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Friday, Jun 9, 2023

Cymer Reports Profit, But Business Slows

Cymer, the San Diego maker of industrial lasers used in the microchip fabrication process, was profitable for the fourth quarter and for 2008, though sales and profits were down.

The company released its results Feb. 11.

For the quarter ended Dec. 31, the company disclosed net income of $3.98 million on revenue of $100 million.

Net income in the year-ago quarter was $21.4 million on revenue of $139.9 million.

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For the year, Cymer reported net income of $36.5 million on revenue of $459 million. By contrast, 2007 net income was $88.4 million on revenue of $521.7 million.

Cymer has announced a number of cost-cutting measures, including layoffs. The company said in November it planned to cut 100 workers. In January, it said it would cut another 85 people and cut employee base pay 10 percent. The pay cut is temporary, the company said.

Looking ahead, Cymer said it expects revenue to shrink 45 percent in the first quarter.

The company shipped 19 laser light sources in the fourth quarter, with selling prices averaging $1.9 million each.

Cymer’s Nasdaq symbol is CYMI. By midday Feb. 12, shares were at $20.72.

, Brad Graves


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