Rockaway43, To that company speaker I say....Surprise!!
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Ceramics Process Systems Announces First Quarter 2000 Results
CHARTLEY, Mass.--(BUSINESS WIRE)--May 2, 2000--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
Contact:
Ceramics Process Systems Corporation
Grant Bennett
(508) 222-0614 ext 18
gbennett@alsic.com
www.alsic.com |
