0 million or $0.29 per share, compared to net loss of $1.3 million, or $0.05 per share last year.

On average, five analysts polled by Thomson Reuters expected earnings of $0.29 per share. Analysts' estimates typically exclude special items.

For the third quarter, net sales increased to $48.6 million from $33.1 million a year ago. Analysts expected sales of $51.42 million.

Third quarter revenues increased by 47 percent as compared with a year ago, driven by higher sales of inspection, laser spike annealing, and advanced packaging product lines, the company noted.

Arthur Zafiropoulo, Chairman and Chief Executive Officer, said, "In the third quarter of 2016, we saw continued strength in sales of our inspection products, which grew by 70 percent in the quarter. Looking ahead, we expect increased sales of our LSA tools as our foundry customers continue to expect an extended 28nm production node."