Micronic withdraws the Forecast for 2002 and reduces costs
12/2/2002 4:01 AM EST
Täby, Sweden - December 2, 2002 - Micronic Laser Systems AB (OM
Stockholm Exchange: MICR), a leading manufacturer of laser pattern
generation equipment to semiconductor and display industries.
The weak semiconductor market continues to affect Micronic's customers
in the mask making segment. As a consequence, Micronic has been notified
of a further push out in the shipment of the company's second Sigma
system, planned for delivery in Q4, 2002. The continued uncertainty in
the semiconductor market gives Micronic poor visibility regarding
shipments to this sector. Micronic's Board of Directors has therefore
decided to withdraw the sales forecast for 2002. The earlier forecast
was for sales to be in line with last year´s sales (MSEK 699). Net sales
for the period January - September 2002 amounted to MSEK 314.
Micronic has taken actions to reduce the company´s cost base. Total cost
for external consultants has been reduced. The number of employees is
being reduced by 10 percent. The financial effect of these actions will
start to show in the fourth quarter 2002. Restructuring charges
amounting to approximately MSEK 7 will affect the quarter.
"Micronic is the undisputed leader for pattern generators in the
display industry. We have also developed a unique product platform based
on our proprietary SLM technology. This development has brought us to
the forefront of the 10 times larger semiconductor pattern generator
market. The first product of this new technology, the Sigma7100, has
been shipped. The next product, Sigma7300, is now being launched at
Semicon Japan. The Sigma7300 meets the state-of-the art requirements for
the 90 nanometer design node and is even capable of addressing critical
photomask layers for the 65 nanometer node" says Sven Lofquist,
president & CEO of Micronic Laser Systems and continues: "We have for
several years, even in the downturn, made large investments in R&D to
secure a successful introduction of commercial products based on the SLM
technology and position the Sigma products in the forefront of the
market. Thus, we have now reached the point where we can begin to reduce
the R&D tempo for pattern generators without jeopardizing the
investment. As a consequence of the continued weak market, we are also
executing necessary restructuring of the company to match the current
environment".
About Micronic Laser Systems AB
Micronic Laser Systems is a Swedish high-tech company engaged in the
development, manufacture and marketing of a series of extremely accurate
laser pattern generators for the production of photomasks. The
technology involved is known as microlithography. Micronic´s systems are
used by the world´s leading electronics companies in the manufacture of
television and computer displays, semiconductor circuits and
semiconductor packaging components. Micronic is located in Taby, north
of Stockholm and at present has subsidiaries in the United States, Japan
and Taiwan. Micronic maintains a web site at: http://www.micronic.se
Company contact: Agency contact:
Sven Lofquist Dylan McGrath
President & CEO The Loomis Group, Inc.
Tel: +46 8 638 52 00 Tel: +1 415 882 9494