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SEZ Group Reports Results for Business Year 2007
- Net sales of CHF 330.7 million
- Order intake of CHF 300.5 million
- Operating loss (EBIT) of CHF 6.3 million For the 2007 business year, the SEZ Group (SWX Swiss Exchange: SEZN) recorded net sales of CHF 330.7 million—15.6 percent below the 2006 record of CHF 392.0 million—with order intake down by 26.3 percent to CHF 300.5 million compared to the prior business year. These results reflect demand weakness for semiconductor manufacturing equipment following the erosion of demand from the memory market during the first half-year and the lack of the expected recovery in the foundry segment to materialize. This market environment impacted production capacity utilization and economies of scale, resulting in a gross profit margin decline to 35.9 percent. Subsequently, SEZ reported an operating loss (EBIT) of CHF 6.3 million, which includes impairment and provisions of CHF 2.1 million for the laboratory shutdown in Japan, as well as transaction costs of CHF 9.8 million in connection with the tender offer of Lam Research Corporation. The net loss for the year was CHF 3.3 million or CHF 0.20 per registered share. On 11 March 2008, Lam Research Corporation (Nasdaq: LRCX) settled its public tender offer for SEZ, after all conditions of the offer were met. As of 12 March 2008, the integration of the SEZ Group into Lam Research Corporation has been in progress. Lam Research has now incorporated SEZ as the new Spin Clean Division within Lam Research, and is targeting to delist SEZ from the SWX Swiss Exchange during the calendar year 2008. Quarterly Key Figures 2007
| in CHF million |
| Q4/07 | Q3/07 | Q2/07 | Q1/07 | Q4/06 | Order intake | 76.1 | 48.0 | 75.1 | 101.3 | 107.3 | Net sales | 57.6 | 65.7 | 104.8 | 102.6 | 108.6 | Operating income (EBIT) | (21.1) | (5.4) | 10.3 | 9.9 | 12.4 | Net profit (loss) | (18.2) | (5.8) | 10.8 | 9.8 | 12.2 | Order backlog end of period | 43.5 | 22.5 | 39.1 | 68.8 | 72.7 | Book-to-bill ratio | 1.32 | 0.73 | 0.72 | 0.99 | 0.99 |
Key Figures after 12 Months
| in CHF million |
| 2007 | 2006 | Order intake | 300.5 | 407.7 | Net sales | 330.7 | 392.0 | Operating income (EBIT) | (6.3) | 38.7 | Net profit (loss) | (3.3) | 36.5 | Order backlog end of year | 43.50 | 72.7 | Book-to-bill ratio | 0.91 | 1.04 |
Average exchange rates for January – December 2007:
EUR/CHF 1.64259; USD/CHF 1.20011 This press release includes the following tables (full-year 2007): key figures, income statements, balance sheets, statements of cash flows and changes in equity. Beginning today, the complete 2007 Annual Report is available on SEZ’s homepage located at www.sez.com (Investor/Financial Reports). Additionally, quarterly income statements are available for download on SEZ’s homepage under Investor/Financial Reports/Quarterly Results. About SEZ Group
The SEZ Group is the leading provider of single-wafer wet-clean processing solutions for the semiconductor industry, with an installed base of over 1,200 tools. The company maintains operations in Asia Pacific, Europe, Japan and North America. Since 1996, registered shares of SEZ Holding Ltd. have been traded on the SWX Swiss Exchange under the symbol SEZN. As of March 2008, SEZ is a division of U.S.-headquartered Lam Research Corporation (Nasdaq: LRCX). Additional information about SEZ is available on the Internet at www.sez.com.
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