Ultratech reports lackluster results below the Street
Ultratech, Inc. (Nasdaq: UTEK), a manufacturer and marketer of photolithography and laser thermal processing equipment, reported this morning that it recorded a loss for the third quarter, below the consensus on Wall Street of a profit.
For the three months ended Sept. 29, the San Jose, Calif.-based firm recorded a net loss of $0.9 million, or $0.04 per share, while six analysts polled by Thomson Financial were expecting a profit of $0.01 per share for the quarter. For the third quarter last year, Ultratech booked a net loss of $2.6 million, or $0.11 per share.
Sales also fell below the consensus on Wall Street. Net sales were $25.2 million, compared with the $29.35 million four analysts polled by Thomson Financial were forecasting. During the third quarter of 2006, the company earned $33.9 million in revenue.
Shares of Ultratech (UTEK) were halted in pre-market trading.
