Asyst Technologies Inc (909326) SEC Filing 10-K Annual report for the fiscal year ending Monday, March 31, 2008

Asyst Technologies Inc

CIK: 909326
     FREMONT, Calif., May 6, 2008 — Asyst Technologies, Inc. (Nasdaq: ASYT), a leading provider of integrated automation solutions that enhance semiconductor and flat panel display manufacturing productivity, today reported financial results for its fiscal fourth quarter ended March 31, 2008.
     Net loss for the fiscal fourth quarter according to GAAP was $12.9 million, or $0.26 per share, which compares with a net loss of $0.9 million, or $0.02 per share, in the prior sequential quarter. Non-GAAP net loss for the fiscal fourth quarter was $10.3 million, or $0.21 per share, which compares with non-GAAP net income of $1.0 million, or $0.02 per share, in the prior sequential quarter. Both GAAP and non-GAAP net income for the quarter include non-cash charges of approximately $0.05 per share to increase reserves related to the company’s long-term tax strategies.
     Net sales for the fiscal fourth quarter were $94.3 million, which compares with $106.5 million in the prior sequential quarter. Net sales related to automated material handling systems (AMHS) were $62.0 million, which compares with $68.4 million in the prior sequential quarter. Net sales related to tool and fab automation solutions were $32.3 million, which compares with $38.0 million in the prior sequential quarter.
     Bookings in the quarter totaled $137 million, up 65% from $83 million in the fiscal third quarter. The increase is largely attributable to $49 million of bookings related to several projects in flat panel display (FPD), including a previously announced large Gen 8 project in Korea.
     Steve Schwartz, chairman and chief executive officer of Asyst, said, “With this large Gen 8 order from a key customer, we believe that we are positioned to again be a significant participant in flat panel display manufacturing automation. We also saw increased bookings in semiconductor AMHS, however the increase is more reflective of the timing of customer order decisions than of a fundamental turn in the industry. Based on the AMHS outlook among our market-leading semiconductor customers, we continue to believe that such a turn could be evident in bookings as early as this fall.”
     Michael A. Sicuro, chief financial officer, said, “We recorded reserves in the quarter related to our long-term tax strategies, which we anticipate will contribute to a lower effective tax rate in future periods. The increased bookings in the fiscal fourth quarter allowed us to build backlog, however the relatively low level of current customer activity leads us to an essentially


The following information was filed by Asyst Technologies Inc on Monday, May 12, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
CIK: 909326
Form Type: 10-K Annual Report
Accession Number: 0000950134-08-011099
Submitted to the SEC: Wed Jun 11 2008 7:56:41 PM EST
Accepted by the SEC: Thu Jun 12 2008
Period: Monday, March 31, 2008
Industry: Special Industry Machinery

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