-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TiLzes3dZ4kPdZNpulBNMotC7F0LWfRquhFnz24HTnEWv0E21BI3xXfi+C0f0MGh b7MbMx02N68Z3AEbmtylUQ== 0001015402-03-001455.txt : 20030428 0001015402-03-001455.hdr.sgml : 20030428 20030428172409 ACCESSION NUMBER: 0001015402-03-001455 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030428 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030428 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENUS INC CENTRAL INDEX KEY: 0000837913 STANDARD INDUSTRIAL CLASSIFICATION: SPECIAL INDUSTRY MACHINERY, NEC [3559] IRS NUMBER: 942790804 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-17139 FILM NUMBER: 03667449 BUSINESS ADDRESS: STREET 1: 1139 KARLSTAD DRIVE CITY: SUNNYVALE STATE: CA ZIP: 94089-2117 BUSINESS PHONE: 4087477120 MAIL ADDRESS: STREET 1: 1139 KARLSTAD DRIVE CITY: SUNNYVALE STATE: CA ZIP: 94089-2117 8-K 1 doc1.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 April 28, 2003 ----------------------------------------------------------- (Date of Report) GENUS, INC. ---------------------------------------------------------- (Exact name of registrant as specified in its charter) California 000-17139 94-2790804 - ---------------------------- ------------ ------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 1139 Karlstad Drive Sunnyvale, CA 94089 - --------------------------------------------------------- ------------- (Address of principal executive offices) Zip Code) Registrant's telephone number, including area code: (408) 747-7120 ------------- N/A ------------------------------------------------------------- (Former name or former address, if changed since last report) Item 7. Financial Statements and Exhibits. (c) Exhibits EXHIBIT NO. DESCRIPTION ------------ ----------- Exhibit 99 Press Release issued by Genus, Inc. on April 28, 2003 Item 9. Regulation FD Disclosure. In accordance with SEC Release No. 33-8216, the following information, intended to be furnished under "Item 12. Results of Operations and Financial Condition," is instead furnished under "Item 9. Regulation FD Disclosure." On April 28, 2003, Genus, Inc. issued a press release announcing financial results for its first fiscal quarter. The press release is attached as Exhibit 99 to this Form 8-K. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 28, 2003 GENUS, INC. By: /s/ Shum Mukherjee ----------------------------- Shum Mukherjee Chief Financial Officer EXHIBIT INDEX EXHIBIT NO. DESCRIPTION - ------------ ----------- Exhibit 99 Press Release issued by Genus, Inc. on April 28, 2003 EX-99 3 doc2.txt EXHIBIT 99 GENUS REPORTS FIRST QUARTER 2003 RESULTS - COMPANY POSTS PROFIT OF $400,000, AND EPS OF $0.01 - SUNNYVALE, CALIF. - APRIL 28, 2003 - Genus, Inc. (Nasdaq: GGNS) today reported financial results for its first quarter ended March 31, 2003. Senior management will conduct an investor conference call to discuss these results and the company's financial outlook in more detail at 8.00 a.m. pacific time tomorrow, Tuesday, April 29, 2003. Access information is provided below. Net sales for the first quarter of 2003 were $17.7 million compared to net sales of $9.6 million for the same quarter of 2002, and up sequentially from $11.3 million in the fourth quarter 2002. The net income for the first quarter 2003 was $0.4 million or $0.01 per diluted share compared to net loss of $3.8 million or ($0.15) per share in the same quarter of 2002. "As we move further into 2003, Genus' ALD products continue to gain acceptance in the equipment marketplace," said Bill Elder, Genus' chairman and CEO. "During the first quarter of 2003, Genus saw a significant increase in revenue sequentially and compared with the previous year, allowing us to record a profitable quarter. We executed well on greater than expected shipments, and shipped our first 200/300 mm ALD bridge tool to a Korean IC manufacturer." Elder continued, "In addition, the recently announced settlement in the patent litigation with ASM International has validated the strength of our ALD technology. In the settlement, Genus obtained royalty-free license to each of the patents in dispute. The finality of this litigation will allow us to focus on further penetration of the equipment market with Genus' ALD products and gaining new customer orders for volume production in 2003." Gross margin as a percentage of revenues was 35% in the first quarter of 2003 compared to 22% in the first quarter of 2002 reflecting higher volumes and increased manufacturing efficiencies. Operating expenses, including research and development and sales, general and administrative expenses were $5.3 million in the first quarter of 2003, approximately $0.3 million below the level recorded in the first quarter of 2002. Genus ended the first quarter 2003 with cash and cash equivalents of $12.5 million up from $11.5 million as of December 31, 2002. FINANCIAL GUIDANCE Genus expects full year 2003 bookings to be in the range of $60 million to $70 million, and full year revenues to be in the range of $50 million to $60 million. "Genus is well positioned globally with ALD customers in the Semiconductor and Data Storage markets in the U.S., Asia and Europe, and we maintain our expectation that the worldwide demand for ALD products will increase in 2003 over the previous year." Elder concluded. - more - CONFERENCE CALL INFORMATION Genus plans to host an investor conference call on Tuesday, April 29, 2003, at 11:00 a.m. eastern time, featuring remarks by Bill Elder, chairman and chief executive officer, and Shum Mukherjee, executive vice president finance, followed by a live question and answer session. The call will be accessible live by dialing 888-803-6692. The conference call will also be broadcast live over the Internet at www.genus.com. A replay of the call will be available for 48 hours, beginning - ------------- two hours after the call, by dialing 800-642-1687 and entering access code 9730613. A webcast replay will be available at www.genus.com. ------------- ABOUT GENUS Genus, Inc. manufactures critical deposition processing products for the global semiconductor industry and the data storage industry. To enable the production of intricate micro computer chips and electronic storage devices, Genus offers its LYNX series production-proven equipment for 200mm and 300mm semiconductor production, and offers thin film deposition products for chemical vapor deposition (CVD), atomic layer deposition (ALD), and pre-clean capabilities. Genus is at the forefront of market and technology developments in the ALD marketplace, which is gaining acceptance worldwide as a critical technology for sub 0.13-micron production of computer chips and electronic storage devices. Genus' customers include semiconductor manufacturers located throughout the United States, Europe and the Pacific Rim including Korea, Japan and Taiwan. Founded in 1981, the company is headquartered in Sunnyvale, California. For additional information visit Genus' web site at www.genus.com. LYNX2(R) and ------------- LYNX3(TM) are trademarks of Genus, Inc. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements regarding the company's future financial and business performance. These forward-looking statements are subject to a number of risks and uncertainties. These contingencies include but are not limited to: actual customer orders received by the company, the extent to which ALD technology is demanded by the marketplace, the actual number of customer orders received by the company, the timing of final acceptance of products by customers, the financial climate and accessibility to financing, general conditions in the thin film equipment market and in the macro-economy, and the influence of global political events. Genus assumes no obligation to update this information. Additional risks and uncertainties are discussed in the Management's Discussion and Analysis of Results of Operations contained in Genus' Annual Report on Form 10-K for the fiscal year ended December 31, 2002 filed with the Securities and Exchange Commission. COMPANY CONTACT: AGENCY CONTACT: Shum Mukherjee Lillian Armstrong/Moriah Shilton Genus, Inc. Lippert / Heilshorn & Associates Tel: (408) 747-7120 Ext. 1311 Tel: (415) 433-3777 Ext. 114 Email: smukherjee@genus.com Email: moriah@lhai-sf.com -------------------- ------------------ - Tables to Follow - 2
GENUS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (IN THOUSANDS, EXCEPT PER SHARE DATA) THREE MONTHS ENDED MARCH 31, 2003 2002 ------------ ---------- Net sales $ 17,695 $ 9,591 Costs and expenses: Cost of goods sold. . . . . . . . . . . . . . 11,577 7,467 Research and development. . . . . . . . . . . 2,113 2,185 Selling, general and administrative . . . . . 3,174 3,436 ------------ ---------- Income (loss) from operations . . . . . . . . . 831 (3,497) Other expenses, net . . . . . . . . . . . . . . (423) (255) ------------ ---------- Income (loss) before income taxes 408 (3,752) Provision for income taxes . . . . . . . . . . - - ------------ ---------- Net income/(loss) $ 408 $ (3,752) ============ ========== Net income (loss) per share: Basic . . . . . . . . . . . . . . . . . . . . $ 0.01 $ (0.15) Diluted . . . . . . . . . . . . . . . . . . . $ 0.01 $ (0.15) Shares used in per share calculation - basic. . 28,913 25,249 ============ ========== Shares used in per share calculation - diluted. 30,532 25,249 ============ ==========
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GENUS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (IN THOUSANDS) MARCH 31, DECEMBER 31, 2003 2002 ----------- -------------- ASSETS Current Assets: Cash and cash equivalents . . . . . . . . . . . . . $ 12,483 $ 11,546 Accounts receivable (net of allowance for doubtful accounts of $69 in 2003 and $69 in 2002). . . . . 14,050 7,505 Inventories . . . . . . . . . . . . . . . . . . . . 12,766 11,405 Other current assets. . . . . . . . . . . . . . . . 1,442 1,336 ----------- -------------- Total current assets. . . . . . . . . . . . . . . 40,741 31,792 Equipment, furniture and fixtures, net 8,853 8,661 Other assets . . . . . . . . . . . . . . . . . . . . 1,238 1,057 ----------- -------------- Total assets. . . . . . . . . . . . . . . . . . . $ 50,832 $ 41,510 =========== ============== LIABILITIES Current Liabilities: Short-term bank borrowings. . . . . . . . . . . . . $ 10,074 $ 7,813 Accounts payable. . . . . . . . . . . . . . . . . . 7,109 6,498 Accrued expenses. . . . . . . . . . . . . . . . . . 3,974 3,064 Deferred revenue. . . . . . . . . . . . . . . . . . 8,099 2,713 Customer advances . . . . . . . . . . . . . . . . . 1,151 1,809 Long term liabilities, current portion. . . . . 253 245 ----------- -------------- Total current liabilities. . . . . . . . . . 30,660 22,142 Convertible notes . . . . . . . . . . . . . . . . . . 5,451 5,301 Long-term liabilities . . . . . . . . . . . . . . . . 183 270 ----------- -------------- Total liabilities . . . . . . . . . . . . . . . . 36,294 27,713 ----------- -------------- SHAREHOLDERS' EQUITY Common stock, no par value: Authorized 50,000 shares; Issued and outstanding 28,945 shares in 2003 and 28,621 in 2002 . . . . . . . . . . . . . 124,335 123,890 Accumulated deficit . . . . . . . . . . . . . . . . (107,401) (107,809) Note receivable from shareholder. . . . . . . . . . (151) (151) Accumulated other comprehensive loss. . . . . . . . (2,245) (2,133) ----------- -------------- Total shareholders' equity. . . . . . . . . . . . 14,538 13,797 ----------- -------------- Total liabilities and shareholders' equity. . . . $ 50,832 $ 41,510 =========== ==============
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