San Jose, Calif. – Announcing unaudited results, Ultratech, a designer, manufacturer, and marketer of photolithography and laser processing equipment, reported first quarter net sales of $47.4 million as compared to $27.5 million during the first quarter of fiscal 2010. Ultratech’s net income for the first quarter of 2011 was $7.9 million, or $0.30 per share (diluted), as compared to net income of $1.9 million, or $0.08 per share (diluted) for the same quarter last year.
"We are pleased to announce another strong quarter of financial results that exceeded our expectations. High levels of demand in each of our served markets, coupled with solid execution in our global manufacturing operations, drove increased revenue and earnings during the quarter," said Arthur W. Zafiropoulo, chairman and CEO. "Our strong financial performance, as a result of Ultratech’s technology and market leadership, demonstrates the value of our technology in helping our customers execute on their leading edge technology roadmaps.”
As of April 2, 2011, Ultratech had $189 million in cash, cash equivalents and short-term investments. Working capital was $231 million and stockholders’ equity was $9.68 per share based on 25,147,136 total shares outstanding as of April 2, 2011.