US thin-film specialist Southwall Technologies has announced a 42.4% improvement in fourth quarter revenue to US$ 21.5 million, compared to the 1999 figure. Full-year sales to 31 December 2000 rose 57…
US thin-film specialist Southwall Technologies has announced a 42.4% improvement in fourth quarter revenue to US$ 21.5 million, compared to the 1999 figure. Full-year sales to 31 December 2000 rose 57.3% to US$ 85.9 million. In a press release, Southwall said that the decrease from third quarter 2000 revenues of US$ 26.4 million was mostly due to a reduction in demand for the company“s anti-reflective film used on computer display monitors. The slowdown in demand for anti-reflective film follows the downturn in PC sales and is expected to continue into 2001, the company said. Southwall is consequently revising its sales forecasts for the first quarter 2001 to about US$ 18 million and also announced a restructuring charge in the quarter of US$ 200,000. In response to the slowdown in orders, Southwall plans to cut 55 jobs, 19% of its total US workforce, at its plants in Tempe, Arizona, and Palo Alto, California. Southwall said it expects the job cuts to save the company US$ 3 million a year.