Needham & Company Maintains a 'Hold' on Mattson Technology (MTSN); Improved Margins Suggest Breakeven Should Come in 2012

Needham & Company maintains a 'Hold' on Mattson Technology (NASDAQ: MTSN).

Needham analyst says, "MTSN reported better than expected 3Q11 earnings on strong margin recovery. 4Q11 guidance calls for lower revenue, which is inline with comments by peers, but below the unrealistic consensus estimates. We believe MTSN is actively reducing costs to stem the ongoing losses, but given the lower level of business, we continue to anticipate losses at least in 1H12. While the business environment has deteriorated, we believe customer adoptions of new etch and RTP products will enable MTSN to outgrow the industry as the cycle rebounds, which we expect to come in 1H12. Maintain Hold but will revisit our rating if the company demonstrates signs of achieving profitability...We raise our 2011 EPS to ($0.34) on better results, but leave our 2012 EPS at ($0.08)."

For more ratings news on Mattson Technology click here and for the rating history of Mattson Technology click here.

Shares of Mattson Technology closed at $1.40 yesterday.

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