Lou, Who picked .08 cents? The Nightowl wins, man he knows his numbers. Hey he still runs the Inn,too bad they reposessed the furniture,but we can all sit on the floor,we still have the plush rug.
Thursday May 7, 4:02 pm Eastern Time
Company Press Release
Ramtron Reports First Quarter 1998 Results
Strengthened Product Sales Lead to 53% Revenue Increase
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--May 7, 1998--U.S. semiconductor maker Ramtron International Corporation (NASDAQ:RMTR - news) reported results today for the first quarter ended March 31, 1998. First quarter adjusted net loss was $3.2 million, or a loss of $0.08 per share on both a basic and diluted basis, compared with a net loss of $3.7 million, or a loss of $0.10 per share, for the year-ago quarter on a basic and diluted basis. Revenues were $4.9 million, compared with $3.2 million, for the same period in 1997. The net loss for the quarter included a non-cash charge of $320,000 related to the company's recent private placement of preferred stock.
''FRAM(R) and EDRAM(R) products sales fueled our 53% revenue increase during the quarter,'' said L. David Sikes, Ramtron's chairman and chief executive officer. ''We expect continued progress going forward resulting from our increasing product supply and improving cost structures. As our foundries at Rohm, IBM and Siemens produce FRAM and EDRAM products through the second half of the year, we will have an excellent opportunity to expand into new applications and increase unit volumes with existing customers.''
Sales of Ramtron's FRAM memory products in the first quarter were $686,000, compared with $312,000, in the year-ago quarter. EDRAM product sales in the first quarter were $3.6 million, compared with $2.8 million a year earlier. Significant applications for FRAM and EDRAM products during the quarter included security systems, electronic power meters, laser printers, logic analyzers, RAID disk controllers, voice messaging systems, ethernet switches, communications bridge/routers, and voice messaging and voice-over-internet systems.
During the quarter the company announced Siemens Semiconductors as a manufacturing source for the company's ESDRAM chip. The agreement enables Ramtron's subsidiary, Enhanced Memory Systems, Inc., to support demand for its 133 MHz ESDRAM product as the industry standardizes on 100 and 133 MHz SDRAM for next-generation computer applications. In addition, the company completed the sale of $17.4 million of convertible preferred stock in a private placement with accredited investors. Ramtron plans to use the net proceeds of the equity placement to fund working capital and for general corporate purposes, including continued research and development, manufacturing, and marketing of its FRAM and EDRAM technologies. Other announcements during the quarter included significant FRAM and EDRAM product orders for application in power meters and RAID disk controllers.
Also during the quarter, the company announced that its Advanced Materials Group developed a new high endurance ferroelectric capacitor structure based on an optimized PZT (Lead, Zirconium, and Titanium) materials composition. When integrated with Ramtron's memory products, the structure is expected to combine FRAM memory's proven high-speed, data saving characteristics with a virtually unlimited lifecycle.
Except for historical information, the statements proceeding are forward-looking statements that involve risks and uncertainties. Investors are cautioned that such statements are only predictions and the actual events or results may differ materially. These forward-looking statements speak only as of this date. The company undertakes no obligation to publicly release the results of any revisions to the forward-looking statements made today to reflect events or circumstances after today, or to reflect the occurrence of unanticipated events.
Ramtron is the leading developer of ferroelectric random access memories (FRAM)(R) products -- new high-performance nonvolatile memories that merge the benefits of many mainstream memory technologies into a single device. The company also develops and markets ultra-high performance EDRAM(R) memory products through its wholly owned subsidiary, Enhanced Memory Systems, Inc. Ramtron holds 120 international and U.S. patents covering its proprietary technologies and products, and has more than 99 additional patent applications filed.
Not that bad,like looking at the whole on the Titanic,and saying its a small leak.
Hiram |
