SAN JOSE, Calif., July 19, 2012 /PRNewswire/ -- Ultratech, Inc. (Nasdaq: UTEK), a leading supplier of lithography and laser-processing systems used to manufacture semiconductor devices and high-brightness LEDs (HB-LEDs), recently received a safety recognition award from its workers' compensation carrier marking the 13th time that the company has been cited for its exemplary health and safety record. The Travelers Insurance Companies, Inc. and Wells Fargo Insurance Services' award acknowledges companies that incorporate safety as part of their "value system" within the companies' corporate culture. Ultratech's ongoing, company-wide commitment to its employees' welfare further reinforces its safety policies as an industry benchmark.
Anthony Smith, Western Zone Vice President, Travelers Global Technology, stated, "As one of the first global insurers to specialize in providing workers' compensation coverage for technology companies, Travelers recognized 26 years ago that the leaders in Silicon Valley protect their workers as a matter of their company culture. No one exemplifies this dynamic better than Ultratech! We are proud to be Ultratech's partner and are committed to do our part in supporting every one of its employees in maintaining a safe and prosperous work environment."
"Ultratech's commitment to safety and overall employee well-being is part of its value-driven culture and is reflected in all areas of its organization. With the receipt of its 13th safety award, Ultratech has continued to be an industry leader in safety policies who enjoys being one of the safest companies to work for in Silicon Valley and the world. We value our partnership with Ultratech and plan to continue to deliver superior results on a global scale," stated Rich Lane, Regional Managing Director, Wells Fargo Insurance Services USA, Inc.
"Our company can be proud of a continuing culture of safety that is built into everything that we do," noted Art Zafiropoulo, Ultratech's Chairman and CEO. "Over the past several years, Ultratech has focused on continuous improvements to an already enviable safety record that makes it second to none in our industry. The congratulations for these results belong squarely with the employees who work so conscientiously in making safety synonymous with quality."
"Our industry has faced many challenges over the years, but we have never let these get in the way of our building and maintaining a strong safety program throughout our worldwide operations," explained Dave Ghosh, Ultratech's Vice President of Human Resources and Corporate Services. "Our success is due both to the strength of our safety systems and the leadership of our managers and workforce that focus on making safety at Ultratech a top priority. Not only are we rewarded with a safe working environment, but we also realize important savings in the cost of doing business and with excellent insurance rates."
Certain of the statements contained herein, which are not historical facts and which can generally be identified by words such as "anticipates," "expects," "thinks," "intends," "will," "could," "believes," "poised," "estimates," "continues," 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 to timing, delays, deferrals and cancellations of orders by customers, including as a result of semiconductor manufacturing capacity as well as our customers' financial condition and demand for semiconductors; demand for consumer devices; industry growth within the company's served markets; continued delivery of financial performance and value; cyclicality in the semiconductor and nanotechnology industries; 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; general economic and financial market conditions including impact on capital spending, as well as difficulty in predicting changes in such conditions; rapid technological change and the importance of timely product introductions; customer concentration; pricing pressures and product discounts; high degree of industry competition; intellectual property matters; changes in pricing by us, our competitors or suppliers; international sales and operations; 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; effect of capital market fluctuations on our investment portfolio; ability and resulting costs to attract or retain key personnel; dilutive effect of employee stock option grants on net income per share, which is largely dependent upon our achieving and maintaining profitability and the market price of our stock; mix of products sold; 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; changes to financial accounting standards; effects of certain anti-takeover provisions; 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, 2011 and our quarterly report on Form 10-Q for the quarter ended March 31, 2012. 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, the company's market-leading advanced lithography products deliver high throughput and production yields at a low, overall cost of ownership for bump packaging of integrated circuits and high-brightness LEDs (HB-LEDs). A pioneer of laser processing, Ultratech developed laser spike anneal technology, which increases device yield, improves transistor performance and enables the progression of Moore's Law for 32-nm and below production of state-of-the-art consumer electronics. Visit Ultratech online at: www.ultratech.com.
SOURCE Ultratech, Inc.