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Ultra Clean Q3 results: up from Q2, down same quarter ‘08

27 October 2009 | By Emma Hughes | News > Critical Components

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Ultra Clean Holdings reports its financial results for the third quarter of 2009 with revenue and gross margin increases in comparison to the second quarter results from this year. Revenue for the quarter was US$41.3 million, up 78% while the gross margin was 7.9%, compared to 3.7% for the second quarter of 2009.

Although these results are improved from the previous quarter, they are down from the same period from 2008. The company recorded a net loss of US$1.4 million compared to a net loss of US$14.1 million for the second quarter of 2009 yet this is a net loss of US$1.9 million for the same period a year ago.

Cash amounts for the quarter were up US$0.5 million, now standing at US$30.7 million, from US$30.2 million. Third party debt at the end of the third quarter had reached US$15.6 million. This figure is a decrease of US$0.5 million from US$16.1 million at the end of the second quarter of 2009. Net cash at the end of the third quarter of 2009 increased US$1.0 million to US$15.1 million from US$14.1 million reported at the end of the second quarter.

Ultra Clean's chairman and CEO Clarence Granger said, "We are extremely pleased that business conditions in the semiconductor capital equipment industry are recovering at a faster rate than anticipated. Ultra Clean's 78% revenue growth in the third quarter far exceeded our expectations and is primarily attributed to growth in semiconductor capital equipment demand. Further, I am very proud of the success we have had in maintaining a strong balance sheet and our increased cash position in a difficult business environment."

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