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.





(Amounts in thousands, except per-share amounts)




Three Months Ended

March 31,

March 31,



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)



Interest expense, other





Other income (expense), net   43    



Income (loss) before income tax benefit (provision)



Income tax benefit (provision)   506    



Net income (loss)  



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




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





(Amounts in thousands)



March 31,


December 31,







Current assets:
Cash and cash equivalents





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


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





Current liabilities:
Accounts payable



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






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