SpeedFam-IPEC sales up 49%; universal CMP tool to ship soon
(12/19/00 14:40:41)

CHANDLER, Ariz.--SpeedFam-IPEC Inc. here today reported revenues increased 49% to $82.9 million in the company's fiscal second quarter, ended Dec. 2, compared to $55.8 million in the period last year. The supplier of chemical mechnical planarization (CMP) tools also posted a net loss of $3.6 million in the second fiscal quarter vs. a net loss of $8.7 million last year.

The company said shipments of its new universal CMP system, called Momentum, was on schedule for initial shipments the current fiscal quarter. The Momentum system was announced last summer as a revolutionary CMP platform, combining the best of best of rotational and orbital approaches as well as other design improvements for a number of process applications in 0.13-micron chip production (see July 5 story).

"As we fine-tune the process capabilities of Momentum, we are producing process results that surpass the competition for the most advanced applications," claimed Richard J. Faubert, president and chief executive officer of SpeedFam-IPEC. "In addition, we are achieving results that are better than we had originally forecasted."

SpeedFam-IPEC's second-quarter revenues were 11% sequentially higher than $74.7 million in the prior three-month period. The company's loss per share of -$0.12 was one cent better than Wall Street's consensus of -$0.13, based on a poll of analysts by First Call/Thomson Financial.