28 Apr 09Cascade Microtech Reports First Quarter 2009 Results

PORTLAND, Ore.-(MARKET WIRE)-April 28, 2009- Cascade Microtech (NasdaqGM:CSCD), today reported financial results for the first quarter ended March 31, 2009.

First quarter results include:

• Revenue of $11.5 million, down 25% sequentially and down 45% from Q108
• Net loss of $4.2 million or $0.31 per share for Q109, compared to a net loss of $31.4 million or $2.39 per share in Q408, which included a $27.7 million impairment charge
• Cash and investment balances were lower by $1.6 million from Q408 to $33.4 million

"As expected, the first quarter of 2009 was a difficult quarter for Cascade and the semiconductor markets overall. Revenue and bookings declined during the first quarter but the effects of our cost savings initiatives have mitigated the effect on our cash balances," said Geoff Wild, CEO of Cascade Microtech. "We are aware that bookings in the market place seem to be improving, particularly in probes and sockets, which would lead us to believe that first quarter bookings may have been a trough and should improve over the remainder of 2009," added Mr. Wild.

Financial Outlook

Based on the current backlog and anticipated bookings, Cascade anticipates that second quarter 2009 revenues will be in the range of $11 million to $14 million. The Company suspended earnings per share guidance in the fourth quarter of 2008 in view of the uncertainty of the mix of revenue and the potential range of outcomes.

The company will host a conference call beginning at 5 p.m. EDT (2 p.m. PDT) on April 28, 2009, to discuss its results for the first quarter of 2009.

A simultaneous audio cast of the conference call may be accessed online from the investor relations page of http://www.cascademicrotech.com/. A replay will be available after 8 p.m. EDT at this same internet address. (For a telephone replay, dial (888) 286-8010 passcode: 82068759; International: 617-801-6888.)

Forward-Looking Statements

The statements in this release, specifically the comments above made by Mr. Wild and the paragraph above captioned "Financial Outlook," are "forward-looking" statements within the meaning of the Securities Litigation Reform act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business based in part on assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including changes in demand for the Company's products, product mix, the timing of shipments and customer orders, constraints on supplies of components, excess or shortage of production capacity and other risks discussed from time to time in the Company's Securities and Exchange Commission filings and reports, including the Company's

Annual Report on Form 10-K. In addition such statements could be affected by general industry and market conditions and growth rates and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.

Cascade Microtech Financial Statements - Q1 2009

Contact: Cascade Microtech, Inc.
Steven Sipowicz, Chief Financial Officer, 503 601-1000