<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 10-Q
[Mark One]
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2000
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to
---------------------- ----------------------
Commission file number 0-26482
TRIKON TECHNOLOGIES, INC.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
California 95-4054321
- -------------------------------- -------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
Ringland Way, Newport, Gwent NP18 2TA, United Kingdom
- ----------------------------------------------------- -------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 44-1633-414-000
------------------------------
Not Applicable
- --------------------------------------------------------------------------------
Former name, former address and former fiscal year, if changed since last report
Indicate by check whether the registrant (1) has filed all reports required to
be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
------------ ------------
As of May 9, 2000, the total number of outstanding shares of the Registrant's
common stock was 10,634,004.
1
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Trikon Technologies, Inc.
INDEX
<TABLE>
<CAPTION>
PAGE
NUMBER
-------
<S> <C> <C>
PART I. FINANCIAL INFORMATION
Item 1. Condensed Consolidated Financial Statements:
Condensed Consolidated Balance Sheets at March 31, 2000 (unaudited) and
December 31, 1999.................................................................... 3
Unaudited Condensed Consolidated Statements of Operations for the Three
Months ended March 31, 2000, and 1999................................................ 5
Unaudited Condensed Consolidated Statements of Cash Flows for the Three
Months ended March 31, 2000, and 1999................................................ 6
Notes to Unaudited Condensed Consolidated Financial Statements....................... 7
Item 2. Management's Discussion and Analysis of Financial Condition and Results of
Operations........................................................................... 9
Item 3. Quantitative and Qualitative Disclosure about Market Risk............................ 12
PART II. OTHER INFORMATION
Item 1. Legal Proceedings.................................................................... 13
Item 6. Exhibits and Reports on Form 8-K..................................................... 13
SIGNATURE PAGE..................................................................................... 14
EXHIBITS........................................................................................... 15
</TABLE>
2
<PAGE>
Trikon Technologies, Inc.
PART 1 FINANCIAL INFORMATION
ITEM 1 CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands except share data)
<TABLE>
<CAPTION>
March 31, December 31,
2000 1999(1)
----------- ------------
(unaudited)
<S> <C> <C>
Assets
Current assets:
Cash and cash equivalents...................................... $ 1,498 $ 3,927
Accounts receivable, net of reserves........................... 18,856 15,471
Inventories, net of reserves................................... 20,913 19,256
Other current assets........................................... 1,975 2,129
-------- -------
Total current assets........................................... 43,242 40,783
Property, equipment and leasehold improvements, net of 17,200 15,217
accumulated depreciation and amortization.....................
Demonstration systems, net of accumulated depreciation......... 1,310 860
Deferred bond financing costs.................................. 48 55
Other assets................................................... 353 363
-------- -------
Total assets................................................... $ 62,153 $57,278
======== =======
</TABLE>
3
<PAGE>
ITEM 1 CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(In thousands except share data)
<TABLE>
<CAPTION>
March 31, December 31,
2000 1999(1)
----------- ------------
(unaudited)
<S> <C> <C>
Liabilities and shareholders' equity
Current liabilities:
Accounts payable and accrued expenses.......................... 12,454 9,646
Sales returns payable.......................................... 2,264 3,664
Other current liabilities...................................... 5,639 4,102
----------- ---------
Total current liabilities...................................... 20,357 17,412
Convertible subordinated notes ................................ 3,130 4,147
Other non-current liabilities ................................ 4,096 4,115
----------- ---------
27,583 25,674
Shareholders' equity:
Preferred Stock: 16,016 31,979
Authorized shares -- 20,000,000
Series H Preferred Stock, no par value $10 per share
liquidation preference
Designated shares - 3,500,000
Issued and outstanding -- 1,601,559 at March 31, 2000
and 3,197,898 at December 31, 1999.....................
Common Stock, no par value: 216,525 199,019
Authorized shares -- 11,000,000
Issued and outstanding -- 10,634,004 at March 31, 2000 and
9,404,606 at December 31, 1999................................
Cumulative translation adjustment.............................. (2,534) (2,177)
Deferred compensation.......................................... (4,741) (5,121)
Accumulated deficit............................................ (190,696) (192,096)
----------- ---------
Total shareholders' equity..................................... 34,570 31,604
----------- ---------
Total liabilities and shareholders' equity..................... $ 62,153 $ 57,278
=========== =========
</TABLE>
(1) The Balance Sheet at December 31, 1999, has been derived from the audited
consolidated financial statements at that date, but does not include all of
the information and footnotes required by generally accepted accounting
principles for complete financial statements.
See Notes to Condensed Consolidated Financial Statements.
4
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Trikon Technologies, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands except per share data)
<TABLE>
<CAPTION>
Three Months Ended
-------------------------------------------
March 31, March 31,
2000 1999
----------------- -------------------
<S> <C> <C>
Revenues:
Product sales $ 18,642 $ 8,716
----------------- -------------------
Costs and expenses:
Cost of goods sold............... 9,818 5,773
Research and development......... 1,700 1,597
Selling, general and 4,941 3,863
administrative..................
----------------- -------------------
16,459 11,233
Income (Loss) from operations.... 2,183 (2,517)
Interest (expense), net.......... (55) (66)
----------------- -------------------
Income (Loss) before income tax 2,128 (2,583)
provision........................
Income tax provision............. 229 46
----------------- -------------------
Net income (loss) $ 1,899 $ (2,629)
================= ===================
Net income (loss) applicable
to common shares................ $ 1,345 $ (3,229)
================= ===================
Earnings (loss) per common share
data:
Basic............................ $ 0.16 $ (0.39)
Diluted.......................... $ 0.15 $ (0.39)
================= ===================
Average common shares used in
calculation:
Basic 8,665 8,254
Diluted 9,237 8,254
================= ===================
</TABLE>
See Notes to Unaudited Condensed Consolidated Financial Statements.
5
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Trikon Technologies, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In thousands)
<TABLE>
<CAPTION>
Three months ended
------------------------------
March 31, March 31,
2000 1999
----------- -----------
<S> <C> <C>
Net cash used in operating activities........................... $ (1,756) $ (2,753)
INVESTING ACTIVITIES
Net (purchases) sales of property, equipment and leasehold (758) 26
improvements.................................................
FINANCING ACTIVITIES
New financings on capital leases.......... 96 --
Payments on capital lease obligations......................... (11) (69)
---------- ----------
Net cash provided by (used in) financing activities............. 85 (69)
---------- ----------
Net decrease in cash and cash equivalents....................... (2,429) (2,796)
Cash and cash equivalents at beginning of period 3,927 7,891
---------- ----------
Cash and cash equivalents at end of period $ 1,498 $ 5,095
========== ==========
</TABLE>
See Notes to Unaudited Condensed Consolidated Financial Statements.
6
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Trikon Technologies, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
MARCH 31, 2000
NOTE A BASIS OF PRESENTATION
The accompanying unaudited condensed consolidated financial statements have been
prepared in accordance with generally accepted accounting principles for interim
financial information and with the instructions to Form 10-Q and Article 10 of
Regulation S-X. Accordingly, they do not include all of the information and
footnotes required by generally accepted accounting principles for complete
financial statements. In the opinion of management, all adjustments (consisting
of normal recurring accruals) considered necessary for a fair presentation have
been included. The operating results for the three months ended March 31, 2000,
are not necessarily indicative of the results that may be expected for the year
ending December 31, 2000. For further information, refer to the consolidated
financial statements and footnotes thereto included in Trikon Technologies,
Inc.'s (the "Company") Annual Report on Form 10-K for the year ended December
31, 1999.
During December 1999, the Securities and Exchange Commission issued Staff
Accounting Bulletin No. 101, "Revenue Recognition in Financial Statements" ("SAB
101"). SAB 101 provides guidance on the recognition, presentation and disclosure
of revenue in the financial statements. Implementation of guidance prescribed in
SAB 101, which all registrants are expected to apply, would result in a change
in the Company's revenue recognition policy as applied to system sales from the
date of shipment and transfer of title to the date of final acceptance and would
have the effect of later revenue recognition. Because the Company has complied
with generally accepted accounting principles for its historical revenue
recognition, a change in its revenue recognition policy resulting from SAB 101
would first be reported in the quarter ending June 30, 2000. Any consequent
deferral of revenue for shipments previously reported as revenue which had not
been accepted by customers would result in a cumulative adjustment in the second
quarter of fiscal 2000 in respect of shipments not accepted as of December 31,
1999, and a restatement of results for the first quarter of fiscal 2000 in
respect of shipments not accepted as of March 31, 2000. This adjustment would
have a material adverse effect on reported net income for the first and second
quarter of fiscal 2000, the six months ending June 30, 2000 and for fiscal 2000
as a whole. The Company is progressing its assessment of the detailed impact of
SAB 101 on its financial statements. However, implementation of SAB 101 will not
affect the fundamental aspects of the Company's operations as measured by its
shipments and cash flow.
NOTE B INVENTORIES
Inventories are stated at the lower of cost (first-in, first-out method) or
market. The components of inventory consist of the following (in thousands):
<TABLE>
<CAPTION>
March 31, December 31,
2000 1999
------------------------ --------------------
<S> <C> <C>
Components.......................... $ 3,389 $ 3,614
Work in process..................... 17,276 13,840
Finished goods...................... 248 1,802
------------------------ --------------------
$ 20,913 $ $19,256
======================== ====================
</TABLE>
NOTE C NET INCOME (LOSS) APPLICABLE TO COMMON SHARES
Net income (loss) applicable to common shares is the net income (loss) for the
period less preferred stock dividend costs for the period. Preferred stock
dividend costs amounted to $554,000 for the quarter ended March 31, 2000 and
$600,000 for the quarter ended March 31, 1999.
NOTE D NET INCOME (LOSS) PER SHARE
Basic and diluted earnings (loss) per share is calculated in accordance with
FASB Statement No. 128, "Earnings Per Share", which specifies the computation,
presentation and disclosure requirements for earnings per share. Basic earnings
(loss) per share for the three months ended March 31, 2000 and March 31, 1999
exclude the effect of
7
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1,149,281 restricted shares of common stock which are contingently issuable to
the Company's Chairman of the Board. Diluted earnings per share for the three
months ended March 31, 2000 and March 31, 1999 exclude the effects of the
restricted common stock because under the treasury stock method these shares are
anti-dilutive. Diluted earnings (loss) per share for the three months ended
March 31, 1999 excluded the effects of all outstanding stock options because the
exercise price of such stock options exceeded the market price of the underlying
stock.
NOTE E COMPREHENSIVE INCOME (LOSS)
Comprehensive income (loss) comprises net income (loss) and currency translation
adjustment for the period. Translation adjustments were $(0.4 million) for the
three months ended March 31, 2000 and $(1.1 million) for the three months ended
March 31, 1999. Total comprehensive income (loss) for the three months ended
March 31, 2000 and March 31, 1999 were $1.5 million and $(3.8 million),
respectively.
NOTE F CONVERTIBLE SUBORDINATED NOTES
During the quarter ended March 31, 2000, the Company exchanged $1,017,000 of 7
1/8% Convertible Subordinated Notes due 2001 plus accrued interest for 84,466
shares of Common Stock.
NOTE G PREFERRED STOCK
The Board of Directors has the authority to issue up to 20,000,000 shares of
Preferred Stock in one or more series with rights, preferences, privileges and
restrictions to be determined at the Board's discretion.
In May 1998, in conjunction with an exchange offer made to the holders of
Convertible Notes, the Company issued 2,855,754 new shares of Series H Preferred
Stock. The Series H Preferred Stock will be redeemable at the option of the
Company for cash on June 30, 2001, at a redemption price equal to the stated
amount and the holders of the Series H Preferred Stock shall be entitled to
receive dividends at an annual rate of 8 1/8% of the stated amount payable
annually, at the option of the Company, in cash or additional shares of
preferred stock or any combination thereof. The Series H Preferred Stock will be
subject to automatic conversion if the Company's Common Stock price reaches
certain levels and accelerated redemption if certain cash flow levels are
achieved. Since the issue, dividends due to holders of Series H Preferred Stock
have been paid by the issue of additional shares of Series H Preferred Stock.
During the fiscal quarter ended March 31, 2000, the Company exchanged 1,596,339
shares of Series H Preferred Stock plus accrued dividend rights for 1,144,932
shares of Common Stock.
8
<PAGE>
Trikon Technologies, Inc.
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS
The following Management's Discussion and Analysis of Financial Condition and
Results of Operations of Trikon should be read in conjunction with the
consolidated financial statements of Trikon and notes thereto included elsewhere
in this Report. This discussion contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These forward-looking statements are based on
current expectations, assumptions and projections and entail various risks and
uncertainties that could cause actual results to differ materially from those
projected in the forward-looking statements. Such risks and uncertainties
include but are not limited to, availability of financial resources adequate for
the Company's medium- and long-term needs, the acceptance of the Company's
technologies and processes for the development and manufacture of
semiconductors, the overall market demand for semiconductors, the demand for the
Company's products in particular, as well as those set forth under
"Quantitative and Qualitative Disclosure about Market Risk," and the other risks
and uncertainties described from time to time in the Company's public
announcements and SEC filings, including without limitation the Company's
Quarterly and Annual Reports on Form 10-Q and 10-K, respectively.
OVERVIEW
The Company develops, manufactures, markets and services semiconductor equipment
for the worldwide semiconductor manufacturing industry.
RESULTS OF OPERATIONS
The following table sets forth certain operating data as a percentage of total
revenue for the periods indicated:
<TABLE>
<CAPTION>
March 31, March 31,
2000 1999
----- ------
<S> <C> <C>
Product revenues........................... 100.0% 100.0%
Cost of goods sold 52.7 66.2
---------------------------------------
Gross margin............................... 47.3 33.8
Operating expenses:
Research and development................. 9.1 18.3
Selling, general and administrative...... 26.5 44.3
---------------------------------------
Total operating expenses................... 35.6 62.6
---------------------------------------
Income (loss) from operations.............. 11.7 (28.8)
Interest (expense), net.................... (0.3) (0.8)
---------------------------------------
Income (loss) before income tax benefit.... 11.4 (29.6)
Income tax provision....................... 1.2 0.5
---------------------------------------
Net income (loss).......................... 10.2% (30.1)%
=======================================
</TABLE>
PRODUCT REVENUES. Product revenues for the first quarter of fiscal 2000
increased 114% to $18.6 million compared to $8.7 million for the same quarter of
fiscal 1999. The increase was attributable primarily to increased shipments of
systems.
Sales outside of the United States accounted for approximately 77% of total
revenues in the first quarter of 2000 and 62% of total revenues in the first
quarter of 1999. The quantity of product shipped will fluctuate significantly
from quarter to quarter and the individual customers to which these products are
sold can also change from quarter to
9
<PAGE>
quarter. Given the significance of each individual sale, the percentage of sales
made outside of the United States may also fluctuate significantly from quarter
to quarter.
During December 1999, the Securities and Exchange Commission issued Staff
Accounting Bulletin No. 101, "Revenue Recognition in Financial Statements". SAB
101 provides guidance on the recognition, presentation and disclosure of revenue
in the financial statements. Implementation of guidance prescribed in SAB 101,
which all registrants are expected to apply, would result in a change in the
Company's revenue recognition policy as applied to system sales from the date of
shipment and transfer of title to the date of final acceptance and would have
the effect of later revenue recognition. Because the Company has complied with
generally accepted accounting principles for its historical revenue recognition,
a change in its revenue recognition policy resulting from SAB 101 would first be
reported in the quarter ending June 30, 2000. Any consequent deferral of revenue
for shipments previously reported as revenue which had not been accepted by
customers would result in a cumulative adjustment in the second quarter of
fiscal 2000 in respect of shipments not accepted as of December 31, 1999, and a
restatement of results for the first quarter of fiscal 2000 in respect of
shipments not accepted as of March 31, 2000. This adjustment would have a
material adverse effect on reported net income for the first and second quarter
of fiscal 2000, the six months ending June 30, 2000 and for fiscal 2000 as a
whole. The Company is progressing its assessment of the detailed impact of SAB
101 on its financial statements. However, implementation of SAB 101 will not
affect the fundamental aspects of the Company's operations as measured by its
shipments and cash flow.
GROSS MARGIN ON PRODUCT REVENUES. The Company's gross margin on product
revenues for the first quarter of fiscal 2000 was 47% as compared to 34% for the
first quarter of fiscal 1999. The improvement in gross margins in the current
period compared with the same period of 1999 results from productivity gains
from increased production volumes.
RESEARCH AND DEVELOPMENT EXPENSES. Research and development expenses for the
three months ended March 31, 2000 were $1.7 million, or 9% of total revenues.
This compares with $1.6 million, or 18% of total revenues, for the same period
of fiscal 1999. The major focus of the Company's research and development
efforts continues to be the development of new processes in further advancing
its proprietary physical vapor deposition (PVD), chemical vapor deposition (CVD)
and etch technologies as well as adding enhancements to its existing products.
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES. Selling, general and
administrative expenses for the first quarter of fiscal 2000 were $4.9 million,
or 27% of total revenues, compared to $3.9 million, or 44% of total revenues, in
the first quarter of fiscal 1999. The increase in these expenses between the
first three months of 1999 and the first three months of 2000 is primarily due
to increased selling and marketing effort between the two periods and higher
general and administrative costs resulting from the increased level of business
between the two periods.
INCOME (LOSS) FROM OPERATIONS. The Company realized a profit from operations of
$2.2 million in the first quarter of 2000 compared with a $2.5 million loss from
operations in the first quarter of fiscal 1999. The operating margin for the
first quarter of fiscal 2000 was 11.7% compared with a deficit of 28.8% for the
same period of 1999. The improvement in operating result between the two periods
was due to increased revenues and improved gross margins resulting in an
increase in gross profits of $5.9 million, less increased operating costs of
$1.2 million.
INTEREST EXPENSE, NET. Interest expense, net was $0.1 million in the first
quarter of fiscal 2000 compared with interest expense, net of $0.1 million in
the first quarter of fiscal 1999. Interest expense is primarily in respect of
interest payable to the holders of convertible debt. Interest expense for the
three months ended March 31, 2000 and 1999 is net of interest income of $0.1
million and $0.1 million respectively.
INCOME TAXES. The income tax charge for the three months ended March 31, 2000
and 1999 represents tax on earnings of overseas subsidiaries. The Company's
ability to use its domestic and foreign net operating losses and credit
carryforwards will depend upon future income and will be subject to an annual
limitation, required by the Internal Revenue Code of 1986, as amended and
similar state provisions.
The Company has operating subsidiaries in several countries, and each subsidiary
is taxed based on the laws of the jurisdiction in which it operates. Because
taxes are incurred at the subsidiary level, and one subsidiary's tax losses
cannot be used to offset the taxable income of subsidiaries in other
jurisdictions, the Company's consolidated
10
<PAGE>
effective tax rate may increase to the extent it reports tax losses in some
subsidiaries and taxable income in others. The subsidiaries are subject to
taxation in countries where they operate, and such operations generally are
taxed at rates similar to or higher than tax rates in the United States. The
payment of dividends or distributions by the subsidiaries to the United States
would be subject to withholding taxes in the country of domicile and may be
mitigated under the terms of relevant tax treaties.
LIQUIDITY AND CAPITAL RESOURCES
At March 31, 2000, the Company had $1.5 million in cash and cash equivalents,
compared to $3.9 million at December 31, 1999. The decrease in cash and cash
equivalents principally resulted from cash utilized in operating activities. The
Company also had unused credit facilities of approximately $5.4 million at March
31, 2000.
During the first quarter of 2000, the Company issued 1,229,398 shares of its
common stock in exchange for an aggregate of $1,017,000 face value of its
outstanding 7 1/8% Subordinated Convertible Notes due 2001 plus accrued interest
and 1,596,339 shares of its Series H Preferred Stock. As a result, the Company
has reduced its interest expense and dividend obligations.
The Company expects that its anticipated cash flow and credit facility will be
sufficient to meet its normal operating requirements over the near term.
YEAR 2000
The Company has not incurred any material costs in connection with the year 2000
issue in the first quarter of fiscal 2000 and management are not aware of any
related issues that will result in material future costs.
11
<PAGE>
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK
The following discussion and analysis about market risk disclosures may contain
"forward-looking statements" within the meaning of Section 27A of the Securities
Act and Section 21E of the Exchange Act. Such statements include declarations
regarding the intent, belief or current expectations of the Company and its
management and involve risks and uncertainties. Actual results could differ
materially from those projected in the forward-looking statements.
The Company's earnings and cash flow are subject to fluctuations in foreign
currency exchange rates. Significant factors affecting this risk include the
Company's manufacturing and administrative cost base which is predominately in
British Pounds, and product sales outside the United States which may be
expressed in currencies other than the United States dollar. The Company
constantly monitors currency exchange rates and matches currency availability
and requirements whenever possible. The Company may from time to time enter
into forward foreign exchange transactions in order to minimize risk from firm
future positions arising from trading. As at March 31, 2000 and December 31,
1999, the Company had no open forward currency transactions.
Based upon budgeted income and expenditures, a hypothetical increase of 10% in
the value of the British Pound against all other currencies in the second
quarter of 2000 would have no material effect on revenues expressed in United
States dollars and would increase operating costs and reduce cash-flow by
approximately $1.8 million. The same increase in the value of the British Pound
would increase the value of the net assets of the Company expressed in United
States dollars by approximately $2.7 million. The effect of the hypothetical
change in exchange rates ignores the affect this movement may have on other
variables including competitive risk. If it were possible to quantify this
impact, the results could well be different than the sensitivity effects shown
above. In addition, it is unlikely that all currencies would uniformly
strengthen or weaken relative to the British Pound. In reality, some currencies
may weaken while others may strengthen.
12
<PAGE>
PART II
OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
None.
ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS
None.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS
None.
ITEM 5. OTHER INFORMATION
None.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) The following exhibits are included herein:
Number Description
------ -----------
27.1 Financial Statement Data
(b) Reports on Form 8-K:
None.
13
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Trikon Technologies, Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
TRIKON TECHNOLOGIES, INC.
Date: May 10, 2000 /s/ Nigel Wheeler
--------------------------
Nigel Wheeler
Chief Executive Officer, Chief
Operating
Officer, President and Director
Date: May 10, 2000 /s/ Jeremy Linnert
--------------------------
Jeremy Linnert
Chief Financial Officer
14
<PAGE>
Trikon Technologies, Inc.
Trikon Technologies, Inc.
EXHIBIT INDEX
Exhibit No. Page No. Description
- ----------- -------- -----------
27.1 Financial Statement Data
15
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-START> JAN-01-2000
<PERIOD-END> MAR-31-2000
<CASH> 1,498
<SECURITIES> 0
<RECEIVABLES> 18,902
<ALLOWANCES> (46)
<INVENTORY> 20,913
<CURRENT-ASSETS> 43,242
<PP&E> 25,955
<DEPRECIATION> (8,755)
<TOTAL-ASSETS> 62,153
<CURRENT-LIABILITIES> 20,357
<BONDS> 3,130
0
16,016
<COMMON> 216,525
<OTHER-SE> (197,971)
<TOTAL-LIABILITY-AND-EQUITY> 62,153
<SALES> 18,642
<TOTAL-REVENUES> 18,642
<CGS> 9,818
<TOTAL-COSTS> 16,459
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> (55)
<INCOME-PRETAX> 2,128
<INCOME-TAX> (229)
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 1,899
<EPS-BASIC> 0.16
<EPS-DILUTED> 0.15
</TABLE>
