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ADE Corporation Reports First Quarter Fiscal 2007 Financial Results.

Publication: Business Wire
Publication Date: 08-SEP-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
WESTWOOD, Mass. -- ADE Corporation (NasdaqGM: ADEX) today reported financial results for its first fiscal quarter ended July 31, 2006.

Revenue for the first quarter of fiscal 2007 was $29.7 million compared with $29.3 million for the fourth quarter of fiscal 2006 and $24.3 million for the first quarter of fiscal 2006.

ADE posted net income of $3.9 million, or $0.27 per diluted share, for the first quarter of fiscal 2007. First fiscal quarter net income included stock-based compensation expense related to FAS 123R of $0.2 million and certain expenses totaling $0.5 million associated with ADE's pending merger with KLA-Tencor Corporation (NasdaqGS: KLAC). This compares with net income of $4.7 million, or $0.32 per diluted share, in the fourth quarter of fiscal 2006. The fourth quarter fiscal 2006 net income figure included a tax benefit of approximately $980,000 related to 2005 tax deductions. For the first quarter of fiscal 2006, ADE reported net income of $2.9 million, or $0.20 per diluted share.

The first quarter fiscal 2007 tax rate was 36% compared with...

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