Ultratech Q2 Profit Plunges Amid Lower Sales - Quick Facts

(RTTNews) - Ultratech, Inc. (UTEK), a supplier of lithography, laser-processing and inspection systems, Thursday said second-quarter profit declined sharply from the previous year, amid lower sales.

Ultratech's net income fell to $0.9 million or $0.03 per share from $11.2 million or $0.41 per share for the same quarter last year. On average, 6 analysts polled by Thomson Reuters expected earnings of $0.04 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales dropped to $42.9 million from $59.1 million. Analysts expected revenues of $44.56 million.

Arthur Zafiropoulo, Chairman and CEO, said, "We believe the longer term prospects for our success remain firmly in place...With our leading technology position, premier customer base, and dedicated workforce around the globe, we believe we remain well-positioned to capture a leading share of our target markets in the future."