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December 20th, 2006
Ultratech, Inc. (Nasdaq:UTEK) today updated financial guidance for the fourth quarter of fiscal year 2006, ending December 31, 2006. Full unaudited results will be reported on February 1, 2007.
Based upon softer business conditions, Ultratech has reduced its revenue and earnings forecast for the fourth quarter. Ultratech currently expects revenue to be down sequentially 25%-30% from the third quarter 2006 compared to earlier guidance of revenue being down sequentially 8%-10% as provided on October 19, 2006. The revenue shortfall is due primarily to delivery push-outs during the quarter reflecting the softer business conditions. To date, no orders for equipment have been cancelled. Earnings per share are expected to be in a range of ($0.25)-($0.30). This compares with earlier guidance of ($0.10)-($0.15).
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