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Posted: April 17, 2008
ZYGO Provides Preliminary Third Quarter Fiscal 2008 Results
(Nanowerk News) Zygo Corporation (NASDAQ: ZIGO) today announced preliminary financial results for the third quarter of fiscal 2008. Although ZYGO has not finalized its results for the quarter, the Company anticipates third quarter sales to be approximately $38.0 million and expects third quarter net earnings to be break-even. Third quarter earnings were reduced by approximately $0.03 per share as a result of operational costs incurred from the Company's acquisition of certain assets of Solvision, Inc. in February 2008. These preliminary results do not include any adjustments relating to the purchase accounting valuation of the acquisition. This valuation may result in the recovery of a portion or all of the note receivable extended by the Company to Solvision in the prior quarter, which was previously reserved.
Orders in the third quarter were approximately $39.0 million. Continued softness in semiconductor capital spending adversely affected orders in the Company's Optical and Metrology divisions, which was partially offset by continued strength in the display market.
The Company plans to announce its financial results for the third quarter of 2008 and host a conference call on Thursday, April 24, 2008. ZYGO will provide further perspective on the quarter during the Company's upcoming quarterly earnings call.
Zygo Corporation is a worldwide supplier of optical metrology instruments, precision optics, and electro-optical design and manufacturing services, serving customers in the semiconductor capital equipment and industrial markets.