Aviza Reports Fiscal Year 2008 4Q and Year-End Financial Results

Thu. November 27, 2008; Posted: 10:15 PM

Nov 28, 2008 (10Meters.com via COMTEX) -- AVZA | Quote | Chart | News | PowerRating -- Aviza Technology, Inc., a supplier of advanced semiconductor capital equipment and process technologies for the global semiconductor industry and related markets, has reported results for the fourth quarter and year-end of fiscal year 2008, which ended on September 26.

In a release, the Company noted fiscal year 2008 fourth quarter financial highlights:

- Fourth quarter shipments were $35.5 million.

- Fourth quarter net sales of $35.5 million were within the range of the Company's guidance of $35 million to $40 million for the quarter.

- Fourth quarter gross margin improved to 36.5 percent from the third quarter.

- Fourth quarter net loss was $3.1 million, or ($0.14) per share. Adjusted net income was $941,000, or $0.04 per share.

"We are pleased with our results for the fourth quarter, particularly our improvement in net sales and gross margin, which is the highest gross margin that the Company has achieved since becoming publicly traded," said Jerry Cutini, Aviza's president and chief executive officer. "It is a reflection of our ongoing efforts to sustain our financial performance in the face of an extremely challenging macroeconomic environment which is expected to continue well into 2009. We remain committed to focusing on our served market with single-wafer products."

The company also offered its forecast - fiscal 2009 first quarter ending December 26:

Aviza's guidance for the first quarter of fiscal 2009 is predicated on the Company's continued focus on a shift in its product mix. Aviza expects that first quarter net sales will be in the range of $25 million to $32 million, with an adjusted net income of $50,000 to an adjusted net loss of $4 million.

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