San Diego Business Journal

Cymer Sees Revenues Rise, Profits Decline

Monday, February 6, 2012

Cymer Inc., a San Diego-based maker of lasers used for manufacturing semiconductors, reported fourth-quarter net income of $12.5 million on revenue of $152.9 million Feb. 2.

That compared with net income of $32.9 million on revenue of $146.9 million in the fourth quarter of 2010.

For the full year, Cymer reported net income of $80.2 million, down from $91 million in 2010. Revenue for the year came in at $594.2 million, up from $534.2 million in 2010.

Cymer said it delivered 154 deep ultraviolet light sources to customers last year, and generated a gross profit of $305.1 million, resulting in a gross margin of 51 percent.

As of Dec. 31, the company’s cash and cash equivalents stood at $324 million, up $107 million from the end of 2010.

Cymer forecast its first-quarter revenue to finish at about $138 million, with gross margin of 48 to 49 percent. It did not provide an earnings forecast.

Cymer trades on Nasdaq as CYMI.

Mike Allen