Cascade Microtech Announces Appointment of Interim Executive Vice President
Company Reaffirms Revenue Guidance for Fourth Quarter Ending December 31, 2009
| Source: Cascade Microtech
BEAVERTON, OR--(Marketwire - December 28, 2009) - Cascade Microtech, Inc. (NASDAQ : CSCD ) today
announced Mr. Steve Harris, Vice President of Engineering, has been given
the additional appointment as interim Executive Vice President effective
December 21, 2009, for the transition period until a new CEO is appointed.
Dr. F. Paul Carlson, Chairman, interim President and CEO said, "This is an
important appointment ensuring continuity and growth while the Company is
searching for a new President and CEO."
"The Company is currently progressing well and, as we come out of this
recession, there is much to do and sustain," said Dr. Carlson. "Steve
Harris will ensure that management processes and goals are followed to
support and lead the activities of the solid executive management team
already in place."
Steve Harris joined Cascade Microtech in January 2009 after having spent
nearly five years as vice president of research, development and
engineering at Electro Scientific Industries, Inc. When Mr. Harris joined
ESI in November 1997, he first led the Central Engineering group and later
served as General Manager of the Semiconductor Link Processing business
unit. Prior to joining ESI, he was employed at Tektronix, where he began
his career and spent thirteen years in a variety of product development and
engineering management positions. Mr. Harris holds a BSEE from the
University of Idaho.
The Company is also reaffirming its revenue guidance for the fourth quarter
ending December 31, 2009, at $14 million to $16 million, which is the same
as the guidance provided on October 27, 2009.
Forward-Looking Statements
The statements in this release, in particular the comments of Mr. Carlson
and the reaffirmation of revenue guidance for the fourth quarter ending
December 31, 2009, 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. Such 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 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. 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 electrical data from wafers, integrated circuits (ICs), IC packages,
circuit boards and modules, MEMS, biological structures, LED devices and
more. Cascade Microtech's leading-edge semiconductor production test
products include unique probe cards and test sockets that reduce
manufacturing costs of high-speed and high-density semiconductor chips. For
more information visit www.cascademicrotech.com.