WASHINGTON (dpa-AFX) - Ultratech, Inc. (UTEK) posted first-quarter net income of $10.2 million or $0.38 per share compared to $7.9 million or $0.30 per share last year.
Net sales for the three-month period rose to $49.6 million from $47.4 million in the prior year.
Analysts polled by Thomson Reuters expected the company to earn $0.28 per share on revenues of $47.48 million for the quarter. Analysts' estimates typically exclude special items.
Arthur Zafiropoulo, chairman and chief executive officer, commented, 'Ultratech again exceeded our initial expectations as strong demand continued for our technologically advanced products, which enable our customers to succeed in the three key business areas that we serve: advanced packaging, laser processing and high-brightness LED (HBLED) markets. In particular, our strong financial performance reflects increased momentum in the sales of our 28-nm laser annealing products and the benefits of increasing production capacity in our Singapore facility.'
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