Ultratech Results Surpass Estimates

(RTTNews) - Ultratech Inc (UTEK) on Thursday reported second-quarter net earnings of $1.5 million or $0.06 per share compared with a loss of $3.9 million or $0.14 per share last year.

Revenues for the quarter were $45.9 million compared with $36.8 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.01 per share on revenues of $44.6 million for the quarter. Analysts' estimates typically exclude special items.

"Ultratech's results primarily reflect strong demand for our advanced packaging tools, which is driven in part by the need for cutting-edge consumer mobile products," said CEO Arthur Zafiropoulo.

Ultratech, based in San Jose, California, makes photolithography, laser thermal processing, and inspection equipment.