Aviza Technology, the Scotts Valley supplier of condsemiconductor manufacturing equipment, filed for bankruptcy protection this morning on behalf of itself and its subsidiaries Aviza and Trikon Technologies, according to a company release.
Last month the company’s lenders notified Aviza that it was in default on its credit agreements, demanding that Read the rest of this entry »
Aviza Technology, which itself notified the Nasdaqlisi stock market last week that it would not comply with its financial reporting rules because of its failure to timely file its quarterly 10-Q report with the SEC, received word back from Nasdaq last week confirming that, yep, it is subject to being delisted.
The company has 60 days to submit a plant to regain compliance, and if Nasdaq accepts the plan, could be granted an exception of up to Read the rest of this entry »
Just over a month after the close of its fiscal 2009 second quarter, Aviza Technology has determined that “it expects not to meet its previously announced net sales and adjusted net loss guidance,” according to a release the Scotts Valley supplier of chip equipment maker filed Tuesday afternoon.
The company now expects sales for the quarter to be between Read the rest of this entry »
Aviza Technology reported today that Robert Anderson resigned from its board of directors Monday “due to certain health concerns,” and not because of any disagreement with the company over its operations, policies or practices.
Anderson, 71, has served on Aviza’s board since Read the rest of this entry »
Aviza Technology boss Jerry Cutini said today he was “very pleased by our employees’ performance” during its fiscal 2009 first quarter, according to a statement included inthe company’s earning release. The company reported a $1.3 million net profit compared with an $8.5 million net loss in the year-before quarter. This despite a 26 percent year-over-year drop in sales.
Cutini said in a statement Tuesday that “the effects of our cost reduction and cost control programs were Read the rest of this entry »
Aviza Technology, the supplier of chip-making equipment and processes, decided it was time to crow about its upwardly revised profit forecast for its fiscal 2009 first quarter that ended Dec. 26.
Despite the fact that the company expects sales to be at the low end of its original guidance range of $25 million to $32 million, the Scotts Valley company said it now expects “adjusted” net income to range somewhere between Read the rest of this entry »
For the second time in less than a year, Aviza Technology has seen the buyer of its Scotts Valley headquarter pull out of the deal at the last moment, according to a filing Friday.
In March, we wrote about the announcement of the most recent deal, which marked down the price for the nine-building property to Read the rest of this entry »
Aviza Technology says it plans to lay off 15 percent of its staff in a restructuring that it hopes will save it $15 million to $20 million a year, according to a regulatory filing. Based on the company’s employment level at the end of its last fiscal year, that would amount to 100 lost jobs.
Aviza Technology, the supplier of chip-making process equipment, has lined up another buyer for its headquarter property in Scotts Valley at 440 Kings Village Road, but the price dropped to $13 million, down from the $16 million a previous party had agreed to pay for the property in a deal announced last summer but later withdrawn.
Fowler Property Acquisitions, the current buyer, has a 90-day period to inspect the 43.8 acres property and its title and perform other due diligence. If the deal goes through, Fowler has agreed to let Aviza lease the building temporarily for up to two years until it relocates to a new facility, according to an SEC filing Wednesday.
Morley Bros., the party that agreed in July to pay $16 million for the the property, which includes nine office buildings with 213,534 square feet of space, withdrew the offer in September, after prospective buyer told Aviza it “”disapproved of the property materials and inspections and investigations of the property, as provided under the Purchase Agreement,” according to an SEC filing at the time.
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