Here we have it...
Earnings of $0.40 per sh., up 67% sequentially from last Q.
Trailing 12 Mo. eps is now $0.86 which gives it a p/e in SINGLE DIGITS.
Catalyst Semiconductor Q1'00 Net Profits Rise Sharply as Revenues Increase 176% vs. Q1'99 Earnings Per Share $0.40
SUNNYVALE, Calif.--(BUSINESS WIRE)--Aug. 17, 2000--Catalyst Semiconductor, Inc. (OTCBB:CATS - news) today announced its financial results for the first fiscal quarter ended July 31, 2000.
Revenues for the first quarter were $25.4 million, up 176% from revenues of $9.2 million in the first quarter a year ago. Net income for the first quarter was $8.2 million or $0.40 per diluted share, as compared to a net income of $0.9 million, or $0.05 per diluted share in the first quarter a year ago. Compared to the previous quarter, revenue was up 49% and income was up 67%. During the quarter, cash increased by $9.5 million. Debt remained at $2.0 million, the minimum amount allowed by the Company's bank agreement.
``First quarter results reflect progress in ramping up additional foundry capacity at Oki and Xfab'', said Radu Vanco, President and Chief Executive Officer. ``We continue to regard expanding foundry capacity as our primary objective, since demand has been stronger than our production capacity. In addition, as we complete the process of transferring our products to the more advanced technology currently operational at both Oki and Xfab, we'll be able to generate incremental revenue from each wafer.''
``The growth of Internet related infrastructures and applications, of telecommunications in general and the emergence of a larger variety of consumer products, including hand-held devices, provides numerous opportunities for Company's products'', continued Vanco. ``We are also present in industrial, automotive and home electronics market segments. This represents an opportunity for the Company to diversify its application base and become less dependent on the performance of any single market segment, such as personal computers or cellular telephones.''
``Since we still have a relatively small market share in our core business, investing in expanding our sales organization is a high priority. During the first quarter we have opened two new sales offices - one in Seoul, South Korea and another in Singapore, both areas in which we see substantial opportunities'', concluded Vanco.
The Company has also announced that it has formally applied for NASDAQ re-listing on June 16th, 2000. The Company understands this process typically takes 60 to 90 days.
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