SAN JOSE, Calif., July 1 /PRNewswire-FirstCall/ -- Ultratech, Inc.
(Nasdaq: UTEK), a leading supplier of lithography and laser-processing
systems used to manufacture semiconductors and nanotechnology devices,
announced today that it has entered into a non-binding letter of intent to
purchase the assets of Oraxion, Inc. The transaction is subject to the
negotiation of definitive agreements and other standard conditions. Oraxion
makes capital equipment for surface metrology and stress analysis for the
semiconductor industry. Ultratech believes this transaction will prove to
be an important component of its strategic growth efforts.
Certain of the statements contained herein, which are not historical
facts and which can generally be identified by words such as "anticipates,"
"expects," "intends," "will," "could," "believes," "estimates," "continue,"
and similar expressions, are forward-looking statements under Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that involve risks and
uncertainties, such as risks related to our dependence on new product
introductions and market acceptance of new products and enhanced versions
of our existing products; lengthy sales cycles, including the timing of
system installations and acceptances; lengthy and costly development cycles
for laser-processing and lithography technologies and applications;
integration, development and associated expenses of the laser processing
operation; delays, deferrals and cancellations of orders by customers;
cyclicality in the semiconductor and nanotechnology industries; pricing
pressures and product discounts; high degree of industry competition;
intellectual property matters; expiration of licensing arrangements, and
the resulting adverse impact on our licensing revenues; changes to
financial accounting standards; changes in pricing by us, our competitors
or suppliers; customer concentration; international sales; timing of new
product announcements and releases by us or our competitors; ability to
volume produce systems and meet customer requirements; sole or limited
sources of supply; ability and resulting costs to attract or retain
sufficient personnel to achieve our targets for a particular period;
dilutive effect of employee stock option grants on net income per share,
which is largely dependent upon us achieving and maintaining profitability
and the market price of our stock; mix of products sold; rapid
technological change and the importance of timely product introductions;
outcome of litigation; changes in accounting policies or interpretations of
such policies; manufacturing variances and production levels; timing and
degree of success of technologies licensed to outside parties; product
concentration and lack of product revenue diversification; inventory
obsolescence; asset impairment; effects of certain anti-takeover
provisions; future acquisitions; volatility of stock price; foreign
government regulations and restrictions, the political restrictions in
Taiwan regarding offshore investments and the exporting of sensitive
technologies and jobs to certain countries; business interruptions due to
natural disasters or utility failures; environmental regulations; and any
adverse effects of terrorist attacks in the United States or elsewhere, or
government responses thereto, or military actions in Iraq, Afghanistan and
elsewhere, on the economy, in general, or on our business in particular.
Such risks and uncertainties are described in Ultratech's SEC reports
including its Annual Report on Form 10-K filed for the year ended December
31, 2005. Due to these and additional factors, the statements, historical
results and percentage relationships set forth herein are not necessarily
indicative of the results of operations for any future period. These
forward-looking statements are based on management's current beliefs and
expectations, some or all of which may prove to be inaccurate, and which
may change. We undertake no obligation to revise or update any
forward-looking statements to reflect any event or circumstance that may
arise after the date of this release.
About Ultratech: Ultratech, Inc. designs, manufactures and markets
photolithography equipment used worldwide in the fabrication of
semiconductor and nanotechnology devices, and has expanded its technology
scope in pioneering laser processing technology for IC manufacturing.
Founded in 1979, Ultratech is a market leader in gold and solder bump
lithography. Its products are designed to substantially reduce the cost of
ownership for manufacturers in the electronics industry. The company's home
page on the World Wide Web is located at www.ultratech.com.
SOURCE Ultratech, Inc.