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[QUOTE]Originally posted by J_U_ICE: [QB] CMXX .33 Cimetrix Reports Third Quarter Financial Results 11/14/2006 Revenue Increases 19% for Quarter, 21% for Nine-Month Period Two Top-Tier 300mm Equipment Suppliers Worldwide Select Cimetrix Products SALT LAKE CITY, Nov 14, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Cimetrix, Incorporated (OTC: CMXX), a leading provider of factory automation software and solutions for the global semiconductor and electronics industries, today reported financial results for its third quarter and nine month period ended September 30, 2006. Third Quarter Results Revenue in the third quarter increased 19% to $1,243,000 from $1,043,000 in the third quarter a year ago. Software revenue and professional services revenue both increased, reflecting continued customer demand for the Company's products and services. Software revenue was up 20% to $956,000 from $796,000 in the third quarter last year. The largest component of software revenue -- new software licenses -- grew by 31% to $684,000 from $523,000, reflecting higher sales of Software Development Kits ("SDKs") and runtime revenue associated with OEM customer machine shipments. The second component of software revenue -- software license updates and product support -- totaled $272,000, essentially unchanged from last year. Professional services revenue grew by 16% in the third quarter to $287,000 from $247,000 reflecting the Company's expanded OEM Solution Center capabilities and new Data Management Solution Center for end-user business. Total operating costs and expenses in the third quarter increased 24% to $1,560,000 from $1,258,000 in the third quarter last year, a reflection of general business expansion as well as ongoing investments to drive future growth. The Company is particularly focused on growing its CIMPortal(TM) product line, its professional services division and further developing the Japanese market opportunity. Net loss in the third quarter was $325,000, or $0.01 per basic and diluted share, as compared with a net loss of $246,000, or $0.01 per basic and diluted share, in the same period a year ago. The $79,000 increase in net loss year- over-year was partially attributable to an increase in non-cash depreciation and amortization, which grew to $107,000 in the third quarter from $31,000 in the same quarter a year ago. In addition, the Company incurred $93,000 in non-cash share-based compensation expense in the third quarter resulting from the adoption of SFAS 123R on January 1, 2006. This expense was not required in third quarter of last year. Without the increase in these two non-cash expenses, the Company's net loss would have improved over the prior year third quarter. "We are generally pleased with our third quarter financial results, which showed strong year-over-year revenue growth and continued control of our expense base relative to our overall growth rate," said Bob Reback, president and CEO. "It's important to emphasize that our $325,000 net loss in the third quarter included more than $199,000 in non-cash charges related to depreciation, amortization and share-based compensation. Our long-term outlook for increasing revenue and achieving sustained profitability remains positive. "We continue to make selective investments to remain at the forefront of developing solutions for the new Semiconductor Equipment and Materials International (SEMI) Interface A standard -- an area that holds tremendous long-term growth prospects and in which Cimetrix has assumed an industry leadership role. In the third quarter we won key new OEM accounts in very competitive environments in the United States, Europe and Japan. Additionally, our OEM Solution Center and Data Management Solution Center continue to drive increased professional services revenue." Nine-Month Results Revenue through nine months increased 21% to $4,045,000 from $3,341,000 in the same period a year ago. This growth was driven by professional services revenue, which increased 117% to $1,278,000 from $589,000, reflecting strong growth in OEM Solution Center projects and the addition of revenue from the new Data Management Solution Center. Software revenue showed modest growth year over year -- to $2,767,000 from $2,752,000. Total operating costs and expenses through nine months increased 35% to $4,897,000 from $3,620,000 in the same period a year ago. The increase of $1,277,000 includes $322,000 in non-cash depreciation and amortization and a non-cash charge of $242,000 for share-based compensation. Net loss for the nine months was $878,000, or $0.03 per basic and diluted share, as compared with $381,000, or $0.01 per basic and diluted share, in the same period last year. Again, without the increase in these two non-cash expenses, the Company's net loss would have improved over the prior year nine-month period. Third Quarter and Subsequent Highlights -- Top Tier European Equipment Supplier selected CIMConnect(TM), CIM300(TM) and CIMPortal products for new equipment model -- Top Tier Japanese Equipment Supplier selected CIMPortal product for Interface A across all equipment model types -- Another Japanese Equipment Supplier selected CIMConnect, CIM300 and CIMPortal products as standard factory automation platform going forward -- Major US disk drive Equipment Supplier selected CIMPortal for Interface A -- OEM Solution Center delivered a full 300mm automation solution for a metrology start-up company on time, on budget About Cimetrix Incorporated Cimetrix designs, develops, markets and supports factory automation software for the global semiconductor and electronics industries. Cimetrix's connectivity software allows equipment manufacturers to quickly implement the SECS/GEM standards, with over 10,000 connections shipped worldwide. It also provides solutions to meet the 300mm SEMI communications standards, with OEM customer installs in all major 300mm fabs, and products designed for the new Interface A standards. Cimetrix's PC-based motion control software is used by leading equipment manufacturers for demanding robotic applications. Cimetrix provides total solutions for its customers with engineering services and passionate technical support. Major products include CIMConnect, CIM300, CIMPortal and CODE(TM) (Cimetrix Open Development Environment). For more information, please visit [URL=http://www.cimetrix.com.]www.cimetrix.com.[/URL] Safe Harbor Statement The matters discussed in this news release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may be identified by words such as "may," "will," "expect," "intend," "anticipate," "believe," "estimate," "plan," "project," "could," "potential," "should," "hope," "likely," and "continue" and similar terms used in connection with statements regarding the Company's outlook, revenue environment and financial and operational performance. Statements about the Company's prospects for future growth, operational success and profitability are forward-looking statements. The comments made by the Company's senior management in regards to future developments are based on current expectations and involve risks and uncertainties that may adversely affect expected results, including but not limited to the adoption by chip makers of the Interface A standards specified by SEMI, which is an independent industry trade group, market acceptance of the Company's products, the competitive position of the Company and its products, which include CODE, CIMConnect, CIM300 and CIMPortal product families, the economic climate in the markets in which the Company's products are sold, technological improvements, and other risks discussed more fully in filings by the Company with the Securities and Exchange Commission. Many of these factors are beyond the control of the Company. Reference is made to the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which detail these and other risk factors relating to the Company. Consolidated Statements of Operations Three Months Ended Nine Months Ended September 30, September 30, 2006 2005 2006 2005 Revenues: New software licenses $684,000 $523,000 $1,954,000 $1,967,000 Software license updates and product support 272,000 273,000 813,000 785,000 Total software revenues 956,000 796,000 2,767,000 2,752,000 Professional services 287,000 247,000 1,278,000 589,000 Total revenues 1,243,000 1,043,000 4,045,000 3,341,000 Operating costs and expenses: Cost of revenues 545,000 454,000 1,669,000 968,000 Sales and marketing 287,000 211,000 870,000 786,000 Research and development 256,000 273,000 809,000 859,000 General and administrative 365,000 289,000 1,227,000 914,000 Depreciation and amortization 107,000 31,000 322,000 93,000 Total operating costs and expenses 1,560,000 1,258,000 4,897,000 3,620,000 Loss from operations (317,000) (215,000) (852,000) (279,000) Other income (expense) Interest and other income 10,000 18,000 28,000 45,000 Interest expense (18,000) (49,000) (54,000) (147,000) Total other expense (8,000) (31,000) (26,000) (102,000) Loss before income taxes (325,000) (246,000) (878,000) (381,000) Provision for income taxes - - - - Net loss $(325,000) $(246,000) $(878,000) $(381,000) Income (loss) per common share: Basic $(0.01) $(0.01) $(0.03) $(0.01) Diluted $(0.01) $(0.01) $(0.03) $(0.01) Weighted average number of shares outstanding: Basic 31,927,000 30,329,000 31,927,000 29,987,000 Diluted 31,927,000 30,329,000 31,927,000 29,984,000 Consolidated Balance Sheets September 30, December 31, 2006 2005 Assets (Unaudited) Current assets: Cash and cash equivalents $476,000 $778,000 Accounts receivable, net 1,147,000 1,289,000 Inventories 13,000 - Prepaid expenses and other current assets 46,000 61,000 Total current assets 1,682,000 2,128,000 Property and equipment, net 149,000 189,000 Intangible assets, net 646,000 894,000 Goodwill 64,000 64,000 Other assets 28,000 20,000 Total assets $2,569,000 $3,295,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $150,000 $162,000 Accrued expenses 219,000 269,000 Deferred revenue 476,000 405,000 Notes payable - related parties 173,000 199,000 Notes payable 426,000 502,000 Total current liabilities 1,447,000 1,537,000 Commitments and contingencies Stockholders' equity: Common stock, $.0001 par value, 100,000,000 shares authorized; 31,952,432 shares issued 3,000 3,000 Additional paid-in capital 31,682,000 31,440,000 Treasury stock, at cost (49,000) (49,000) Accumulated deficit (30,514,000) (29,636,000) Total stockholders' equity 1,122,000 1,758,000 Total liabilities and stockholders' equity $2,569,000 $3,295,000 SOURCE Cimetrix, Incorporated Dave Faulkner of Cimetrix, Incorporated, +1-801-256-6500, or fax, +1-801-256-6510, or dave.faulkner*cimetrix.com; or Mark Button of Positio Public Relations, +1-408-453-2400, or fax, +1-408-453-2405, or mark*positio.com, for Cimetrix, Incorporated http://www.cimetrix.com Copyright (C) 2006 PR Newswire. All rights reserved [/QB][/QUOTE]
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