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Technology Stocks : JMAR Technologies(JMAR) -- Ignore unavailable to you. Want to Upgrade?

To: henry jakala who wrote (8257)	8/9/1999 9:55:00 AM
From: Paul Lee	Read Replies (1) \| Respond to of 9695

JMAR Technologies Announces Second Quarter Results; Revenue Growth Driven by Strong Demand from Semiconductor Industry SAN DIEGO--(BUSINESS WIRE)--Aug. 9, 1999--JMAR Technologies, Inc. (Nasdaq:JMAR), a growing provider of precision micro-technology products and systems, today announced the results for the second quarter, and six months ended June 30, 1999. Revenues for the quarter increased 12% to $6,769,000 from $6,063,000 in the second quarter of 1998. For the six-months, revenues rose 30% to $13,464,000, from $10,364,000 in the comparable 1998 period. The increase in revenues for both periods was chiefly attributable to a growth in demand from the semiconductor industry for the company's semiconductor products and services. The company incurred a net loss for the quarter of $(264,000), or $(0.01) a share, compared to net profit of $299,000, or $0.02 a share in the second quarter of 1998 and reported a net loss of $(857,000), or $(0.05) a share for the first six months of 1999, compared to net profit of $317,000, or $0.02, in the first half of last year. "Revenues for both the second quarter and six months were driven by higher sales from our rapidly growing fabless JMAR Semiconductor (JSI) division," said John S. Martinez, Ph.D., chairman and chief executive officer of JMAR Technologies. "While revenues at JSI continued to increase, more than offsetting the drop in sales at JMAR Precision Systems compared to the second quarter of 1998, JSI's margins are not yet at the point of equaling the margins that we have enjoyed in the past at Precision Systems." "Looking at the second quarter, on balance, revenues were the highest for any second quarter period in JMAR's history, and we were able to cut the first quarter's losses in half. Although sales at JMAR Precision Systems (JPSI) were down on a year-to-year basis, they were up 65% over the first quarter of this year, reflecting a healthy rebound in both bookings and product shipments. We are particularly encouraged by the growing amount of lithography equipment sales to the biotech industry, which partially offset the drop in equipment sales to disk drive manufacturers." Commenting on other developments, Dr. Martinez noted that profits were also impacted by the company's continuing high level of investments to accelerate the time-to-market entry for several new high-performance microelectronic manufacturing and semiconductor products, and by lower-margin government funded product development programs with applicability in both government and commercial markets. "As these new products and systems -- several of them big-ticket items -- begin to transition into the commercial marketplace, we expect the margin trend to begin to reverse itself."