Zygo Earns Q4 Profit, Posts Loss for Year
MIDDLEFIELD, Conn., Aug. 20, 2010 — After posting a $47.4 million loss during Q4 2009, Zygo Corp. recorded a profit for the fourth quarter of 2010 of $4.1 million, or 23 cents per share, the optical metrology instruments and precision optics supplier announced. The earnings represent its first quarterly profit in almost two years. The company also posted a loss for fiscal 2010 of $6.3 million, or 37 cents a share, compared to the loss of $66 million, or $3.92 per share, it recorded for fiscal 2009.
Zygo said its Q4 net earnings include an income tax benefit of $1.5 million, or 9 cents per share, and that revenue for fiscal 2010 overall was $101.3 million, down from $114.7 million for fiscal 2009.
Fourth quarter revenue of $28.5 million increased 20 percent year-over-year, reflecting continued improvements in the overall business environment and strong orders for its metrology products, Zygo said.
Bookings for the fourth quarter, which include a $3.1 million follow-on optics order for large slab laser fusion amplifier fabrication, more than doubled year-over-year, to $32.7 million, with its Metrology Solutions Div. accounting for 73 percent of the total.
"The increasing booking trends are very encouraging as we believe the markets we participate in are continuing to strengthen," said President and CEO Dr. Chris Koliopoulos. "We are especially pleased with the fourth quarter results, posting a quarterly profit for the first time in seven quarters.
"Through improving economic conditions and the good efforts of our workforce, we believe Zygo has turned the corner and expect to see continuing growth in our businesses for the next quarter," Koliopoulos said.
For more information, visit: www.zygo.com