Zygo Reports Q2 Revenues Up 11% Over Prior Year
MIDDLEFIELD, CT-- Zygo Corp. announced its financial results for the second quarter of fiscal 2012 ended on December 31, 2011 and points out the following highlights in its results:
Q2 FY2012 revenues increased 11% over the prior year quarter. First half fiscal 2012 revenues of $84 million increased 25% over prior year first half.
Q2 bookings of $48.8 million increased $2.4 million, or 5%, over the prior year quarter bookings, which included $7.1 million of backlog associated with the acquisition in November 2010. Excluding that backlog, bookings increased $9.5 million, or 24% over the prior year bookings.
Backlog of nearly $70 million is at highest level in three years. -- EPS of $0.33 per diluted share increased by $0.12, or 57%, over the prior year quarter, excluding prior year gain on acquisition of $0.11.
Gross margin exceeded 49% for the second consecutive quarter, maintaining a 10-year-high level.
Seventh consecutive quarter of operating margin increase -- at 18.6%, the highest operating margin in twelve years.
Operating cash flow of more than $24 million for the first half of fiscal 2012 increased cash and marketable securities to more than $83 million at December 31, 2011.
Won a prestigious contract valued in excess of $9 million with the College of Nanoscale Science and Engineering (CNSE) of the University at Albany and the SEMATECH consortium of chipmakers, and a $4 million order from a major medical device manufacturer for high precision assemblies.