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10/22/2012

Ultra Clean Reports Third Quarter 2012 Financial Results

Results in line with updated guidance as integration with AIT begins

HAYWARD, CA — October 22, 2012 / PR Newswire / — Ultra Clean Holdings, Inc. (NASDAQ: UCTT), a leading developer and supplier of critical systems and subsystems for the semiconductor capital equipment, flat panel, medical, energy and research industries, today reported its financial results for the third quarter ended September 28, 2012.

The financial information presented for the third quarter of 2012 includes a full quarter of operations of Advanced Integration Technologies (“AIT”), which Ultra Clean merged with on July 3, 2012.

Revenue for the third quarter of 2012 was $100.8 million, a decrease of 1.1% compared to the second quarter of 2012 and a decrease of 4% compared to the same period a year ago. Semiconductor revenue was 86% of total revenue for the second and third quarters of 2012 and revenue outside the U.S. accounted for 26% of total revenue for the third quarter of 2012 compared to 37% for the previous quarter. Gross margin for the third quarter of 2012 was 14.2%, compared to 14.0% for the previous quarter and 12.2% for the same period a year ago.

The Company recorded a net loss of $1.7 million, or $0.06 per share in the third quarter of 2012 compared to net income of $3.9 million, or $0.17 per share in the previous quarter and net income of $3.2 million, or $0.14 per share for the same period a year ago. The net loss for the third quarter of 2012 includes pre-tax charges of $2.0 million for amortization associated with the AIT transaction and $2.5 million of one-time transaction costs. Excluding these charges the Company would have reported net income of $1.7 million, or $0.06 per share. The company’s tax rate for the third quarter of 2012 was 24%.

Cash at the end of the third quarter of 2012 was $58.3 million, an increase of $7.2 million from the previous quarter. Outstanding debt on our new bank facility was $79.8 million primarily related to the merger with AIT.

Clarence Granger, Ultra Clean’s Chairman and Chief Executive Officer stated: “On July 3, we announced that UCT completed the merger with Advanced Integration Technologies, which we believe significantly strengthens the value proposition for customers in all of our markets. I’m pleased with the progress made to date on the integration of AIT and am confident in the combined company’s competitive position as a leading provider of critical systems and subsystems for all of our served markets.”

Commenting on Ultra Clean’s corporate guidance, Granger noted: “We expect revenue for the fourth quarter of 2012 to range between $94 million to $99 million, with earnings (loss) per share in the range of $(0.03) to $0.00. Excluding amortization associated with the merger with AIT we expect earnings per share to be in the range of $0.01 to $0.05. We are forecasting a tax rate of 24% for the fourth quarter and a tax rate of 20% for the year.”

Ultra Clean will conduct a conference call today, Monday, October 22, beginning at 1:45 p.m. PDT at 888-561-5097 (domestic) and 706-679-7569 (international). A replay of the webcast will be available for fourteen days following the conference call at 855-859-2056 (domestic) and 404-537-3406 (international). The confirmation number for the live broadcast and replay is 47057638 (all callers). The conference call will also be webcast live and be available for fourteen days on our website.

About Ultra Clean Holdings, Inc.

Ultra Clean Holdings, Inc. is a leading developer and supplier of critical subsystems for the semiconductor capital equipment, flat panel, medical, energy and research industries. Ultra Clean offers its customers an integrated outsourced solution for gas delivery systems and other subassemblies, improved design-to-delivery cycle times, component neutral design and manufacturing and component testing capabilities. Ultra Clean’s customers are primarily original equipment manufacturers for the semiconductor capital equipment, flat panel, medical, energy and research industries. Ultra Clean is headquartered in Hayward, California. Additional information is available at UCT.com

Safe Harbor Statement

The foregoing information contains, or may be deemed to contain, “forward-looking statements” (as defined in the US Private Securities Litigation Reform Act of 1995) which reflect our current views with respect to future events and financial performance. We use words such as “anticipates,” “projection,” “forecast,” “believes,” “plan,” “expect,” “future,” “intends,” “may,” “will,” “should,” “estimates,” “predicts,” and similar expressions to identify these forward-looking statements. Forward looking statements included in this press release include our expectations with respect to fourth quarter 2012 revenue and earnings per share and our forecasted tax rate for the fourth quarter of fiscal 2012 and the full fiscal year 2012. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, our actual results may differ materially from the results predicted or implied by these forward- looking statements. These risks, uncertainties and other factors also include, among others, those identified in “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in our annual report on Form 10-K for the year ended December 30, 2011 and our quarterly report on Form 10-Q for the quarter ended June 29, 2012 filed with the Securities and Exchange Commission. Ultra Clean Holdings, Inc. undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information future developments or otherwise.

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