Mattson Technology, Inc. Reports Results for the Third Quarter 2010

by Zagros on October 21, 2020

Marketwire    ”Press Releases ”
FREMONT, CA  — (MARKET WIRE) -  10/20/10  -  Mattson Technology, Inc.  (NASDAQ: MTSN), a leading supplier of advanced process equipment used to manufacture semiconductors, today announced results for the third quarter ended  September 26, 2020 .

Recent Business Highlights:

- Revenues increased sequentially 24 percent over the second quarter of 2010 — Cash, cash equivalents and short-term investments grew from the second quarter — Rapid Thermal Process (RTP) shipments made to a foundry customer and continued etch shipments underscore the Company’s growth strategy

Third Quarter 2010 Financial Results

Net sales for the third quarter were  $39.8 million , compared with  $32.1 million  in the second quarter. Gross margin for the third quarter was  $14.5 million  or 37 percent, compared with  $9.9 million  or 31 percent for the second quarter.

Operating expenses for the third quarter were  $19.5 million , virtually flat compared with the second quarter.

Net loss for the third quarter was  $6.4 million , or  $0.13  loss per share, compared with a net loss of  $8.4 million , or  $0.17  loss per share, for the second quarter.

Cash, cash equivalents, short-term investments and restricted cash at the end of the third quarter were  $45.3 million , compared with  $42.5 million  at the end of the second quarter.

David L. Dutton ,  Mattson Technology’s  president and chief executive officer, noted, “We have had several significant accomplishments that highlight the continued success of our growth strategy. Most notably, we are making significant advancements in etch. During the third quarter we shipped a number of our paradigmE® etch systems for use in volume production, and we expect that etch will continue to make significant contributions to the Company.

“The Suprema® photoresist strip system continues to gain position as evidenced by the multiple wins we have announced. Additionally we shipped multiple Helios® XP systems into the foundry market, which represents a new market for our RTP division.” Mr. Dutton concluded, “As we look to the future,  Mattson Technology  is now a broader-based company, showing continued growth and positioned to generate increasing revenue and profitability.”

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