Ramtron Reports First-Quarter 2009 Financial Results

As of March 31, 2009, the company did not have any borrowings outstanding under the line of credit.

Conference Call

Ramtron management’s teleconference today will be webcast live on the corporate website. Management plans to webcast slides to support its prepared remarks on quarterly results and business outlook, and then host a live question-and-answer session with institutional investors and research analysts.

How to Participate

Ramtron First-quarter 2009 Results Teleconference

May 7, 2009 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 # 92261483.

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. Specific forward-looking statements include statements about Ramtron’s expected revenue growth and income for full-year 2009. 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; 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 foundry sources in a timely manner; our foundry partners’ timely ability to successfully manufacture products for Ramtron; our foundry partners’ ability to supply increased orders for F-RAM 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, 2008 and Quarterly Reports filed during 2008. SEC-filed 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.

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.

In this release, the references to first quarter net income and earnings per share excluding stock-based compensation charges, income tax benefit, and restructuring and impairment charges, are not financial measures as defined by generally accepted accounting principles (GAAP). Management believes that the presentation of results excluding these charges provides meaningful supplemental information regarding the Company’s operational performance; however, these figures are not a replacement for the GAAP financial measures presented nor should they be given greater consideration by investors.

   

RAMTRON INTERNATIONAL CORPORATION

FIRST-QUARTER FINANCIAL HIGHLIGHTS

CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands, except per-share amounts)

(Unaudited)

 

 

Three Months Ended

March 31,

March 31,

2009

2008

Revenue:
Product sales $ 10,204 $ 13,866
License and development fees 179 179
Royalties 107 209
Customer sponsored research and development   --     50  
  10,490     14,304  
Costs and expenses:
Cost of product sales 5,535 6,496
Customer sponsored research and development -- 28
Research and development 2,682 2,894
Sales and marketing 1,803 1,938
General and administrative 1,513 1,877
Restructuring expense 459 --
Impairment charge   5,372     --  
  17,364     13,233  
Operating income (loss)

(6,874

)

1,071
 
Interest expense, other

(86

)

(98

)

Other income (expense), net   43    

(46

)

Income (loss) before income tax benefit (provision)

(6,917

)

927
Income tax benefit (provision)   506    

(362

)

Net income (loss)  

(6,411

)

  565  
Net income (loss) per common share:
Basic and diluted

$

(0.24

)

$ 0.02  
Weighted average common shares outstanding:
Basic   26,840     25,695  
Diluted   26,840     27,669  

 

 

       

CONSOLIDATED BALANCE SHEETS

(Amounts in thousands)

 

 

March 31,

 

December 31,

 

2009

 

2008

ASSETS

(Unaudited)

Current assets:
Cash and cash equivalents

 

$4,798

 

$9,900

Accounts receivable, net 10,042 11,274
Deferred income taxes, net 150 266
Inventories 9,948 9,992
Other current assets 1,199 1,110
Total current assets 26,137 32,542
 
Property, plant and equipment, net 6,958 5,635
Goodwill, net

--

1,971
Intangible assets, net 2,944 6,470
Long term deferred income taxes, net 5,824 5,174
Other assets 207 212
Total assets

 

$42,070

 

$52,004

 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable

$2,548

$4,930

Accrued liabilities 2,005 3,131
Deferred revenue 645 645
Current portion of long-term debt 384 382
Total current liabilities 5,582 9,088
 
Long-term deferred revenue 1,048 1,209
Long-term debt 4,559 4,577
Total liabilities 11,189 14,874
 
Stockholders' equity 30,881 37,130
 

Total liabilities and stockholders’ equity

 

$42,070

 

$52,004

 




Review Article Be the first to review this article
CST Webinar Series

EMA:

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
Retail Therapy: Jump starting Black Friday
Peggy AycinenaIP Showcase
by Peggy Aycinena
REUSE 2016: Addressing the Four Freedoms
More Editorial  
Jobs
ACCOUNT MANAGER MUNICH GERMANY EU for EDA Careers at MUNICH, Germany
Development Engineer-WEB SKILLS +++ for EDA Careers at North Valley, CA
Principal Circuit Design Engineer for Rambus at Sunnyvale, CA
AE-APPS SUPPORT/TMM for EDA Careers at San Jose-SOCAL-AZ, CA
FAE FIELD APPLICATIONS SAN DIEGO for EDA Careers at San Diego, CA
Manager, Field Applications Engineering for Real Intent at Sunnyvale, CA
Upcoming Events
Zuken Innovation World 2017, April 24 - 26, 2017, Hilton Head Marriott Resort & Spa in Hilton Head Island, SC at Hilton Head Marriott Resort & Spa Hilton Head Island NC - Apr 24 - 26, 2017
CST Webinar Series



Internet Business Systems © 2016 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — 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