SAN DIEGO, Oct. 30 /PRNewswire-FirstCall/ -- Cymer, Inc. (Nasdaq: CYMI), the world's leading supplier of light sources used by chipmakers to create advanced semiconductor chips, today announced that the company's Board of Directors has appointed Paul B. Bowman as Senior Vice President, Chief Financial Officer and Secretary.
Mr. Bowman has served as Cymer's Interim Chief Financial Officer since December 2008. He joined the company as Vice President of Investor Relations in May of 2008. Mr. Bowman has 28 years of experience in various financial management positions at Applied Materials, Unisys, and IBM. Prior to joining Cymer, he served for two years as the Chief Financial Officer of American Mold Guard, which was a Nasdaq listed company, in the home services industry.
"We appreciate Paul's financial leadership and contribution to the company during 2009 as we conducted our CFO search," said Bob Akins, Chairman and Chief Executive Officer of Cymer. "Paul has distinguished himself as a very capable executive, and we believe he will continue to contribute to the success of Cymer," concluded Akins.
Forward Looking Statements
Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements include, but are not limited to statements regarding the industry's transition to extreme ultraviolet (EUV) lithography and the company's role in such transition and the company's future success and individual contributions to that success. These statements are predictions based on current information and expectations that involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the demand for semiconductors in general, and, in particular, for leading-edge devices with smaller geometries; cyclicality in the market for semiconductor manufacturing equipment; the timing of customer orders, shipments and acceptances; delays or cancellations by customers of their orders; the performance and market acceptance of the company's new products or technologies; new and enhanced product offerings by competitors; the company's ability to meet its production and product development schedules; the rate at which semiconductor manufacturers adopt new technologies and purchase and take delivery of photolithography tools from the company's customers; the company's ability to secure adequate supplies of critical components for its advanced products; the company's ability to manage its expense levels and unanticipated expenses; the company's ability to achieve its forecasted gross margin which includes its ability to absorb manufacturing costs; the company's ability to align its cost structure with forecasted business levels; the company's ability to manage its foreign currency exposure; the performance and conditions in the United States and world financial markets; the policies and actions of the United States and other governments; and general economic conditions. For a discussion of these and other factors which may cause actual events or results to differ from those projected, please refer to the company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q, as well as other subsequent filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.
Cymer, Inc. (Nasdaq: CYMI) is the market leader in developing light sources, used by chipmakers worldwide to pattern advanced semiconductor chips. Cymer's light sources have been widely adopted by the world's top chipmakers and the company's installed base comprises approximately 3,300 systems. Continuing its legacy of leadership, Cymer is currently pioneering the industry's transition to EUV lithography, the next viable step on the technology roadmap for the creation of smaller, faster chips. The company is headquartered in San Diego, Calif., and supports its customers from numerous offices around the globe. Cymer maintains a Web site to which it regularly posts press releases, SEC filings, and additional information about Cymer. Interested persons can also subscribe to automated e-mail alerts or RSS feeds. Please visit www.cymer.com.
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