Doug...thanks to the ruckus in the mkts i was able to get this today under 9.00...and considering that we are post a very positive earn report i consider myself lucky (at least I do TODAY...recent low of 8.13 was tested yest and we moved right back up again)...52wh set in March was close to 15.00, and that was w/o the firm forecast and very supportive numbers we saw a few days ago. SEMX NOW is where I hope CPSX will be down the road a bit.
gpg
SEMX Corporation Announces First Quarter Net
Income From Operations Increase of 237%
ARMONK, N.Y., May 1 /PRNewswire/ -- SEMX Corporation (the ``Corporation'') (Nasdaq: SEMX - news), reported Net
Income of $843,000 and Basic Earnings per Share of $.14 for the three month period ended March 31, 2000. This compares
with Net Income of $250,000 and Basic Earnings per Share of $.04 for the three month period ended March 31, 1999, a
237.0% increase excluding the gain on the sale of the Corporation's connector business in February 1999.
Total Revenue increased 28.8% to $16,443,000, excluding $2,122,000 of connector business revenue, which was recognized
in the first quarter of 1999. The comparative increase of Net Sales of the Materials Group, excluding the connector business
revenue in 1999, was 36.5%.
Operating Income, after interest expense and excluding the gain on the sale of the connector business, increased 251.3%, from
$372,000 in the first quarter of 1999 to $1,307,000 in the first quarter of 2000.
Gilbert D. Raker, Chairman of the Board, said, ``SEMX's management is pleased with the continued improvement in the first
quarter. Each of the Corporation's operating units recorded improved results in Total Revenue and Net Income compared to
last year's first quarter. The Materials Group increased its contribution to Net Income by 93.3% and the Services Group
decreased its net loss by 57.6%.''
Frank J. Polese, Vice Chairman of SEMX and President of SEMX's Materials Group, said, ``While Polese Company
continues to be the major contributor to the Materials Group's growth, the SPM operating unit grew significantly during this
quarter. The integration of the Polese Company and SPM operating units is proceeding well and the benefits to our customers
are recognizable. With the completion of the recent acquisition of ceramic packaging technology, SEMX's Materials Group has
strengthened its assembled products capability. This will enable a broader participation in the growth of thermal management
products to the wireless and Internet infrastructure markets.'' |
