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To: Johnny Canuck who wrote (41116)	4/23/2004 12:31:02 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69989

Ramtron Reports First-Quarter Financial Results Thursday April 22, 4:01 pm ET Revenue Grows 32% Year Over Year FRAM Product Gross Margin Exceeds 50% COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--April 22, 2004--U.S. semiconductor maker Ramtron International Corporation (Nasdaq:RMTR - News), the leading supplier of nonvolatile ferroelectric random access memory (FRAM) products, today reported its financial results for the first quarter ended March 31, 2004. First quarter revenue from continuing operations increased 32%, to $13.5 million, compared with $10.2 million for the same quarter of 2003. First-quarter income from continuing operations was $1.2 million, or $0.05 per diluted share, compared with net income of $109,000, or $0.01 per diluted share, a year earlier. Ramtron's Enhanced Memory Systems, Inc. business became a discontinued operation under generally accepted accounting principles during the first quarter and is therefore not included in the results from continuing operations for all periods reported. FRAM business revenue for the first quarter of 2004 was $9.0 million, compared with $7.5 million for the same quarter of 2003. DRAM revenue from the company's Mushkin subsidiary totaled $4.5 million, compared with $2.7 million a year earlier. "The fundamental changes that we made in 2003 continue to have a positive effect on our financial performance," commented Ramtron CEO, Bill Staunton. "Our non-ENEL FRAM product revenue grew 33% over 4Q2003, and gross margin remained strong at better than 50%. Based on first-quarter sales momentum, we are raising our 2004 FRAM revenue growth target from 18% to 24%." "On the product development front, we completed our 1Mb FRAM design and expect to receive first wafers this week for verification," Staunton added. "In addition, we are readying our new line of Processor Companions, which will further expand our opportunities in the FRAM-enabled analog and mixed-signal product arena." Ramtron's Processor Companions address the diverse analog and mixed-signal integrated circuit (IC) market and are designed to streamline system design and enhance the functionality of the microprocessors used in them. Business Outlook The following statements are based on Ramtron's current expectations. These statements are forward-looking, and actual results may differ materially from those set forth in these statements. Ramtron undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Revenue for the second quarter ending June 30, 2004 is currently anticipated to be between $12.5 million and $13.5 million. Although the company anticipates increases in FRAM product revenue during the second quarter, revenue from the company's Mushkin subsidiary is expected to be lower than 1Q2004. Gross margin for the second quarter is currently anticipated to be between 38% and 42%. Operating expenses are expected to be between $4.2 million and $4.9 million. Revenue projections are based on, among other things, assumptions that FRAM product orders, including the rate of shipments to Ramtron's principal FRAM customer ENEL and revenue from the company's Mushkin subsidiary, will conform to management's current expectations. Costs and expenses fluctuate over time, primarily due to intermittent, non-recurring engineering charges for the development of new products. Conference Call Ramtron management's teleconference will be webcast live and a telephonic replay will be available for seven days. An archived webcast will be available for one year. How to Participate Ramtron First-Quarter Results Teleconference April 22, 2004 at 2:00 p.m. PT / 5:00 p.m. ET Go to the Investors page of the Ramtron site at www.ramtron.com and click on the teleconference link. From this site, you can listen to the teleconference, assuming that your computer system is configured properly. A telephonic replay will also be available for seven days after the live call at 719-457-0820, code #401808. [Harry: Not sure I see this as a positive report. Next Q rev will be flat to down and GM will be down. Still it is up more than 30 percent today]