well, here we are...very satisfactory to my mind....
(COMTEX) B: Ceramics Process Systems Announces First Quarter 2000 Res
B: Ceramics Process Systems Announces First Quarter 2000 Results
CHARTLEY, Mass., May 2, 2000 (BUSINESS WIRE) -- Ceramics Process Systems
Corporation (CPS)(OTC Bulletin Board:CPSX) today announced net income of $109
thousand, or $0.01 per basic common share, $0.01 per fully diluted common share,
on revenue of $1.35 million for the fiscal quarter ended April 1, 2000. This
compares with a net income of $151 thousand, or $0.01 per basic common share,
$0.01 per fully diluted common share, on revenue of $1.25 million for the fiscal
quarter ended April 3, 1999.
Grant Bennett, President, said: "Revenue in the first quarter of 2000 was 9%
higher than first quarter 1999 revenue of $1.25 million, and 44% higher than
fourth quarter 1999 revenue of $942 thousand. Although quarter-to-quarter
revenue, income and backlog will continue to fluctuate due to the timing of
specific customer orders, we believe the market for metal-matrix composites is
continuing to grow rapidly and that we are well positioned to capture that
growth. We have recently begun shipping production quantities to Europe, and we
have begun marketing and selling in Japan. Backlog as of the end of the first
quarter of 2000 was up 67% from backlog at the end of the first quarter of
1999."
"Net income in the first quarter of 2000 of $109 thousand was 28% lower than net
income in the first quarter of 1999 of $151 thousand. The lower net income is
primarily the result of high costs of goods sold, which in turn is the result of
changes in product mix in the quarter, and increased expenses and investments in
manufacturing infrastructure we believe are necessary to support future growth,"
commented Bennett.
CPS develops, manufactures and markets advanced metal-matrix composites for
housing and providing thermal management of high-density electronics. The
Company's products are primarily used in high-density microprocessor assemblies,
wireless basestations, motor controllers, and satellite communications.
This release may contain forward-looking statements. Various factors could cause
actual results to differ materially from those projected in such statements.
These factors include, but are not limited to, a general economic or business
downturn in 2000, or a downturn in the electronics industry.
CERAMICS PROCESS SYSTEMS CORPORATION
(CPS) (OTC Bulletin Board:CPSX)
Quarters Ended
April 1, April 3,
2000 1999
Revenues $1,354,459 $1,245,414
Net Income $108,901 $151,465
Basic earnings per basic share $0.01 $0.01
Weighted average basic shares 12,286,178 12,308,852
Diluted earnings per diluted share $0.01 $0.01
Weighted average diluted shares 12,581,786 12,488,954
Distributed via COMTEX.
Copyright (C) 2000 Business Wire. All rights reserved.
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CONTACT: Ceramics Process Systems Corporation
Grant Bennett
(508) 222-0614 ext 18
gbennett@alsic.com
www.alsic.com
KEYWORD: MASSACHUSETTS
INDUSTRY KEYWORD: AEROSPACE/DEFENSE
COMPUTERS/ELECTRONICS
HARDWARE
EARNINGS
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