Ultratech higher, swings to Q1 profit
Shares of Ultratech Inc. (Nasdaq:UTEK), which makes photolithography and laser thermal processing equipment, are heating up on news before the opening that it swung to a first-quarter profit. Net income for the three months ended March 29 was $2.0 million, or $0.08 per share, compared with a net loss of $3.2 million, or $0.14 per share, a year earlier.
“During the quarter, Ultratech executed effectively and achieved higher than expected revenue and earnings,” CEO Arthur Zafiropoulo said in a statement.
At 11:21 a.m. ET, the stock had gained $1.21, or 11%, to $12.25. For detailed price information and recent news stories about Ultratech, click UTEK.
