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8-K - FORM 8-K - FSI INTERNATIONAL INC | c64930e8vk.htm |
Exhibit 99
FOR IMMEDIATE RELEASE
FSI International Pre-Announces Preliminary Third Quarter Fiscal 2011 Financial Results
The company gains ORION® Single Wafer Cleaning System acceptance from a leading foundry,
bringing to five the number of customers adopting the system for advanced production applications
MINNEAPOLIS (June 1, 2011) FSI International, Inc. (Nasdaq: FSII), a leading manufacturer of
surface conditioning equipment for microelectronics manufacturing, today pre-announced its
financial performance for the third quarter of fiscal 2011 and reported the acceptance of an
ORION® system by a major semiconductor foundry.
Industry conditions were weaker than anticipated in our third fiscal quarter as macro-economic
conditions and the repercussions of the Japan earthquake and tsunami impacted several of our
customers, said Don Mitchell, FSI chairman and chief executive officer. As a result of product
order delays from several customers during the quarter and the customer requested delay of systems
that were scheduled to be shipped in the quarter, we will report orders and revenues below our
previously provided guidance.
Fiscal 2011 Third Quarter
Third quarter orders are expected to be approximately $27-$29 million which is below our prior
guidance that orders would approach $40 million.* The company continues to make progress under
several product evaluation programs and anticipates that it will close orders with these customers
in the second half of calendar 2011. *
Sales for the third quarter of fiscal 2011 are expected to be approximately $25-$27 million,
compared to our prior guidance that sales would exceed $30 million.* The third quarter sales
shortfall is primarily related to ORION® system acceptance timing.
ORION® System Acceptance
Todays acceptance of an ORION® single wafer processing system by a major semiconductor
foundry represents completion of the requirements of a conditional sales order that shipped in
September 2010. The ORION® system demonstrated its superior performance in nickel
platinum (NiPt) silicide processing for 40nm to 28nm front-end-of-line (FEOL) applications. Also,
this system will be used for FEOL post ash clean (PAC) and all-wet photoresist stripping
applications using the high temperature ViPRTM process. Under this program, FSI
successfully demonstrated the unique ability of the ORION® system to completely remove
unreacted nickel platinum (NiPt) (10%).
FSI management will review its third quarter financial results during a conference call scheduled
for June 21, 2011.
FSI International, Inc. is a global supplier of surface conditioning equipment, technology and
support services for microelectronics manufacturing. Using the companys broad portfolio of
cleaning products, which include batch and single-wafer platforms for immersion, spray, vapor and
cryogenic aerosol technologies, customers are able to achieve their process performance flexibility
and productivity goals. The companys support services programs provide product and process
enhancements to extend the life of installed FSI equipment, enabling worldwide customers to realize
a higher return on their capital investment. For more information, visit FSIs website at
http://www.fsi-intl.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995. This press
release contains certain forward-looking statements (*), including, but not limited to expected
orders, closing orders with customers currently evaluating the companys products and expected
third quarter revenues. Except for the historical information contained herein, the matters
discussed in this news release are forward-looking statements involving risks and uncertainties,
both known and unknown, that could cause actual results to differ materially from those in
such forward-looking statements. Such risks and uncertainties include, but are not limited to,
changes in industry conditions; order delays or cancellations; general economic conditions; changes
in customer capacity requirements and demand for microelectronics; the extent of demand for the
companys products and its ability to meet demand; global trade policies; worldwide economic and
political stability; the companys successful execution of internal performance plans; the cyclical
nature of the companys business; volatility of the market for certain products; performance issues
with key suppliers and subcontractors; the level of new orders; the timing and success of current
and future product and process development programs; the success of the companys direct
distribution organization; legal proceedings; the potential impairment of long-lived assets; and
the potential adverse financial impacts resulting from declines in the fair value and liquidity of
investments the company presently holds; the impact of natural disasters on parts and consumables
supply and demand for products; as well as other factors listed herein or from time to time in the
companys SEC reports, including our latest 10-K annual report. The company assumes no duty to
update the information in this press release.
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