Ramtron Reports Third-Quarter 2005 Financial Results


How to Participate

Ramtron Third-Quarter 2005 Results Teleconference

November 8, 2005 at 2:00 p.m. PT / 5:00 p.m. ET

Go to the home page of the Ramtron site at www.ramtron.com and click on the teleconference link. From this site, you can access the teleconference webcast, assuming that your computer system is configured properly. A webcast replay will be available for one year, and a telephonic replay will be available for seven days after the live call at (706) 645-9291, code #1605100.

About Ramtron

Ramtron International Corporation, headquartered in Colorado Springs, Colorado, is a fabless semiconductor company that designs, develops and markets specialized semiconductor memory, microcontroller and integrated semiconductor solutions used in a wide range of product applications and markets.

Cautionary Statements

Except for historical information, this press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words or phrases such as "believe," "expect," "anticipate," "should," and "potential," among others. These statements include statements about Ramtron's expected revenue, gross margin, and operating expenses for the fourth quarter of 2005; cash balance at December 31, 2005; and finalizing a mortgage on the company's headquarters facility, resolving covenant issues, and establishing new loan covenants. These forward-looking statements are inherently difficult to predict and involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to: general and regional economic conditions and conditions specific to the semiconductor industry; demand for Ramtron's products and the products of ENEL; order cancellations or reduced order placements; product sales mix; the timely development of new technologies; competitive factors such as pricing pressures on existing products and the timing and market acceptance of new product introductions; Ramtron's ability to maintain an appropriate amount of low-cost foundry production capacity from its sole foundry source in a timely manner; the foundry partner's timely ability to successfully manufacture products for Ramtron; the foundry partner's ability to supply increased orders for FRAM products in a timely manner using Ramtron's proprietary technology; any disruptions of Ramtron's foundry or test and assembly contractor relationships; currency fluctuations; unexpected design and manufacturing difficulties; and the risk factors listed from time to time in Ramtron's SEC reports, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2004 and Quarterly Reports filed during 2005. Copies of Ramtron's Forms 10-K, 10-Q, and 8-K, and any other documents are available at no charge at the SEC's website ( www.sec.gov) or from the company.

All forward-looking statements included in this release are based upon information available to Ramtron as of the date of this release, which may change. Ramtron intends to continue its policy of not updating forward-looking statements other than in publicly available documents, even if experience or future changes show that anticipated results or events will not be realized.

The financial information in this press release and the attached financial statements have been prepared from the books and records of the company with the omission of certain information and disclosures normally included in financial statements.


                   RAMTRON INTERNATIONAL CORPORATION
                  THIRD-QUARTER FINANCIAL HIGHLIGHTS
                 CONSOLIDATED STATEMENTS OF OPERATIONS
           (Amounts in thousands, except per-share amounts)
                              (Unaudited)




                                Three Months Ended   Nine Months Ended
                                   September 30,        September 30,
                                  2005      2004       2005     2004
                                --------  ---------  -------- --------
Revenue:
  Product sales                  $8,374    $10,226   $24,087  $28,405
  License and development fees      179        179       537      538
  Royalties                         198        164       587      582
  Customer-sponsored research 
   and development                   --        170       250      551
                                --------  ---------  -------- --------
                                  8,751     10,739    25,461   30,076
                                --------  ---------  -------- --------
Costs and expenses:
  Cost of product sales 
   exclusive of provision for 
   inventory write-off            3,924      4,676    11,625   13,081
  Provision for inventory
   write-off                         21         30       857      150
  Research and development        1,798      1,540     5,039    4,594
  Customer-sponsored research 
   and development                   --        195       321      585
  General and administrative      1,254      1,246     3,214    3,554
  Sales and marketing             1,155      1,488     3,631    3,857
  Write-off of purchased 
   in-process research and 
   development expense            1,067         --     1,067       --
  Write-off of debt and loss on
   extinguishment                 1,624         --     1,624       --
                                --------  ---------  -------- --------
                                 10,843         9,175        27,378      25,821
                                                                --------    ---------    --------  --------
Operating  income  (loss)  from
  continuing  operations                      (2,092)          1,564        (1,917)      4,255

Interest  expense,  related  party            --                (84)          (162)        (329)
Interest  expense,  other                          (86)            (222)          (479)        (673)
Other  income  (expense),  net                    (1)                  9                47              27
                                                                --------    ---------    --------  --------
Income  (loss)  from  continuing
  operations  before  income  tax  
  provision                                              (2,179)          1,267        (2,511)      3,280
Income  tax  provision                                  --                (34)              --            (55)
                                                                --------    ---------    --------  --------
Income  (loss)  from  continuing
  operations                                            (2,179)          1,233        (2,511)      3,225
Income  (loss)  from  discontinued
  operations                                                  (98)                58        (3,949)            40
                                                                --------    ---------    --------  --------
Net  income  (loss)                              $(2,277)        $1,291      $(6,460)    $3,265
                                                                ========    =========    ========  ========
Net  income  (loss)  per  common  
  share:
    Basic:
        Income  (loss)  from
          continuing  operations              $(0.09)          $0.06        $(0.11)      $0.15
        Income  (loss)  from
          discontinued  operations            (0.01)                --          (0.18)            --
                                                                --------    ---------    --------  --------
        Total                                                $(0.10)          $0.06        $(0.29)      $0.15
                                                                ========    =========    ========  ========
    Diluted:
        Income  (loss)  from
          continuing  operations              $(0.09)          $0.06        $(0.11)      $0.14
        Income  (loss)  from
          discontinued  operations            (0.01)                --          (0.18)            --
                                                                --------    ---------    --------  --------
        Total                                                $(0.10)          $0.06        $(0.29)      $0.14
                                                                ========    =========    ========  ========
Weighted  average  common  shares
  outstanding:
    Basic                                                    23,110          22,151        22,652      22,215
                                                                ========    =========    ========  ========
    Diluted                                                23,110          23,459        22,652      23,571
                                                                ========    =========    ========  ========




                                            CONSOLIDATED  BALANCE  SHEETS
                                                (Amounts  in  thousands)
                                                            (Unaudited)


                                                                                    September  30,      December  31,
                                                                                          2005                        2004
                                                                                    -------------      ------------
ASSETS
Current  assets:
          Cash  and  cash  equivalents                              $    138                $    6,384
          Accounts  receivable,  net                                  6,960                      7,061
          Inventories                                                            6,403                      4,580
          Other  current  assets                                              437                          434
          Assets  of  discontinued  operations                      --                      6,421
                                                                                    -------------      ------------

Total  current  assets                                                  13,938                    24,880

Property,  plant  and  equipment,  net                        4,307                      3,970
Goodwill,  net                                                                  1,826                          585
Intangible  assets,  net                                                8,503                      3,792
Other  assets                                                                          91                          426
                                                                                    -------------      ------------

Total  assets                                                                $28,665                  $33,653
                                                                                    =============      ============

LIABILITIES  AND  STOCKHOLDERS'  EQUITY
Current  liabilities:
          Long-term  portion  of  promissory
            notes  and  line  of  credit
            classified  as  current                                    $3,317                            --
          Current  portion  of  long-term  debt                    350                          250
          Accounts  payable                                                  2,740                      2,915
          Accrued  liabilities                                            1,324                      2,662
          Deferred  revenue                                                  1,041                      1,350
          Liabilities  of  discontinued
            operations                                                                  --                      1,384
                                                                                    -------------      ------------

Total  current  liabilities                                          8,772                      8,561

Long-term  deferred  revenue                                        4,127                      4,986
Long-term  debt                                                                1,352                      4,914
                                                                                    -------------      ------------
Total  liabilities                                                        14,251                    18,461

Stockholders'  equity                                                  14,414                    15,192
                                                                                    -------------      ------------
                                                                                        $28,665                  $33,653
                                                                                    =============      ============

 





Review Article Be the first to review this article
Aldec

Featured Video
Jobs
Senior R&D Engineer...Timing Closure Specialist for EDA Careers at San Jose or Anywhere, CA
Senior Front-End RTL Design AE for EDA Careers at San Jose, CA
Senior Methodology Automation Engineer for EDA Careers at San Jose, CA
DDR 3-4-5 Developer with VIP for EDA Careers at San Jose, CA
Proposal Support Coordinator for Keystone Aerial Surveys at Philadelphia, PA
Upcoming Events
11th International Conference on Verification and Evaluation of Computer and Communication Systems at 1455 DeMaisonneuve W. EV05.139 Montreal Quebec Canada - Aug 24 - 25, 2017
The Rise of Mechatronics at Dassault Systèmes San Diego 5005 Wateridge Vista Drive San Diego CA - Sep 12, 2017
The Rise of Mechatronics at Buca di Beppo - Pasadena 80 West Green Street Pasadena CA - Sep 13, 2017
S2C: FPGA Base prototyping- Download white paper



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy