SAN JOSE, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Ultratech, Inc. (Nasdaq: UTEK), a leading supplier of lithography and laser-processing systems used to manufacture semiconductors and nanotechnology devices, today announced that it has received a commendation from San Jose Mayor Ron Gonzales and the San Jose City Council. Awarded during yesterday's San Jose City Council meeting, the commendation recognizes Ultratech for its 25th anniversary, its ongoing role as a leader in existing and growing technology markets, and its pioneering efforts in new and emerging technologies for semiconductors, nanotechnology and laser processing. "Ultratech's commitment to ongoing innovation and to investing in its creative employees is a model of what has made San Jose and Silicon Valley a global center for technology," said San Jose Mayor Ron Gonzales. "We congratulate them for all their achievements in their first quarter-century and look forward to their long-term success creating more opportunities for our residents and the Silicon Valley economy." Ultratech Chairman and CEO Arthur W. Zafiropoulo noted, "We are deeply honored to receive this recognition and commendation from Mayor Gonzales and the San Jose City Council in conjunction with our 25th anniversary in business-specifically, as a San Jose-based company. Ultratech is continuing its commitment to the local economy by expanding our manufacturing facilities in San Jose, and providing R&D, office and manufacturing jobs for Silicon Valley residents. We take great pride in receiving the Mayor's commendation and look forward to furthering our legacy as a company thoroughly committed to our employees, our community and our high-tech industry." Ultratech achievements cited in the mayoral commendation include: * The company is celebrating its 25th anniversary as a San Jose-based business; * Ultratech's business model is expanding from semiconductors to nanotechnology and emerging technologies; * The company has recently been honored with its 9th Safety Award from its Worker's Compensation carriers, upholding Ultratech's reputation as one of the safest companies to work for in Silicon Valley and throughout the United States; * For two consecutive years, Ultratech has been honored by the AARP with its "Best Employers for Workers Over 50" award, which recognizes companies that demonstrate dedication to their employees over the age of 50 in the areas of recruiting, workplace culture and continuing opportunities; * Ultratech has co-hosted Semiconductor Equipment and Materials International (SEMI) Workforce Development Institute's "Chip Camp." The industry-sponsored interactive and educational program designed to excite high school students about science and math and expose students to potential career opportunities in the high-tech industry. Certain of the statements contained herein may be considered 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 lengthy and costly development cycles for advanced lithography and laser-processing technologies and applications; integration, development and associated expenses of the laser processing operation; delays, deferrals and cancellations of orders by customers; expiration of licensing arrangements, and the resulting adverse impact on Ultratech's licensing revenues; high degree of industry competition; pricing pressures and product discounts; changes in pricing by Ultratech, its competitors or suppliers; intellectual property matters; cyclicality in the semiconductor and nanotechnology industries; customer concentration; market acceptance of new products and enhanced versions of Ultratech's existing products; international sales; lengthy sales cycles, including the timing of system installations and acceptances; changes to financial accounting standards; timing of new product announcements and releases by Ultratech or its competitors; ability to volume produce systems and meet customer requirements; mix of products sold; rapid technological change and the importance of timely product introductions; dependence on new product introductions and commercial success of any new products; outcome of litigation; sole or limited sources of supply; 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; ability and resulting costs to attract or retain sufficient personnel to achieve Ultratech's targets for a particular period; dilutive effect of employee stock option grants on net income per share, which is largely dependent upon Ultratech achieving and maintaining profitability and the market price of Ultratech's stock; effects of certain anti-takeover provisions; future acquisitions; volatility of stock price; 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 Ultratech's 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, 2003 and its Quarterly Report on Form 10-Q filed for the quarter ended July 3, 2004. 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.