27 Oct 09 Cascade Microtech Reports Third Quarter 2009 Results
Revenue of $14.0 million, Up 11% sequentially with improving margins
PORTLAND, Ore.-(MARKETWIRE)-October 27, 2009-Cascade Microtech (NasdaqGM:CSCD-News), today reported financial results for the third quarter ended September 30, 2009.
Third quarter results include:
• Revenue of $14.0 million, up 11% from Q209
• Engineering systems revenue increased 17% from Q209
• Probes and sockets revenue increased 5% from Q209
• Net loss of $1.4 million or $0.11 per share for Q309, compared to a net loss of $1.6 million or $0.12 per share in Q209
• Cash and investment balances increased by $1.4 million from Q209 to $35.1 million
"During the third quarter, we continued to see a recovery in the market place with increased revenue and improving gross and operating margins. Our focus is on achieving revenue growth while controlling operating costs in order to leverage our earnings model," said Geoff Wild, CEO of Cascade Microtech.
Financial Outlook
Based on the current backlog and anticipated bookings, Cascade anticipates that fourth quarter 2009 revenues will be in the range of $14 million to $16 million.
The company will host a conference call beginning at 5 p.m. EDT (2 p.m. PDT) on October 27, 2009, to discuss its results for the third quarter of 2009.
A simultaneous audio cast of the conference call may be accessed online from the investor relations page of 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: 60250700; International: 617-801-6888.)
Cascade Microtech Financial Statements - Q3 2009
Forward-Looking Statements
The statements in this release, particularly 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.
