Award recognizes Ultratech's consistent commitment to employee health and safety
SAN JOSE, Calif., Oct. 18 /PRNewswire-FirstCall/ -- Ultratech, Inc. (NASDAQ:UTEK), a leading supplier of lithography and laser-processing systems used to manufacture semiconductor devices, today received a safety recognition award from its workers' compensation carrier, marking the 10th time within the past 13 years that the company has been cited for its commitment to health and safety. Zurich in North America and ABD Insurance and Financial Services' award acknowledges those companies that make safety a "value system" within their corporate culture through enhanced awareness and execution at all levels of the organization. The recurring receipt of this award acknowledges Ultratech's consistent commitment to its employees' welfare and establishes the company's safety policies as an industry benchmark.
"Congratulations to Ultratech on their outstanding safety record," said David Rutkowski, senior vice president, Zurich. "Safety and a solid risk engineering program go hand in hand. As their insurance carrier, Zurich is proud to work closely with Ultratech in their safety efforts. We look forward to helping them drive even better results in the future." "Ultratech's long-term commitment to health, safety and overall employee well-being is part of its value-driven culture and is reflected in all areas of the company's operations. With the receipt of its 10th safety award, Ultratech has established its safety policies as an industry benchmark and continues to be one of the safest companies to work for in Silicon Valley and worldwide. We value our partnership with Ultratech and plan to continue to deliver superior workers' compensation results on a global scale," stated President and CEO Samuel L. Jones of ABD Insurance and Financial Services, Ultratech's insurance broker.
Ultratech Chairman and CEO Arthur W. Zafiropoulo noted, "As our industry evolves and companies become increasingly more global, Ultratech is even more conscientious about the well-being of its employees. We continually strive to raise the bar to ensure that our employees work in the safest of environments. A critical component of Ultratech's value system is the high priority we place on ensuring employee safety. We take pride in receiving this award for the 10th time and will continue to serve as an example of an employer whose commitment to worker safety is never compromised." "Safety is an integral part of Ultratech's culture and daily philosophy," noted Dave Ghosh, Ultratech's vice president of Corporate Services. "Over the past several years Ultratech has experienced a continuous decline in the number of accidents. Numerous safety awards reflect the efforts of our safety committee and the effectiveness of the company's required safety training curriculum, which is specifically designed to equip employees with the skills to do their jobs in a safe and efficient manner. Ultratech's continued level of efficiency results in lower workers' compensation claims and ultimately, lower costs." Certain of the statements contained herein, which are not historical facts and which can generally be identified by words such as "anticipates," "expects," "intends," "will," "could," "believes," "estimates," "continue," and similar expressions, are forward-looking statements under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties, such as risks related our dependence on new product introductions and market acceptance of new products and enhanced versions of our existing products; lengthy sales cycles, including the timing of system installations and acceptances; lengthy and costly development cycles for laser-processing and lithography technologies and applications; integration, development and associated expenses of the laser processing operation; delays, deferrals and cancellations of orders by customers; cyclicality in the semiconductor and nanotechnology industries; pricing pressures and product discounts; high degree of industry competition; intellectual property matters; expiration of licensing arrangements, and the resulting adverse impact on our licensing revenues; changes to financial accounting standards; changes in pricing by us, our competitors or suppliers; customer concentration; international sales; timing of new product announcements and releases by us or our competitors; ability to volume produce systems and meet customer requirements; sole or limited sources of supply; ability and resulting costs to attract or retain sufficient personnel to achieve our targets for a particular period; dilutive effect of employee stock option grants on net income per share, which is largely dependent upon us achieving and maintaining profitability and the market price of our stock; mix of products sold; rapid technological change and the importance of timely product introductions; outcome of litigation; manufacturing variances and production levels; timing and degree of success of technologies licensed to outside parties; product concentration and lack of product revenue diversification; inventory obsolescence; asset impairment; effects of certain anti-takeover provisions; announced and future acquisitions; volatility of stock price; foreign government regulations and restrictions; business interruptions due to natural disasters or utility failures; environmental regulations; and any adverse effects of terrorist attacks in the United States or elsewhere, or government responses thereto, or military actions in Iraq, Afghanistan and elsewhere, on the economy, in general, or on our business in particular. Such risks and uncertainties are described in Ultratech's SEC reports including its Annual Report on Form 10-K filed for the year ended December 31, 2006 as amended and Quarterly Report on Form 10Q for the quarter ended June 30, 2007. Due to these and additional factors, the statements, historical results and percentage relationships set forth herein are not necessarily indicative of the results of operations for any future period. These forward-looking statements are based on management's current beliefs and expectations, some or all of which may prove to be inaccurate, and which may change. We undertake no obligation to revise or update any forward-looking statements to reflect any event or circumstance that may arise after the date of this release.
About Ultratech: Ultratech, Inc. (NASDAQ:UTEK) designs, manufactures and markets photolithography and laser processing equipment. Founded in 1979, Ultratech is a market leader in gold and solder bump lithography, in addition to being a pioneer of laser processing. Its advanced-packaging lithography systems deliver strong cost-of-ownership, repeatability and throughput advantages, and are used worldwide in the fabrication of semiconductors and FPDs. Ultratech's advanced laser processing technology enhances yields, while enabling a cost-effective transfer to 65-nm and below production, and is being integrated into the manufacturing lines of leading-edge semiconductor manufacturers. Ultratech's home page on the World Wide Web is located at: http://www.ultratech.com/.
(UTEK-G) DATASOURCE: Ultratech, Inc.
CONTACT: Angie Kellen, Account Director of MCA, +1-650-968-8900, fax, +1-650-968-8990, , for Ultratech, Inc.; or Bruce R. Wright, Senior Vice President & CFO, or Laura Rebouche, Vice President, Investor Relations, Corporate and Marketing Communications, +1-408-321-8835, fax, +1-408-577-3379, Web site: http://www.ultratech.com/
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