Cymer profits, sales soar

April 20, 2006 – Cymer Inc., San Diego, CA, posted a profit of $20.6 million in 1Q06, a whopping 283% increase over a year ago, on 50% higher sales of $127.1 million. Compared with the previous quarter, sales increased 24%, and net income was up 18%.

Gross margins increased to 46%, with a 67% quarter-over-quarter increase in operating income. CEO Bob Akins noted particularly strong demand for krypton fluoride (KrF) light sources. Bookings rose 13% to a record $135.6 million in 1Q06, with a book-to-bill ratio of 1.07.

Consumer electronics demand continues to drive growth in lithography and semiconductor equipment in general, Akins noted, adding that there are a large number of multiyear product cycles in the early stages of development, including NAND flash-enabled portable devices, new video game platforms, and mobile broadband Internet use.

Cymer currently projects 2Q06 revenues will be up 5%-10% sequentially, with relatively flat ASPs ($970,000) as demand for lower-priced KrF light sources offsetting ASP growth for the company’s higher-margin XLA series. Gross margins are projected to inch up to 48%-49%.

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