Cascade Microtech Announces Preliminary Second Quarter 2008 Results

  
    
  
  
    
      Cascade Microtech, Inc. (Nasdaq:CSCD) today announced its preliminary 
      results for the second quarter ended June 30, 2008.
    
    
      Revenue for the second quarter of 2008 is expected to be in the range of 
      $19.0 million to $19.5 million and the loss per share is expected to be 
      in the range of $(0.14) to $(0.16) on approximately 13 million shares 
      outstanding. The Company provided guidance on April 29, 2008, for 
      revenue of $18.0 million to $21.0 million and net loss per share of 
      $(0.06) to earnings of $0.01.
    
    
      Geoff Wild, CEO stated, “The weak market 
      conditions in the semiconductor and semiconductor equipment industry are 
      continuing to impact our Engineering Products Division, which 
      experienced a lower than expected mix of 300mm systems revenue and 
      analytical probe revenue. Our Production Products Division continued to 
      grow sequentially in the second quarter.”
    
    
      The earnings shortfall was primarily caused by:
    
    
      (a) a lower than expected gross margin due to an unfavorable product and 
      geographic mix of revenue in our Engineering Products Division;
    
    
      (b) higher than expected sales, general and administrative expenses 
      primarily due to higher sales rep commissions on sales where there is no 
      direct presence;
    
    
      (c) higher than expected foreign exchange losses.
    
    
      Cash and investment balances at June 30, 2008, are expected to be 
      approximately $36.5 million, essentially the same as the balances at 
      March 31, 2008.
    
    
      The Company has not yet completed the preparation of its second quarter 
      2008 financial statements and review of the Company’s 
      historical information has not been completed by our independent 
      registered public accounting firm. Accordingly, the preliminary results 
      provided in this press release are subject to the risk that upon 
      completion of the second quarter financial statements and the review 
      thereof by the Company’s independent 
      registered public accounting firm, there may be adjustments to the 
      Company’s financial information that could 
      materially affect the preliminary results provided in this press release.
    
    
      Cascade Microtech will release financial results for its second quarter 
      ended June 30, 2008, at approximately 4 pm EDT, on Tuesday, July 29, 
      2008. The Company will host a conference call beginning at 5 pm EDT (2 
      pm PDT) that same afternoon to discuss these results.
    
    
      A simultaneous audio cast of the conference call may be accessed online 
      from the investor relations page of www.cascademicrotech.com 
      . A replay will be available after 7 pm EDT at this same internet 
      address. (For a telephone replay available after 7 pm EDT dial: 
      888-286-8010, international: 617-801-6888, passcode: 43432209)
    
    
      Forward –Looking Statements
    
    
      The statements in this release regarding the Company’s 
      expectations as to financial results for the quarter ended June 30, 2008 
      are “forward-looking” 
      statements within the meaning of the Securities Litigation Reform Act of 
      1995. Such statements are based on current expectations, estimates and 
      projections about the Company’s business based 
      in part on assumptions made by management. These statements are not 
      guarantees of future performance and involve risks and uncertainties 
      that are difficult to predict. Therefore actual outcomes and results may 
      differ materially from what is expressed or forecasted in such forward 
      looking statements due to numerous factors, including changes or 
      adjustments resulting from the completion of the preparation of the 
      Company’s second quarter financial results or 
      the review therof by the Company’s 
      independent registered public accountants, changes in demand for the 
      Company’s products, product mix, the timing 
      of shipments and customer orders, constraints on supplies of components, 
      excess or shortage of production capacity and other risks discussed from 
      time to time in the Company’s Securities and 
      Exchange Commission filings and reports, including the Company’s 
      Annual Report on Form 10-K. In addition such statements could be 
      affected by general industry and market conditions and growth rates and 
      general domestic and international economic conditions. Investors should 
      be aware that the Company’s fiscal quarter 
      ended June 30, 2008. The Company has not yet completed the preparation 
      of its quarter end financial statements and the review of the Company’s 
      historical financial statements has not been completed by the Company’s 
      independent registered public accounting firm. Accordingly, the 
      preliminary results provided in this press release are subject to the 
      risk that upon completion of the quarter end financial statements and 
      the review thereof by our independent registered accounting firm, there 
      may be adjustments to the Company’s financial 
      information that could materially affect the preliminary results 
      provided in this press release. The Company should not be considered to 
      be under any obligation or course of conduct in the future to issue 
      revisions to previously issued financial information as a result of its 
      decision to provide preliminary financial results for the second quarter 
      2008. Such forward-looking statements speak only as of the date on which 
      they are made and the company does not undertake any obligation to 
      update any forward-looking statement to reflect events or circumstances 
      after the date of this release.
    
    
      About Cascade Microtech
    
    
      Cascade Microtech, Inc. (Nasdaq: CSCD) is a worldwide leader in the 
      precise electrical measurement and test of integrated circuits (ICs) and 
      other small structures. For technology businesses and scientific 
      institutions that need to evaluate small structures, Cascade Microtech 
      delivers access to, and extraction of, electrical data from wafers, ICs, 
      IC packages, circuit boards and modules, MEMs, biological structures, 
      electro-optic devices and more. Cascade Microtech’s 
      leading-edge semiconductor production test consumables include unique 
      probe cards and test sockets that reduce manufacturing costs of 
      high-speed and high-density semiconductor chips. Information about 
      Cascade Microtech can be found on the Web at www.cascademicrotech.com.