Cymer Inc., a San Diego-based maker of laser equipment used to make semiconductors, reported net income for the fourth quarter of $16.4 million on revenue of $102.8 million, compared with net income of $10.4 million on revenue of $128.1 million for the prior year’s fourth quarter.
For all of 2005, Cymer reported net income of $45.4 million on revenue of $383.6 million, compared with 2004, when it reported net profits of $43.1 million on revenue of $418 million.
Cymer Chief Executive Officer Bob Akins said he’s buoyed by the firm’s fourth-quarter performance and expects a positive 2006.
“Fundamental demand for chips is growing and stressing today’s worldwide chip production capacity,” Akins said.
With capacity running at record levels, and evidence of increased capital investment by leading logic, memory and foundry manufacturers, Cymer is well positioned to capitalize on its position, he said.
For the first quarter, Cymer forecast sales would come in at 15 percent to 18 percent higher than those in the fourth quarter. Gross margins on Cymer’s products should run between 44 percent to 45 percent.
Cymer recognized sales on 48 of its laser machines in the fourth quarter, which carried an average price tag of more than $1 million. In addition to the equipment sales, Cymer reported a record sales number related to servicing and spare part replacements in the fourth quarter of $52.5 million, accounting for 51 percent of total revenue.
The results released Jan. 31 caused nearly a $5 jump in Cymer shares, traded under CYMI on Nasdaq, to $49.76 on Feb. 1, just below its 52-week high of $50.38.
, Mike Allen