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Cymer’s First Quarter Nearly a Repeat of Last Year

Cymer Inc., the San Diego manufacturer of excimer laser equipment used by the semiconductor industry, reported first quarter net profit of $20.3 million on revenue of $126.7 million, the company said April 24.

Those results were a tad below what Cymer did for the first quarter of 2006 when it had $20.6 million in net income on revenue of $127.1 million.

Cymer CEO Bob Akins said the 8 percent decline in revenue from the company’s guidance issued in January was caused when a customer changed its order and pushed it out to later in the year. Had it not been for the changes, the company would have met the forecasted revenue level, Akins said.

Shares of Cymer, traded under CYMI on Nasdaq, fell $3.59 to $40.06 in after-hours electronic trading after the news was announced following the market’s official close on April 24.

CYMI has ranged from $33.75 to $55.49 over the last 52 weeks.

Cymer also announced a stock repurchase program of up to $300 million in common stock. The company held more than $540 million in cash as of March 31.

, Mike Allen

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