in addition the the good news yest ref a new SBIR grant from the gov't the 10q came out a bit ago..we are moving sharply ahead here...i really like this situation:
SCCI trading at 1.15/1.45....
10q is out...6mo sales up sharply as is profit...net inc of .07 per sh vs loss of 0.10 per sh:
Revenues for the six months ended June 30, 2001 were $1,965,251 compared to $1,499,715 last year, an increase of $465,536 or 31.0%.
TMI division revenues increased 54.3% to $1,369,479 in 2001 from $887,707 in 2000. The increase is partially due to $280,000 in sales of tantalum and increases related to additional sales and marketing.
SCI division product revenues increased 21.9% to $321,631 from $263,800 the prior year. The increase is due to continued growth of its ceramic sputtering target business.
SCI division contract research revenues were $274,141 in 2001 compared to $302,037 in 2000. The research contract for NASA expired in 2001. This contact generated $70,454 in revenues in the first quarter of this year. The Company was awarded a Phase I SBIR grant from the National Science Foundation in January 2001 and $100,000 of the grant is included in revenues for the first half of 2001. Overall, the amount of sponsored research contracts that expired during the six months ended June 30, 2001 was not matched by grants received during the same period.
The Company was awarded a $300,000 extension to a Phase II SBIR grant from the National Science Foundation in the third quarter of 2001.
GROSS MARGIN
Gross margin in 2001 was $669,156 or 34.0% of total revenues compared to $301,682 or 20.1% of total revenue in 2000.
Gross margin, expressed as a percentage of sales revenues for TMI division was 39.3% in 2001 versus 22.8% in 2000. The improvement in gross margin is due primarily to increased sales as the gross margin benefited from better utilization of production capacity.
Gross margin on sales revenue for SCI division product sales was 24.9% in 2001 compared to 20.7% in 2000.
Gross margin on SCI division contract research revenue was 18.4% for 2001 compared to 21.0% in 2000.
For the six months ended June 30, 2001, basic and diluted earnings per common share were $0.06. Weighted average common shares outstanding totaled 1,819,963 for the basic and diluted methods.
For the six months ended June 30, 2000, basic and diluted loss per common share was $(0.10) per share. Weighted average common shares outstanding totaled 1,344,030 for the basic and diluted methods. |
