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Cymer Revenue Drops, Beats July Forecast

Cymer Inc., a San Diego-based maker of laser light sources used in the production of microchips, reported net income of $12.7 million on revenue of $99.7 million during the third quarter ended Sept. 30.

Both numbers are down from last year. In the year-ago quarter, Cymer reported net income of $15.4 million on revenue of $107.1 million.

Cymer reported the results Oct. 18 after its stock closed at $33.50. In after-hours trading, the stock climbed to $34.62.

Third-quarter total revenue and gross margin exceeded Cymer’s July 19 forecast.

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Commenting on corporate outlook, Bob Akins, Cymer’s chief executive, made a nod to Apple’s newest piece of consumer electronics.

“We are particularly encouraged by the NAND flash production opportunity as it enables the expansion of the market for a growing generation of newer portable products capable of storing and quickly retrieving immense amounts of data, and the impact that is just beginning to have on the consumer video entertainment marketplace , the newly announced video iPod, games, camcorder phones, and a variety of other digital consumer products,” he said.

Cymer said fourth-quarter product revenue should rise 2 percent to 3 percent from third-quarter revenue.

Cymer, based in Rancho Bernardo, trades on Nasdaq under the symbol CYMI.

, Brad Graves

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