Middlefield technology maker Zygo Corp. sustained lower fiscal first-quarter sales and net profits, whipsawed by the global slump in semiconductor demand.
For three months ended Sept. 30, Zygo netted $2.4 million, or 13 cents a diluted share, down from $6.5 million, or 35 cents a share, netted the same quarter a year earlier.
First-quarter revenue dropped to $40.2 million vs. $44 million last year.
Company officers said but for Zygo’s varied product line and customer base, and its pursuit of a foothold in stronger markets abroad, the fiscal toll might have been greater.
Zygo makes precision opticals and measuring systems, many of which are used by microchip- and other capital-goods makers planetwide who have encountered strong headwinds from uneven economies in the U.S. and Europe.
In a positive sign for the future, Zygo ended the quarter with order backlog of $65.1 million vs. $60.9 million at Sept. 30, 2011.
