DuPont Photomasks, Inc. announced on 21 July 2004 its results for the fiscal year and quarter ended 30 June 2004.
Revenue for the 4Q fiscal 2004 was USD 97.4 million, an 11% sequential increase when …
DuPont Photomasks, Inc. announced on 21 July 2004 its results for the fiscal year and quarter ended 30 June 2004. Revenue for the 4Q fiscal 2004 was USD 97.4 million, an 11% sequential increase when compared with the 3Q fiscal 2004, and an increase of 19% compared with revenue of USD 81.8 million for the year-ago quarter. Net loss for the 4Q of fiscal 2004 was USD 34.1 million, or USD 1.85 per share. The results for the 4Q of fiscal 2004 included: a USD 30.4 million non-cash valuation impairment charge, in accordance with FAS 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” related to under-utilized equipment in Europe; a USD 2.1 million severance charge resulting from work force reductions in North America and Europe; and a USD 0.4 million non-cash benefit resulting from lower than anticipated facility closure costs associated with the company“s previously announced consolidation initiative in Hamburg, Germany. In the 4Q of fiscal 2003, the company had a net loss of USD 59.1 million, or USD 3.27 per share. The results for the 4Q of fiscal 2003 included a USD 43.2 million non-cash valuation impairment charge in accordance with FAS 144 and a special charge of USD 4.4 million related to severance. Revenue for fiscal 2004 was USD 353.8 million, up 9% from the previous year“s total of USD 323.1 million. Net loss for fiscal 2004 was USD 72.9 million or USD 4.00 per share and included a USD 30.4 million non-cash valuation impairment charge in accordance with FAS 144 and special charges of USD 3.8 million. Net loss for the previous fiscal year was USD 113.5 million, or USD 6.30 per share and included a USD 43.2 million non-cash valuation impairment charge in accordance with FAS 144 and special charges of USD 26.1 million. “During fiscal year 2004, our company made significant progress executing on our plan to return to profitable growth,” said Marshall Turner, chairman and CEO of the Round Rock, Texas-based company, in a statement. “Revenue grew sequentially each quarter of the year, driven by our strong technology position and much improved performance against operating metrics. I am particularly pleased that leading-edge revenue from photomasks supporting 130-nanometer and below design rules increased nearly 20% sequentially last quarter and represented 32% of our total revenue. We believe that our technology position will further strengthen as we ramp the world“s most advanced photomask research and production center in Dresden, Germany in support of our customers“ leading edge process migration.” DuPont Photomasks is a leading supplier of photomasks to the semiconductor and microelectronics industries.