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Unit Instruments Inc

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BUSINESS
March 19, 1996
Unit Instruments Inc. agreed to acquire Control Systems Inc. of Rio Rancho, N.M., for about $5 million in stock and cash. Control Systems, which posted sales of about $11 million for 1995, fabricates gas isolation boxes and gas panels for semiconductor manufacturers. Unit Instruments expects to complete the acquisition in April.
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BUSINESS
January 23, 1999 | (John O'Dell)
Shareholders of Yorba Linda-based Unit Instruments Inc. on Friday approved the company's acquisition by a subsidiary of United States Filter Corp., in a stock swap worth about $40 million. The deal took effect immediately, and Unit's stock was removed from the Nasdaq market Friday at the close of business. Unit, which becomes a wholly owned subsidiary of U.S.
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BUSINESS
August 14, 1997 | (P.J. Huffstutter)
Unit Instruments Inc. has hired investment banking firm Needham & Co. to find new markets, potential joint-venture partners or possible buyers. The company, which makes products used in building semiconductors, insists it is not in financial trouble. "We're seeing the semiconductor industry starting a new up cycle and want to explore new ways to make ourselves stronger in this market," said Unit spokesman Gary N. Patten.
BUSINESS
November 13, 1998 | Bloomberg News
Unit Instruments Inc., a Yorba Linda-based maker of computer-chip equipment parts, said it agreed for a second time to reduce the price at which it will be acquired by U.S. Filter Corp. Under the new terms, U.S. Filter, the No. 1 water-treatment company, will pay between $8 and $10 in stock for each Unit Instruments share, or a maximum of about $40 million. That's down from $11.03 in stock for each Unit Instruments share, or $44 million, in the previous agreement, announced Aug. 5.
BUSINESS
June 4, 1996
Unit Instruments Inc. said Monday it has completed its acquisition of Control Systems Inc. for stock and cash valued at about $5 million. Control Systems, a privately held fabricator of gas isolation boxes and gas panels, will operate as a subsidiary of Unit Instruments. Control Systems is based in Rio Rancho, N.M. Unit Instruments Inc. is a leading manufacturer of mass flow controllers and other equipment critical to the semiconductor manufacturing process.
BUSINESS
October 2, 1998
Unit Instruments Inc., Yorba Linda supplier of mass flow controllers for the semiconductor equipment industry, lost $1.6 million, or 39 cents a share, for the first fiscal quarter ended Aug. 29, which included $714,000 in pretax charges related to inventory reserves, severance expenses for previously announced staff cuts and legal fees related to merger activities and litigation. For the first quarter of the prior fiscal year, the company earned $359,000, or 8 cents a share.
BUSINESS
January 22, 1998 | Dow Jones
Unit Instruments Inc. named president and chief executive Michael J. Doyle to the additional position of chairman. Doyle replaces James C. Levinson, who retired. The company named Donald M. Spero director, filling the vacant board seat. Spero is principal of Spero Quality Strategies, Bethesda, Md., which provides investment and advisory services.
BUSINESS
June 30, 1998
Unit Instruments Inc. shares surged 39% after the maker of parts for semiconductor manufacturing equipment said it's in talks to be acquired. Yorba Linda-based Unit Instruments didn't identify the buyer or disclose other details on the proposed transaction. Its shares rose $2.56 to close at $9.13 in Nasdaq trading. Earlier, the stock hit $10.75, its biggest gain since changing its name from Autoclave Engineers Inc. on Nov. 17, 1995. Any sale would need approval from shareholders.
BUSINESS
September 26, 1996
Unit Instruments Inc. posted lower net income and sales for the fiscal first quarter ended Aug. 31. The manufacturer of mass flow controllers and gas panels for the semiconductor manufacturing process said that net income totaled $102,000, or 2 cents a share. A year ago, the company posted net income of $1.3 million, or 29 cents a share, including the results of Autoclave Engineers Group, which was sold on Sept. 22, 1995. Sales were down 11% to $13.3 million from $15 million.
BUSINESS
January 7, 1998
Unit Instruments Inc., which makes mass flow controllers and gas delivery systems for the semiconductor industry, reported net income of $564,000, or 12 cents a share, for the second fiscal quarter ended Nov. 29. For the same period a year ago, the company posted a net loss of $2.7 million, or 61 cents a share, which included a charge of $296,000 from the consolidation of facilities and severance expenses for work-force reductions. Sales rose 86% to $14.9 million from $8 million.
BUSINESS
October 2, 1998
Unit Instruments Inc., Yorba Linda supplier of mass flow controllers for the semiconductor equipment industry, lost $1.6 million, or 39 cents a share, for the first fiscal quarter ended Aug. 29, which included $714,000 in pretax charges related to inventory reserves, severance expenses for previously announced staff cuts and legal fees related to merger activities and litigation. For the first quarter of the prior fiscal year, the company earned $359,000, or 8 cents a share.
BUSINESS
August 6, 1998 | Bloomberg News
U.S. Filter Corp., the No. 1 water-treatment company, cut its purchase price for computer chip-equipment parts maker Unit Instruments Inc. to $44 million from $50.5 million amid a weak semiconductor market. U.S. Filter will pay $11.03 in stock for each share of Unit, Unit said. That's down from $12.62 a share in the original purchase agreement from July 2. Yorba Linda-based Unit Instruments had about 4 million shares outstanding as of March 31. U.S.
BUSINESS
July 18, 1998 | Bloomberg News
Unit Instruments Inc. said Friday it will fire 42 employees at its plant in Yorba Linda because of a weak semiconductor market. The cuts represent about 15% of the company's 308-employee work force. Unit, which makes parts for semiconductor-manufacturing equipment, said production also will be reduced to four days from five at its plants worldwide. The company said it hasn't determined the amount of the charge it will take in its first quarter ending Aug. 29.
BUSINESS
July 3, 1998 | JOHN O'DELL, TIMES STAFF WRITER
Unit Instruments Inc., which makes parts for semiconductor manufacturing equipment, said Thursday it has signed an agreement to be acquired by U.S. Filter Corp. in a stock transaction valued at $50.5 million. Palm Desert-based U.S. Filter will pay $12.62 in stock for each share of Unit--a 40% premium over Thursday's closing price of $9 a share. The agreement was announced after the U.S. markets closed. Unit, based in Yorba Linda, will become a subsidiary of U.S. Filter's USF Kinetics group.
BUSINESS
June 30, 1998 | JOHN O'DELL, TIMES STAFF WRITER
Unit Instruments Inc. shares soared Monday on word the Yorba Linda-based maker of semiconductor manufacturing equipment is in talks to be purchased by another company. Company officials could not be reached for comment. They announced almost 10 months ago that they were seeking an outside investor or possible purchaser to help stabilize the company. Unit, which lost $4.
BUSINESS
June 30, 1998
Unit Instruments Inc. shares surged 39% after the maker of parts for semiconductor manufacturing equipment said it's in talks to be acquired. Yorba Linda-based Unit Instruments didn't identify the buyer or disclose other details on the proposed transaction. Its shares rose $2.56 to close at $9.13 in Nasdaq trading. Earlier, the stock hit $10.75, its biggest gain since changing its name from Autoclave Engineers Inc. on Nov. 17, 1995. Any sale would need approval from shareholders.
BUSINESS
April 9, 1998
Unit Instruments Inc., a manufacturer of mass flow controllers and gas delivery systems for the semiconductor and industrial markets, said it lost $5.1 million, or $1.21 a share, for the third fiscal quarter, which included a pretax restructuring charge of $4.9 million and $1.5 million for other expenses. That compares with a net loss of $900,000, or 21 cents a share, for the corresponding period in 1997. Sales for the quarter ended Feb. 28 increased 39% to $13.3 million from $9.6 million.
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