SOURCE: ICOS Vision Systems

October 25, 2007 01:45 ET

ICOS Vision Systems reports Q3-2007 results.

HEVERLEE, BELGIUM--(Marketwire - October 25, 2007) -


Leuven, Belgium - October 25, 2007 - ICOS Vision Systems Corporation NV (Euronext: IVIS), a world leader in vision solutions, today announced its unaudited financial results for the third quarter ended September 30, 2007.

Revenues for the three months ended September 30, 2007 were EUR 20.1 million, representing an increase of approximately 9.7 % over second quarter revenues of EUR 18.3 million, and a decrease of 3.9% compared to the EUR 20.9 million reported for the third quarter of 2006. Income from operations for the third quarter of 2007 was EUR 1.7 million, compared to an operating income of EUR 0.7 million in the second quarter of 2007 and EUR 2.9 million reported for the third quarter of 2006. Net income for the third quarter of 2007 was EUR 2.6 million, or 26 Eurocents per share, compared to net income of EUR 1.1 million, or 11 Eurocents per share, for the second quarter of 2007 and to net income of EUR 2.9 million, or 28 Eurocents per share, for the third quarter of 2006.

Revenues for the nine months ended September 30, 2007 were EUR 57.5 million, representing a decrease of 31.6 % over EUR 84.0 million for the same period in 2006. Income from operations for the first nine months of 2007 was EUR 3.0 million compared to EUR 22.1 million for the same period last year. Net income for the first nine months of 2007 was EUR 5.3 million, or 51 Eurocents per share, compared to net income of EUR 18.7 million, or EUR 1.77 per share, for the first nine months of 2006.

"Third quarter's sequential revenue growth of almost 10% came in at the high end of our forecast, driven by higher demand for our Component Inspector products, which, as anticipated, benefited from the market recovery ," commented Anton De Proft, ICOS' president and chief executive officer. "As a result, the leverage inherent in our business model translated into higher margins and net income growth."

"Looking ahead, we expect all product lines to contribute to sequential revenue growth with a large proportion of incremental revenues coming from our Wafer Inspector product line as we are beginning to reap the benefits of the market share gains we have achieved over the last twelve months. Higher demand for Wafer Inspectors, coupled with growth in our solar cell products and continued market recovery should enable us to produce sequential revenue growth between 10 and 20%".

ICOS designs and manufactures inspection equipment for semiconductor packaging and interconnect applications. It is a world-leading supplier of equipment for the visual inspection of IC's, before they are used in various applications such as PC's, portable phones or cars. ICOS' systems perform two- and three-dimensional (2D and 3D) inspection of IC's, wafers, solar cells, substrates, sockets, etc. ICOS offers stand-alone inspection systems, as well as inspection modules for integration. ICOS is headquartered in Leuven, Belgium and has R&D centers in Belgium, Germany and Hong Kong, sales and support offices in Japan, the USA, Singapore, Hong Kong, Korea and Taiwan and production facilities in Belgium, Hong Kong and China.

Forward Looking Statements

This press release contains forward-looking statements with respect to the business, financial condition, and results of operations of ICOS Vision Systems Corporation NV and its affiliated companies (hereafter ' ICOS'). These statements are based on the current expectations or beliefs of ICOS' management and are subject to a number of risks and uncertainties that could cause actual results or performance to differ materially from those contemplated in such forward-looking statements. These risks and uncertainties relate to changes in technology and market requirements, the cyclicality of the markets in which it is active , decline in demand for the company's products , inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. Some of these risk factors were highlighted in the Consolidated and Statutory Report 2006 of the Board of Directors which can be found in the Annual Report 2006 page 51-54. ICOS undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

ICOS Vision Systems Corporation NV can be found on the World Wide Web at www.icos.be

Tables enclosed in PDF

ICOS Vision Systems reports Q3-2007 results: http://hugin.info/134091/R/1162570/226093.pdf

Contact:

ICOS Vision Systems Corporation NV   Lippert/Heilshorn & Associates, Inc.
Tel: 32 16 398 295                   212-838-3777
Investor.relations@icos.be           jburfening@lhai.com


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