Aviza Technology, Inc (fka AVZAQ)

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Aviza Technology Announces Fiscal Year 2008 Fourth Quarter and Year-End Financial Results

SCOTTS VALLEY, Calif., Nov 20, 2008 (BUSINESS WIRE) -- Aviza Technology, Inc. (NASDAQ:AVZA), a supplier of advanced semiconductor capital equipment and process technologies for the global semiconductor industry and related markets, today reported results for the fourth quarter and year-end of fiscal year 2008, which ended on September 26, 2008.
FISCAL YEAR 2008 FOURTH QUARTER FINANCIAL HIGHLIGHTS

-- Fourth quarter shipments were $35.5 million.

-- Fourth quarter net sales of $35.5 million were within the range of the Company's guidance of $35 million to $40 million for the quarter.

-- Fourth quarter gross margin improved to 36.5 percent from the third quarter.

-- Fourth quarter net loss was $3.1 million, or ($0.14) per share. Adjusted net income was $941,000, or $0.04 per share.

"We are pleased with our results for the fourth quarter, particularly our improvement in net sales and gross margin, which is the highest gross margin that the Company has achieved since becoming publicly traded," said Jerry Cutini, Aviza's president and chief executive officer. "It is a reflection of our ongoing efforts to sustain our financial performance in the face of an extremely challenging macroeconomic environment which is expected to continue well into 2009. We remain committed to focusing on our served market with single-wafer products."

FORECAST -- FISCAL 2009 FIRST QUARTER ENDING DECEMBER 26, 2008

Aviza's guidance for the first quarter of fiscal 2009 is predicated on the Company's continued focus on a shift in its product mix. Aviza expects that first quarter net sales will be in the range of $25 million to $32 million, with an adjusted net income of $50,000 to an adjusted net loss of $4 million.

NON-GAAP FINANCIAL MEASURES

Aviza uses non-GAAP financial measures that are not intended to be used in lieu of GAAP presentations, but are provided because we believe that they provide additional information with respect to the performance of our fundamental business activities and are also used by securities analysts, investors and other interested parties to evaluate our business on a comparable basis to other companies. The two non-GAAP financial measures that we use are (i) Adjusted Net Income (Loss) and (ii) Adjusted Net Income (Loss) Per Share. We believe that Adjusted Net Income (Loss) and Adjusted Net Income (Loss) Per Share provide investors with useful information about our operating results. We use Adjusted Net Income (Loss) and Adjusted Net Income (Loss) Per Share to review and assess our operating performance. Adjusted Net Income (Loss) and Adjusted Net Income (Loss) Per Share also allow us to compare our operating results with corresponding prior periods as well as with the operating results of other companies in our industry.

Adjusted Net Income (Loss) is a non-GAAP financial measure that represents GAAP Net Income (Loss) excluding the following items: stock-based compensation, amortization expense, depreciation expense, net interest expense, restructuring and other one-time charges, income taxes and net other (income) expense. As we have substantial net operating loss carryforwards, we have not included the impact of additional income tax provisions in this calculation. Adjusted Net Income (Loss) Per Share is a non-GAAP financial measure that represents Adjusted Net Income (as defined above) divided by weighted average number of shares outstanding for the period. A reconciliation of our Adjusted Net Income (Loss) to GAAP Net Income (Loss), the most directly comparable GAAP measure, is provided in the attached table.

Adjusted Net Income (Loss) and Adjusted Net Income (Loss) Per Share have limitations as analytical tools, and you should not consider them in isolation or as a substitute for net income (loss), earnings per share and other consolidated income statement data prepared in accordance with GAAP. We compensate for these limitations by relying primarily on our GAAP results and using Adjusted Net Income (Loss) and Adjusted Net Income (Loss) Per Share as supplemental information.

Unless otherwise specified, all references in this press release to financial information are prepared in accordance with accounting principals generally accepted in the United States.

CONFERENCE CALL INFORMATION

Aviza has scheduled a conference call today to discuss the Company's financial results for the fiscal 2008 fourth quarter and year-end. The call will be hosted by Jerry Cutini, president and chief executive officer, and Patrick O'Connor, executive vice president and chief financial officer.

Investors will have the opportunity to listen to the conference call over the Internet. To listen to the live web cast today at 4:30 p.m. EST / 1:30 p.m. PST, log on to the Aviza website at www.aviza.com. To access the live conference call today at 4:30 p.m. EST / 1:30 p.m. PST, dial 303-262-2125 or 800-218-8862.

A digital replay will be available on Aviza's website at www.aviza.com under "Calendar of Events" in the "Investors" section of the website two hours after the conclusion of the conference call.

A telephone replay will also be available two hours after the conclusion of the conference call from November 20 to November 23, 2008. You may access the telephone replay by dialing 303-590-3000 or 800-405-2236 and entering confirmation code 11121289#.

SAFE HARBOR STATEMENT

This press release contains forward-looking statements. These forward-looking statements are based on our management's current expectations and beliefs and involve numerous risks and uncertainties that could cause actual results to differ materially from expectations. You should not rely upon these forward-looking statements as predictions of future events because we cannot assure you that the events or circumstances reflected in these statements will be achieved or will occur. These forward-looking statements include, but are not limited to, the statements made by Jerry Cutini and all statements containing the words "believes," "expects," "forecast," "may," "will," "should," "seeks," "intends," "plans," "estimates" or "anticipates" or the negative of these words and phrases or other variations of these words and phrases or comparable terminology. Many factors could cause actual results to differ materially from those projected in these forward-looking statements, including, but not limited to: variability of our revenues and financial performance; risks associated with product development and technological changes; the acceptance of our products in the marketplace by existing and potential future customers; disruption of operations or increases in expenses due to our involvement in litigation or caused by civil or political unrest or other catastrophic events; general economic conditions and conditions in the semiconductor industry in particular; the continued employment of our key personnel and risks associated with competition. Some of these factors and other important factors are detailed in various Securities and Exchange Commission filings that we have made, particularly in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, copies of which are available from us without charge. Please review these filings and do not place undue reliance on these forward-looking statements. We assume no obligation to update these forward-looking statements.

ABOUT AVIZA TECHNOLOGY, INC.

Aviza Technology, Inc. designs, manufactures, sells and supports advanced semiconductor capital equipment and process technologies for the global semiconductor industry and related markets. The company's systems are used in a variety of segments of the semiconductor market, such as advanced silicon for memory devices, advanced 3-D packaging and power integrated circuits for communications. Aviza's common stock is publicly traded on the NASDAQ Global Market (NASDAQ GM: AVZA). Aviza is headquartered in Scotts Valley, Calif., with manufacturing, R&D, sales and customer support facilities located in the United Kingdom, Germany, France, Taiwan, China, Japan, Korea, Singapore and Malaysia. Additional information about the company can be found at http://www.aviza.com.