Ultratech Announces Letter of Intent with Oraxion, Inc.

Jul 01, 2006, 01:00 ET from Ultratech, Inc.

    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.