10-04 :: April 2010
revolutionize minimally invasive surgery. The com- pany relies on rapid prototyping, intense pre-clinical labs and hands-on collaboration with expert surgeons to accelerate learning and bring a device to market more quickly. With this financing, TransEnterix has secured an aggregate of $75 million in venture capi- tal funding since its inception.
ccording to the WSJ, Taiwan Semiconductor
Manufacturing Co.‘s chief says sales to China
could overtake those to Japan this year.
eeco Instruments Inc. (NASDAQ: VECO) published for the first quarter ended March 31,
2010, a record revenue of $163 million, an increase of 160% from last year and 12% sequentially, accor- ding to John R. Peeler, Veeco’s CEO. “EBITA was a record $32.8 million, or 20% of sales, resulting in record quarterly GAAP EPS of $0.62 per share and non-GAAP EPS of $0.49 per share. Veeco generated $42 million in cash from operations during the first quarter,” he adds.
“Veeco’s first quarter bookings were $268 million, another record for the Company,” continued Mr. Peeler. “LED & Solar orders were a record $212 million, up 20% sequentially, driven by accelera- ting orders for TurboDisc®
better than the same period a year ago but down on a sequential basis.” Veeco’s Q1 ‘10 book-to-bill ratio was 1.64, with a record backlog of $502 million at the end of the quarter.
Veeco’s second quarter 2010 revenue is currently forecasted to be between $220 to $240 million.
he Westaim Corporation (TSX: WED) has com- pleted the acquisition of all of the shares of
Metal Organic Chemical
Vapor Deposition (MOCVD) Systems. We continu- ed to see strong MOCVD demand as an expanding LED customer list ramps production for laptop and TV backlighting, as well as for general illumination. Data Storage and Metrology orders were $26 milli- on and $30 million respectively, each significantly
JEVCO Insurance Company (JEVCO) from Kings- way Financial Services Inc. (KFS) pursuant to the
terms of the purchase agreement dated as of January 25, 2010, as amended (the Purchase Agreement) between Westaim and KFS. The aggregate purchase price payable by Westaim to KFS in respect of the Acquisition is $264.2 million, subject to certain adjustments. In accordance with the terms of the Purchase Agreement, Westaim made a cash payment to KFS of $236.7 million. In addition, Westaim depo- sited the sum of $27.5 million with an escrow agent to be held in trust pending certain adjustments to the purchase price in accordance with the Purchase Agreement. Immediately prior to the completion of the Acquisition, KFS made a payment of $12 million to JEVCO to settle certain intercompany balances and JEVCO paid a cash dividend to KFS in the aggre- gate amount of $10.8 million. In order to finance the Acquisition, Westaim had previously issued a total of 550 million subscription receipts (the Subscription Receipts) at an issue price of $0.50 each for gross proceeds of $275 million.