News
Semitool sales up
Semitool Inc. says its earnings in the second quarter of fiscal year 2002 increased from the previous
three-month period, but not enough to counter a significant loss from same period last year.
By the AP The IR
The company’s net sales for the second quarter increased to $31.3 million, a jump of 17 percent. However, that amount is still a 64
percent loss from the second quarter of 2001, when the company earned $86.7 million, officials said.
The company said last year’s figures include income from a $19.5 million sale of its software control business.
The Kalispell-based firm designs and manufactures equipment used to produce computer chips. Semitool employs about 950
workers in the Flathead Valley.
Ray Thompson, Semitool’s president and chief executive officer, said the company is enjoying a period of solid activity, “although
there is still a way to go before we could call this an upturn.”
Sales in the first half of fiscal year 2002 were $58.1 million, down 62 percent from the same period in 2001, officials said.
Shipments for this fiscal year’s second quarter were $38.5 million, up from $17.4 million in the first quarter of the year.
New orders were down slightly from the previous quarter, from $27 million to $24 million, the company said.
Thompson said he expects the company’s third-quarter revenue to reach at least $32 million, and shipments to increase to as much
as $31 million.
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