Ultra Clean Reports Q1 '09 Financi...( Revenue and Earnings in Line with Gui...),Health

Revenue and Earnings in Line with Guidance

HAYWARD, Calif., May 4 /PRNewswire-FirstCall/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), a leading developer and supplier of critical subsystems for the semiconductor capital equipment, flat panel, solar, and medical device industries, today reported its financial results for the first quarter ended April 3, 2009. Revenue for the first quarter of 2009 was $22.4 million, a decrease of 52% from the fourth quarter of 2008 and a decrease of 76% from the same period a year ago. Gross margin (loss) for the first quarter of 2009 was (13%), compared to 1% for the fourth quarter of 2008, and 13% for the same period a year ago.

The company recorded a net loss of ($7.0) million or ($0.33) per share on a GAAP basis, during the first quarter of 2009, compared to a net loss of ($52.2) million or ($2.45) per share, for the fourth quarter of 2008 and net income of $1.9 million, or $0.09 per share, for the same period a year ago. The first quarter 2009 net loss per share is inclusive of non-cash charges of $0.03 per share related to SFAS 123( R ) during the period.

Cash at the end of the first quarter of 2009 was $29.8 million, an increase of $0.2 million from $29.6 million at the end of the fourth quarter of 2008, and an increase of $4.8 million from $25.0 million at the end of the first quarter of 2008. Third party debt at the end of the first quarter was $17.3 million, a decrease of $1.2 million from $18.5 million at the end of the fourth quarter of 2008 and a decrease of $4.1 million from $21.4 million at the end of the first quarter of 2008.

Clarence Granger, Ultra Clean's Chairman and Chief Executive Officer commented: "We are committed to maintaining a strong balance sheet and are concentrating on cash flow and cost reduction. At the same time, we are focus
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