SOURCE: Varian Semiconductor

June 11, 2007 10:45 ET

Varian Semiconductor Named #14 on List of 100 Fastest-Growing Technology Companies

GLOUCESTER, MA--(Marketwire - June 11, 2007) - Varian Semiconductor Equipment Associates, Inc. (NASDAQ: VSEA) today announced that it has ranked #14 on Business 2.0 magazine's list of the Top 100 Fastest-Growing Technology Companies in America for 2006. The list, abbreviated as the B2 100, appears in Business 2.0's June 2007 issue.

Varian Semiconductor's sales and profits have grown by 109 percent and 758 percent, respectively, over the last three years (2003-2006). The Company's stock price has increased nearly 250 percent since 2003.

"We are extremely proud to be recognized by Business 2.0 for our business growth," said Gary Dickerson, CEO of Varian Semiconductor. "Our employees are dedicated to anticipating semiconductor manufacturers' future requirements and delivering to them high quality products. Our VIISta platform of products has the design flexibility to allow us to more rapidly, and cost-effectively, develop products for those requirements."

To select the B2 100, the magazine screened more than 2,000 technology companies that have been publicly traded on a U.S. stock exchange for at least three years, have a market capitalization of at least $50 million, and have had positive operating cash flow over the past 12 months. Zacks Investment Research of Chicago ranked the resulting list using four financial criteria: growth in revenue, profit, and operating cash flow during the past three years, and the 12-month stock return as of Dec. 31, 2006. Cash flow growth counts for 40 percent of a company's ranking. Each of the other criteria counts for 20 percent. Additional research was provided by FactSet.

About Varian Semiconductor

Varian Semiconductor Equipment Associates is the leading supplier of ion implant equipment to semiconductor manufacturers, enabling them to pack more, higher performing transistors into computer chips that are revolutionizing the electronics industry. Varian Semiconductor's products are used by chip manufacturers worldwide to produce high-performance semiconductor devices. Customers have made Varian Semiconductor the market leader in ion implant because of its architecturally superior products that lower their costs and improve their productivity. The Company has ranked #1 in the VLSI Research Customer Satisfaction Survey nine times over the last 10 years. Varian Semiconductor operates globally and is headquartered in Gloucester, Massachusetts. More information can be found on Varian Semiconductor's web site at www.vsea.com.

About Business 2.0

Business 2.0 explores the new ways smart companies -- and the people who lead them -- are using strategy, technology and innovation to succeed. The magazine is published by the FORTUNE Group at Time, Inc., a Time Warner Company. For more information, visit www.business2.com.

Note: This release contains forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. For this purpose, the statements concerning the Company's performance, market share and technology leadership, technological capabilities and benefits and growth are forward-looking statements and any statements using the terms "believes," "anticipates," "expects," "plans," or similar expressions are forward-looking statements. There are a number of important risks and factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These include, among others, volatility in the semiconductor equipment industry; economic conditions in general and as they affect the Company's customers; significant fluctuations in the Company's quarterly operating results; the impact of rapid technological change; the Company's dependence on the development and introduction of new products; the Company's concentration on ion implantation systems and related products; concentration in the Company's customer base and lengthy sales cycles; the highly competitive market in which the Company competes; the risks associated with international sales; foreign currency risks; and general economic conditions; and other factors identified in the Company's Annual Report on Form 10-K, and the most recent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. The Company cannot guarantee any future results, levels of activity, performance or achievement. The Company undertakes no obligation to update any of the forward-looking statements after the date of this press release.

Contact Information

  • Contacts:
    Bob Halliday
    Executive Vice President
    Chief Financial Officer
    978.282.7597

    Mary Wright
    Director, Investor Relations
    978.282.5859

    Tom Baker
    VP, Finance
    978-282-2301