SYRACUSE, N.Y. & ZURICH, Switzerland--(BUSINESS WIRE)--April 14, 2005--INFICON (SWX Swiss Exchange: IFCN), a leading manufacturer of instrumentation and process control software for the semiconductor and vacuum-coating industries and other industrial applications, today announced financial results for the first quarter ended March 31, 2005.
Revenues for the first quarter of 2005 were $50.0 million, compared to $47.3 million for the first quarter of 2004, representing a 5.7% increase. On a constant dollar basis, revenues for the quarter increased 2.5%. The company reported net income of $3.9 million ($1.67 per diluted share - $0.17 per ADS). In the first quarter of 2004, the company reported net income of $3.5 million ($1.51 per diluted share - $0.15 per ADS).
Lukas Winkler, president and chief executive officer, commented, "We are pleased with the improvements in our first quarter performance, driven primarily by sales to the refrigeration/air conditioning, industrial and automotive markets, as well as continued demand in the 300mm semiconductor manufacturing equipment space. We believe the segments of the semiconductor market that INFICON serves will continue to grow as evidenced by interest in our in situ metrology products, such as FabGuard Analysis software and in situ sensors, especially in Asia. This quarter we shipped over $4 million of these products to a single, major Korean customer. We are also encouraged by the renewed signs of activity in the data storage markets and in OLED manufacturing of flat-panel displays.
"Sales of our Environmental Health & Safety ("EH&S") products to the emergency response and security markets, although slightly less than in last year's first quarter, recovered due to improved sales to U.S. military agencies. In addition, we received a number of orders from environmental agencies in China for HAPSITE Chemical Identification Systems and water monitoring products.
"Based on our existing pipeline of opportunities and the current environment in our industries, we expect to generate sales of approximately $49 million in the second quarter of 2005. This guidance is approximately on par with sales of the second quarter of 2004, which totaled $49.8 million. For the second quarter of 2005, we expect net income of approximately $3.0 million ($1.28 per diluted share - $.13 per ADS)."
As of March 31, 2005, the company had $58.3 million in cash, cash equivalents and short term investments, having used $0.7 million for operations and $1.2 million in investing activities during the first three months of the year.
Conference Call Information
INFICON will hold a conference call to discuss its first quarter 2005 results on Thursday, April 14, 2005 at 02:30 p.m. CET /08:30 a.m. ET. To access the conference call, please dial +1.706.634.1033 at least 10 minutes prior to the call. A live webcast of the conference call will also be available in the Investor Relations section of the INFICON website, www.inficon.com.
A telephone replay of the call will be available from 5:30 p.m. CET/11:30 a.m. ET on April 14 through 5:59 a.m. CET April 22 /11:59 p.m. ET on April 21. To access the replay, please dial +1.800.642.1687 (international callers dial +1.706.645.9291), conference ID number 5076062. An archived replay of the conference webcast also will be available on the INFICON website.
INFICON is a leading developer, manufacturer and supplier of innovative instrumentation, critical sensor technologies, and advanced process control software for the semiconductor and vacuum-coating industries and other industrial applications. These analysis, measurement and control products are vital to original equipment manufacturers (OEMs) and end-users in the complex manufacturing of semiconductors, flat panel displays, magnetic and optical storage media and precision optics. INFICON also provides essential instrumentation for gas leak detection to the air conditioning/refrigeration industries and toxic chemical analysis for the emergency response and security markets. Headquartered in Syracuse, New York, INFICON has world-class manufacturing facilities in the United States and Europe and worldwide offices in the U.S., China, France, Germany, Japan, Korea, Liechtenstein, Singapore, Switzerland, Taiwan, and the United Kingdom. For more information about INFICON and its products, please visit the Company's website at www.inficon.com.
This press release and oral statements or other written statements made, or to be made, by us contain forward-looking statements that do not relate solely to historical or current facts. Forward looking statements can be identified by the use of words such as "may", "believe", "will", "expect", "project", "assume", "estimate", "anticipate", "plan", "continue", "resumes", "opportunity," "potential", "outlook", "forecast" or "guidance." These forward-looking statements address, among other things, our strategic objectives, trends in vacuum technology and in the industries that employ vacuum instrumentation, such as the semiconductor and related industries and the anticipated effects of these trends on our business. These forward-looking statements are based on the current plans and expectations of our management and are subject to a number of uncertainties and risks that could significantly affect our current plans and expectations, as well as future results of operations and financial condition. Some of these risks and uncertainties are discussed in the Company's Annual Report on Form 20-F for fiscal 2004 and the Company's reports on Form 6-K filed with the Securities and Exchange Commission during 2004 and 2005. As a consequence, our current and anticipated plans and our future prospects, results of operations and financial condition may differ from those expressed in any forward-looking statements made by or on behalf of our company. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.