Zygo Reports Strong 3rd Quarter Earnings

Zygo Corporation, of Middlefield, announced its financial results for the third quarter of the current fiscal year on Thursday, May 5. 

President and Chief Executive Officer, Dr. Chris Koliopoulos, said revenues increased by 58 percent year-over-year, to $40.2 million.  This was an increase of 11 percent over the second quarter, marking the forth consecutive quarter of increases and an improved operating margin.

Net earnings during the quarter increased to $4.5 million, or $0.24 per share.

Chief Financial Officer John P. Jordan, who joined the management team in February, stated that operating margins continue to be above 45 percent for the third consecutive quarter, and at 46.9 percent was "the highest gross margin in almost ten years."  

Koliopoulos was excited about some new products being demonstrated at trade shows, "including the 'Z' guage, which was introduced at the Control exhibition in Germany," saying that it is new to the machine shop floor where measurement processes have been subject to vibrations and harsh industrial conditions," while adding that this new product should allow rapid surface measurements in high volume production environments. 

Koliopoulios continued, "early demonstrations have customers enthusiastic."This past week at another conference, Zygo planned to introduce the "Accuflat" interferometer system - a patented technology to measure "thin glass disks such as computer hard disks" using LED technology.  It also incorporates an extremely precise polishing measurement that provides feedback to the manufacturing process.

Zygo shares (NASDAQ symbol ZIGO) closed down $0.29  (-2.26%) at $12.52 as of 4:00 pm Tuesday May 17.