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Therma-Wave sees strong 1Q

Therma-Wave, Inc., (Nasdaq:TWAV) rose 16 percent Tuesday after it reported record orders of $61.9 million and pre-announced revenues of $41.6 million for the first quarter of fiscal 2001.

Shares in the company, which makes metrology systems that detect flaws during semiconductor production, were up 3 9/16 to 25 11/16.

Revenues for the quarter totaled $41.6 million, and were up 97 percent from $21.1 million in the year-ago quarterand more than 13 percent from $36.6 million the previous quarter.

Therma-Wave's book-to-bill ratio was 1.49 for the quarter. Orders increased by 142 percent from $25.6 million for the same quarter a year ago and increased by over 37 percent from $44.9 million the previous quarter, the fourth quarter of fiscal year 2000. During the first quarter, the company received strong orders for their 300mm product in addition to continued strength in order growth for 200mm Opti-Probe and Therma-Probe products.

The company said demand for all its products continue to be strong, and a healthy backlog in for its metrology systems will keep operating results on an upswing for at least the next few quarters.

The company's comptitors include KLA-Tencor (Nasdaq: KLAC) and Veeco Instruments (Nasdaq: VECO) according to Hoover's Online.