Ultratech Inc. (UTEK) Senior Vice President and CFO Bruce R. Wright outlined trends that present a more positive financial outlook for the company at the 34th annual Canaccord Genuity Global Growth Conference held this week in Boston.
Ultratech, a supplier of lithography, laser-processing and inspection systems used to manufacture semiconductor devices and high-brightness LEDs (HB-LEDs), has seen decline in revenues since the first quarter in 2013, primarily due to more memory spending than logic, Wright said. However, he says that the demand for newer technology, particularly in the nanotechnology arena, promises greater market and revenue growth potential.
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This is good news for Ultratech, who is the leader in this sector and is poised to meet new industry demands for components that provide greater speed and memory space, he said.
“We’ve shifted from memory spending to seeing logic spending on the rise,” Wright said. “We perform much better on the logic side. Our guidance is showing a 15-25% revenue increase over 2013 by fourth quarter 2014.”
Wright noted the company’s other business units, including advanced packaging and laser processing are also seeing increased bookings, which will add to increasing revenue by year’s end.
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