Rudolph Technologies Inc. (RTEC, Financial) filed Quarterly Report for the period ended 2012-06-30.
Rudolph Technologies Inc has a market cap of $280.6 million; its shares were traded at around $9.72 with a P/E ratio of 14.6 and P/S ratio of 1.5.
Gross Profit. Our gross profit has been and will continue to be affected by a variety of factors, including manufacturing efficiencies, excess and obsolete inventory write-offs, pricing by competitors or suppliers, new product introductions, production volume, customization and reconfiguration of systems, international and domestic sales mix, and parts and service margins. Our gross profit was $30.2 million and $54.0 million for the three and six month periods ended June 30, 2012, compared to $27.9 million and $55.2 million for the three and six month periods ended June 30, 2011. Our gross profit represented 53.7% and 52.9% of our revenues for the three and six month periods ended June 30, 2012 and 54.1% and 54.0% of our revenues for the same periods in the prior year. The decrease in gross profit as a percentage of revenue for the three and six month periods ended June 30, 2012 compared to the same periods in the prior year is primarily due to product mix, which included lower software sales.
Research and Development. Our research and development expense was $9.4 million and $19.2 million for the three and six month periods ended June 30, 2012, compared to $9.6 million and $18.4 million for the same period in the prior year. Research and development expense represented 16.7% and 18.8% of our revenues for the three and six month periods ended June 30, 2012, compared to 18.5% and 18.1% of revenues for the prior year period. The year-over-year dollar increase for the six month period ended June 30, 2012 and 2011 in research and development expenses primarily reflects increased compensation and project costs.
Selling, General and Administrative. Our selling, general and administrative expense was $9.9 million and $19.1 million for the three and six month periods ended June 30, 2012, compared to $9.9 million and $19.7 million for the same period in the prior year. Selling, general and administrative expense represented 17.6% and 18.7% of our revenues for the three and six month periods ended June 30, 2012, compared to 19.1% and 19.3% of our revenues for the same period in the prior year. The year-over-year dollar decrease for the six month period ended June 30, 2012 and 2011 in selling, general and administrative expense was primarily due to decreased corporate litigation costs and a non-recurring charge to establish the Company s charitable matching gift program in the second quarter of 2011.
Net cash and cash equivalents used in investing activities during the six month period ended June 30, 2012 of $16.4 million was due to the purchase of marketable securities of $51.6 million, the purchase of business of $7.6 million, and capital expenditures of $0.9 million, partially offset by the proceeds from sales of marketable securities of $43.8 million. Net cash and cash equivalents used in investing activities during the six month period ended June 30, 2011 of $5.1 million was due to purchases of marketable securities of $4.1 million, and capital expenditures of $1.2 million, partially offset by proceeds from sales of marketable securities of $0.2 million.
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Rudolph Technologies Inc has a market cap of $280.6 million; its shares were traded at around $9.72 with a P/E ratio of 14.6 and P/S ratio of 1.5.
Highlight of Business Operations:
The year-over-year increase in systems revenue for the six month period ended June 30, 2012 is primarily due to increased customer demand for inspection systems through the second quarter of 2012. The number of inspection systems sold during the six month period ended June 30, 2012 increased as compared to the same period in the prior year, resulting in an increase in inspection systems revenue of $5.9 million for the 2012 period. The number of metrology systems sold during the six month period ended June 30, 2012 decreased as compared to the same period in the prior year, resulting in an decrease in metrology systems revenue of $2.3 million for the 2012 period. The year-over-year decrease in data analysis and review software revenue for the six month period ended June 30, 2012 of $2.0 million is primarily due to decreased sales across all data analysis and review software product families. As a result, the decrease in revenue for the 2012 period was caused by decreased volume rather than pricing changes. Systems revenue generated by our latest product releases and major enhancements in each of our product families amounted to 65% and 62% of total revenues for the three and six month periods ended June 30, 2012, compared to 44% and 51% of total revenues for the three and six month periods ended June 30, 2011. The year-over-year decrease in total parts and services revenue for the six month period ended June 30, 2012 and 2011 is primarily due to decreased spending by our customers on system upgrades and repairs of existing systems. Parts and services revenues are generated from part sales, maintenance service contracts, system upgrades, as well as time and material billable service calls.Gross Profit. Our gross profit has been and will continue to be affected by a variety of factors, including manufacturing efficiencies, excess and obsolete inventory write-offs, pricing by competitors or suppliers, new product introductions, production volume, customization and reconfiguration of systems, international and domestic sales mix, and parts and service margins. Our gross profit was $30.2 million and $54.0 million for the three and six month periods ended June 30, 2012, compared to $27.9 million and $55.2 million for the three and six month periods ended June 30, 2011. Our gross profit represented 53.7% and 52.9% of our revenues for the three and six month periods ended June 30, 2012 and 54.1% and 54.0% of our revenues for the same periods in the prior year. The decrease in gross profit as a percentage of revenue for the three and six month periods ended June 30, 2012 compared to the same periods in the prior year is primarily due to product mix, which included lower software sales.
Research and Development. Our research and development expense was $9.4 million and $19.2 million for the three and six month periods ended June 30, 2012, compared to $9.6 million and $18.4 million for the same period in the prior year. Research and development expense represented 16.7% and 18.8% of our revenues for the three and six month periods ended June 30, 2012, compared to 18.5% and 18.1% of revenues for the prior year period. The year-over-year dollar increase for the six month period ended June 30, 2012 and 2011 in research and development expenses primarily reflects increased compensation and project costs.
Selling, General and Administrative. Our selling, general and administrative expense was $9.9 million and $19.1 million for the three and six month periods ended June 30, 2012, compared to $9.9 million and $19.7 million for the same period in the prior year. Selling, general and administrative expense represented 17.6% and 18.7% of our revenues for the three and six month periods ended June 30, 2012, compared to 19.1% and 19.3% of our revenues for the same period in the prior year. The year-over-year dollar decrease for the six month period ended June 30, 2012 and 2011 in selling, general and administrative expense was primarily due to decreased corporate litigation costs and a non-recurring charge to establish the Company s charitable matching gift program in the second quarter of 2011.
Net cash and cash equivalents used in investing activities during the six month period ended June 30, 2012 of $16.4 million was due to the purchase of marketable securities of $51.6 million, the purchase of business of $7.6 million, and capital expenditures of $0.9 million, partially offset by the proceeds from sales of marketable securities of $43.8 million. Net cash and cash equivalents used in investing activities during the six month period ended June 30, 2011 of $5.1 million was due to purchases of marketable securities of $4.1 million, and capital expenditures of $1.2 million, partially offset by proceeds from sales of marketable securities of $0.2 million.
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