SOURCE: ICOS Vision Systems

February 21, 2008 05:44 ET

ICOS Vision Systems announces Q4 and year 2007 results.

HEVERLEE, BELGIUM--(Marketwire - February 21, 2008) -


ICOS Vision Systems Announces Fourth Quarter and Fiscal Year 2007 Results

ICOS Vision Systems decides to discontinue its share repurchase program

Leuven, Belgium - February 21, 2008 - ICOS Vision Systems Corporation NV (Euronext: IVIS), a leading supplier of inspection solutions for the semiconductor industry, today announced results for the fourth quarter and year ended December 31, 2007.

Revenues for the three months ended December 31, 2007 were 22.5 million Euro, representing a 12 % increase over the third quarter of 2007 revenues of 20.1 million Euro and a 4.5 % increase from the 21.5 million Euro reported in the fourth quarter of 2006. Income from operations for the fourth quarter of 2007 was 2.6 million Euro, compared to 1.7 million Euro and 0.1 million Euro reported for the third quarter of 2007 and fourth quarter of 2006, respectively. Net income for the fourth quarter of 2007 was 2.8 million Euro, or 27 Eurocents per share.

Revenues for the year 2007 were 80.0 million Euro compared to 105.6 million Euro in 2006. Operating profit in 2007 was 5.6 million Euro compared to 22.3 million Euro in 2006. Net income for 2007 was 8.0 million Euro, or 79 Eurocents per share, compared to a net income of 20.1 million Euro, or 1.91 Euro per share, in 2006.

"During the fourth quarter, revenues grew as expected, with all three product lines contributing to sequential growth," commented Anton De Proft, ICOS' president and chief executive officer. "We continued to invest heavily in future products this year, with R&D spending at 19% of revenues in 2007. This investment will enable ICOS to stay ahead of the curve as end-market applications for inspection solutions continue to evolve and our customers' requirements become increasingly complex."

In view of the voluntary public bid on its shares announced earlier today, the Board of Directors also decided to discontinue the share repurchase program, with immediate effect.


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.

ICOS Vision Systems NV can be found on www.icos.be

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 announces Q4 and year 2007 results: http://hugin.info/134091/R/1193942/241677.pdf


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