Ultratech, Inc.
Jul 20, 2016

Ultratech Intends to Adopt 10b5-1 Plan in Conjunction With Stock Repurchase Program

SAN JOSE, Calif.--(BUSINESS WIRE)-- Ultratech, Inc. (Nasdaq:UTEK) a leading supplier of lithography, laser-processing and inspection systems used to manufacture semiconductor devices and high-brightness LEDs (HB-LEDs), today announced today that it intends to adopt a plan to repurchase its stock under Rule 10b5-1 under the Securities Exchange Act of 1934. Rule 10b5-1 allows companies to repurchase shares at times when it might otherwise be prevented from doing so by securities laws or because of self-imposed trading blackout periods. Ultratech may also make repurchases through open market purchases, block trades, privately negotiated transactions and/or derivative transactions. Repurchases will be made subject to market conditions and management's ongoing determination that it is the best use of available cash. The Company expects to use cash on hand to fund any repurchases.

The shares to be repurchased under this 10b5-1 plan would be part of the stock repurchase program authorized by the Ultratech Board of Directors on October 28, 2014, under which $60 million worth of shares remain to be purchased.

Repurchases made under the plan are subject to the Securities and Exchange Commission's regulations as well as certain price, market, volume, and timing constraints specified in the plan. Since repurchases under the plan are subject to certain constraints, there is no guarantee as to the exact number of shares that will be repurchased under the plan. Ultratech expects to use cash on hand to fund any repurchases.

Arthur W. Zafiropoulo, Chairman and Chief Executive Officer, stated, "We are today reinforcing our commitment to utilize our strong cash position to return capital to investors and build long-term shareholder value."

About Ultratech: Ultratech, Inc. (Nasdaq: UTEK) designs, builds and markets manufacturing systems for the global technology industry. Founded in 1979, Ultratech serves three core markets: front-end semiconductor, back-end semiconductor, and nanotechnology. The company is the leading supplier of lithography products for bump packaging of integrated circuits and high-brightness LEDs. Ultratech is also the market leader and pioneer of laser spike anneal technology for the production of advanced semiconductor devices. In addition the company offers solutions leveraging its proprietary coherent gradient sensing (CGS) technology to the semiconductor wafer inspection market, and provides atomic layer deposition (ALD) tools to leading research organizations, including academic and industrial institutions. Visit Ultratech online at: www.ultratech.com.


Company Contact:
Ultratech, Inc.
Bruce R. Wright, 408-321-8835
Senior Vice President and CFO
Investor Relations Agency:
The Blueshirt Group
Suzanne Schmidt, 415-217-4962
Melanie Solomon, 415-217-4964

Source: Ultratech, Inc.

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