San Diego Business Journal

Cymer Reports Net Income of $9.8M for Q3

Tuesday, October 30, 2012

Cymer Inc., the San Diego maker of laser equipment used in the manufacture of semiconductors, reported third quarter net income of $9.8 million, compared with net income of $11.3 million for the like quarter of 2011.

Revenue was $131.5 million, compared with $128.7 million in the like period of 2011.

During the quarter, the company shipped 27 deep ultraviolet laser devices. The gross profit was $71.8 million, for a gross margin yield of 54.6 percent.

CEO Bob Akins said the third quarter profits exceeded expectations, but revenue was below the guidance provided as demand for deep ultraviolet products softened.

Earlier this month, Cymer announced the sale of the company to Holland-based ASML Holding NV, its largest customer, for about $2.5 billion. The transaction still needs approvals from Cymer’s shareholders and regulators, but is expected to close sometime in the first half of 2013.

Shares of Cymer, traded under CYMI on Nasdaq, have gained about 30 points since the transaction was announced, and were just below $79 on Oct. 29.