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FSI International, Inc. (Minneapolis, MN), a manufacturer of capital equipment for the microelectronics industry, reported financial results for the fiscal 2001 first quarter ended Nov. 25, 2000. Sales for the fiscal 2001 first quarter increased 128%, to $70.4 million, compared to $30.9 million for the same period of fiscal 2000. The company's net income for the first quarter of fiscal 2001 was $7.7 million or $0.29 per share (diluted), compared to a net loss of $10.6 million or $0.44 per share (diluted) in the fiscal 2000 first quarter.

In the first quarter of fiscal 2000, FSI recorded an in-process research and development write-off of $6.4 million or $0.27 per share (diluted) and a gain of approximately $5.4 million or $0.23 per share (diluted) on the sale of Metron Technology stock. Also in the first quarter of fiscal 2000, the company recorded a $400,000 loss or $0.01 per share (diluted) from the sale of discontinued operations. Additionally, the company has over $268 million in assets, including approximately $39.5 million in cash, cash equivalents, and marketable securities. Also, at the end of the first quarter, the Company had a current ratio of 2.8 to 1.0.

FSI develops, manufactures, markets, and supports products used in the technology areas of surface conditioning, microlithography, and low-k spin-on dielectrics. Additional information on the company can be obtained by accessing its homepage at www.fsi-intl.com.

Edited by Brian Hegarty
Assistant Editor, Semiconductor Online

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