SAN JOSE, Calif.--(BUSINESS WIRE)--Ultratech, Inc. (Nasdaq:UTEK), a leading supplier of lithography, laser-processing and inspection systems used to manufacture semiconductor devices and highbrightness LEDs (HB-LEDs), as well as atomic layer deposition (ALD) systems, today announced that, based on preliminary voting results provided by its proxy solicitor following the Company’s 2016 Annual Meeting of Stockholders, stockholders have voted to elect Dr. Paramesh Gopi, the director nominee put forth by Ultratech, as well as Dr. Ronald Black and Ms. Beatriz Infante, the director nominees put forth by Neuberger Berman. The Board will be comprised of seven directors and will also include: Arthur W. Zafiropoulo, Michael Child, Dennis R. Raney and Henri Richard.
Commenting on the results, Ultratech issued the following statement:
All of the directors on Ultratech’s Board are united in their commitment to enhancing value for Ultratech stockholders. The Ultratech Board and management team look forward to working collaboratively with Dr. Gopi, Dr. Black and Ms. Infante to build upon the Company’s positive momentum.
Ultratech thanks Rick Timmins, Nicholas Konidaris and Joel Gemunder for their many years of service to the Company. Their leadership, knowledge and expertise have contributed greatly to our success. We wish them well in the future.
In addition, Ultratech appreciates the consideration and support of our stockholders, as well as the many insights that have been offered to our Board and management team, throughout this process.
The preliminary results also indicated that stockholders approved the other proposals submitted at the Annual Meeting.
Final voting results will be filed on a Form 8-K once they are certified by the independent inspector of elections.
For more information, please visit Ultratech’s investor relations website at http://ir.ultratech.com.
Ultratech, Inc. (Nasdaq: UTEK) designs, builds and markets manufacturing systems for the global technology industry. Founded in 1979, Ultratech serves three core markets: front-end semiconductor, back-end semiconductor, and nanotechnology. The company is the leading supplier of lithography products for bump packaging of integrated circuits and high-brightness LEDs. Ultratech is also the market leader and pioneer of laser spike anneal technology for the production of advanced semiconductor devices. In addition, the company offers solutions leveraging its proprietary coherent gradient sensing (CGS) technology to the semiconductor wafer inspection market and provides atomic layer deposition (ALD) tools to leading research organizations, including academic and industrial institutions. Visit Ultratech online at: www.ultratech.com.
This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as “anticipates,” “expects,” “remains,” “thinks,” “intends,” “believes,” “estimates,” and similar expressions and include management's current expectation of its longer term prospects for success. These forward-looking statements are based on our current expectations, estimates, assumptions and projections about our business and industry, and the markets and customers we serve, and they are subject to numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate. Such risks and uncertainties include the timing and possible delays, deferrals and cancellations of orders by customers; quarterly revenue fluctuations; industry and sector cyclicality, instability and unpredictability; market demand for consumer devices utilizing semiconductors produced by our clients; our ability to manage costs; new product introductions, market acceptance of new products and enhanced versions of our existing products; reliability and technical acceptance of our products; our lengthy sales cycles, and the timing of system installations and acceptances; lengthy and costly development cycles for laser-processing and lithography technologies and applications; competition and consolidation in the markets we serve; improvements, including in cost and technical features, of competitors' products; rapid technological change; pricing pressures and product discounts; our ability to collect receivables; customer and product concentration and lack of product revenue diversification; inventory obsolescence; general economic, financial market and political conditions and other factors outside of our control; domestic and international tax policies; cybersecurity threats in the United States and globally that could impact our industry, customers, and technologies; and other factors described in our SEC reports including our Annual Report on Form 10-K filed for the year ended December 31, 2015 and our Quarterly Report on Form 10-Q filed for the quarterly period ended April 2, 2016. Due to these and other factors, the statements, historical results and percentage relationships set forth herein are not necessarily indicative of the results of operations for any future period. 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.