Ultratech, Inc. Honored With Ninth Safety Award From Workers'
Compensation Carriers
Award Recognizes Ultratech's Consistent Commitment to Employee Health and
Safety
SAN JOSE, Calif., Oct. 21 /PRNewswire-FirstCall/ -- Ultratech, Inc. (NASDAQ:UTEK), a leading supplier of lithography and laser-processing systems
used to manufacture semiconductors and nanotechnology devices, today received a
safety recognition award from its workers' compensation carriers, marking the
ninth time within the past 10 years the company has been cited for its
commitment to health and safety. The Everest National Insurance Company 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. This award
recognizes Ultratech's consistent commitment to its employees' welfare and
establishes the company's safety policies as an industry benchmark.
"Ultratech continues to uphold its reputation in the technology industry as one
of the safest companies to work for in Silicon Valley and throughout the United
States. Its value-driven culture and long-term commitment to health, safety
and overall employee well-being is reflected in all areas of the company's
operations. We are very proud to continue to partner with Ultratech on a
global scale to deliver superior workers' compensation results," stated Dan
Francis, chief operating officer, ABD Insurance and Financial Services,
Ultratech's insurance broker.
Ultratech Chairman and CEO Arthur W. Zafiropoulo noted, "From an overall
perspective, as our industry evolves and globalization increases, Ultratech is
even more conscientious about the well-being of all its employees. A critical
component of Ultratech's value system is the high priority we place on ensuring
employee safety. At Ultratech, we're continually looking at ways to raise the
bar to ensure that our employees work in the safest of environments. We take
pride in receiving this award for the ninth time and continuing to stand as an
example of an employer whose commitment to worker safety is never compromised." Today, global customers look at various aspects of how suppliers like Ultratech
function, to ensure that they are well prepared to deliver products and
services under any situation. These factors range from disaster-recovery
strategies for ensuring uninterrupted product availability to safety and health
programs that, when implemented, can reduce employee injuries. Ultratech's
continued level of efficiency results in lower workers' compensation claims and
premiums, and ultimately, lower costs.
"Safety is a 'value system' and an integral part of Ultratech's culture and
daily philosophy," noted Dave Ghosh, Ultratech's vice president of corporate
services. "The multiple awards are a testament to the effectiveness of the
company's required safety-training curriculum. While specifically designed to
equip employees with the skills to do their jobs in the safest, most efficient
manner possible, the program's success rate demonstrates Ultratech's long-term
commitment to the health and safety of its employees." Certain of the statements contained herein may be considered 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 lengthy and costly development cycles for
advanced lithography and laser-processing technologies and applications;
integration, development and associated expenses of the laser processing
operation; delays, deferrals and cancellations of orders by customers;
expiration of licensing arrangements, and the resulting adverse impact on
Ultratech's licensing revenues; high degree of industry competition; pricing
pressures and product discounts; changes in pricing by Ultratech, its
competitors or suppliers; intellectual property matters; cyclicality in the
semiconductor and nanotechnology industries; customer concentration; market
acceptance of new products and enhanced versions of Ultratech's existing
products; international sales; lengthy sales cycles, including the timing of
system installations and acceptances; changes to financial accounting
standards; timing of new product announcements and releases by Ultratech or its
competitors; ability to volume produce systems and meet customer requirements;
mix of products sold; rapid technological change and the importance of timely
product introductions; dependence on new product introductions and commercial
success of any new products; outcome of litigation; sole or limited sources of
supply; 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; ability and resulting costs to attract or retain sufficient
personnel to achieve Ultratech's targets for a particular period; dilutive
effect of employee stock option grants on net income per share, which is
largely dependent upon Ultratech achieving and maintaining profitability and
the market price of Ultratech's stock; effects of certain anti-takeover
provisions; future acquisitions; volatility of stock price; 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 Ultratech's
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, 2003 and its Quarterly Report on Form 10-Q filed for
the quarter ended July 3, 2004.
About Ultratech: Ultratech, Inc. designs, manufactures and markets
photolithography equipment used worldwide in the fabrication of semiconductor
and nanotechnology devices, and has expanded its technology scope in pioneering
laser processing technology for IC manufacturing. Founded in 1979, Ultratech
is a market leader in gold and solder bump lithography. Its products are
designed to substantially reduce the cost of ownership for manufacturers in the
electronics industry. The company's home page on the World Wide Web is located
at http://www.ultratech.com/. DATASOURCE: Ultratech, Inc.
CONTACT: Bruce R. Wright, Senior Vice President & CFO, or Laura Rebouche, Vice President, Investor Relations and Corporate Communications, , both of Ultratech, +1-408-321-8835, or fax, +1-408-577-3379; or Angie Kellen, Account Manager of MCA, +1-650-968-8900, or fax, +1-650-968-8990, or , for Ultratech Web site: http://www.ultratech.com/
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