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Article: SubMicron announces cost reduction plan in anticipation of lower than expected third quarter and year end 1996 results.
- Article from:
- Business Wire
- Article date:
- September 16, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ALLENTOWN, Pa.--(BUSINESS WIRE)--Sept. 16, 1996--SubMicron Systems Corporation (Nasdaq:SUBM) today announced that its results for the third quarter ending September 30, 1996, and the year ending December 31, 1996, will be significantly lower than analysts' expectations. The results of operations will be negatively impacted by shipment delays and low-gross margins. The Company decided to delay several third quarter shipments due to customer requested customization and the lack of time to properly test the completed units. In addition, certain shipments originally scheduled for the fourth quarter will be delayed, at customer request, until 1997. The deterioration of gross ...