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customers. Simultaneously, negotiations are ongoing with various distributors covering the Asia Pacific region. The idea is to choose 4-5 key partners to cover the region and the various business fields. However, an identified range of business fields will still be handled by Stella’s own sales force. Stella has a product portfolio of more than 40 different specialty chemicals. The hiring process of experienced sales and technical support staff is ongoing.
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Ultratech, Inc. (NASDAQ: UTEK) announced unaudited results for the three-month period ended September 29, 2012. For the third quarter of fiscal 2012, Ultratech reported net sales of $60.5 million as compared to $54.9 million during the third quarter of fiscal 2011. Ultratech‘s net income for the third quarter of 2012 was $12.4 million, or $0.45 per share (diluted), as compared to net income of $10.5 million, or $0.39 per share (diluted) for the same quarter last year. Arthur W. Zafiropoulo, Chairman and Chief Executive Officer, stated, "We achieved another quarter of strong financial results, and we believe the outlook for Ultratech remains bright. We have taken advantage of our strong financial position to invest in new and complementary products that further enhance our market leading position in advanced packaging, laser spike annealing and high-brightness LEDs. We believe that our highly focused business strategy, leading technology capabilities, and strong customer relationships position us well to continue our track record of success."
At September 29, 2012, Ultratech had $280.9 million in cash, cash equivalents and short-term investments. Working capital was $331.5 million and stockholders‘ equity was $12.93 per share based on 27,021,299 total shares outstanding as of September 29, 2012.
Veeco Instruments Inc. (Nasdaq: VECO) an- nounced that Nantong Tongfang Semiconductor Co., Ltd. has received shipment of Veeco‘s Turbo- Disc® K465i™ MOCVD System for research of GaN-on-Si high brightness light emitting diodes (HB LEDs). The system was delivered to Tongfang’s new LED Technology Center in Nantong, China.