Simtek Expects 2006 Annual Revenue of $30.6 Million
January 22 2007 - 6:30AM
PR Newswire (US)
* Fourth Quarter Total Revenue Expected to be $9.7 Million COLORADO
SPRINGS, Colo., Jan. 22 /PRNewswire-FirstCall/ -- Simtek
Corporation (NASDAQ:SMTK), the inventor, pioneer, and world's
leading supplier of nonvolatile static random access memory
(nvSRAM) integrated circuits, today announced that total revenue
for the year ended December 31, 2006, is expected to be
approximately $30.6 million, up 194%, compared to revenues of $10.4
million in 2005. Total revenue for the fourth quarter ended
December 31, 2006 is expected to be approximately $9.7 million.
Total revenue includes product revenue of approximately $9.1
million, which represents 10% growth over the prior quarter. Total
revenue for the quarter also includes royalty revenue of
approximately $550,000 for the final royalty pre-payment from
Cypress Semiconductor. The Company expects to report positive net
income on a GAAP basis for the fourth quarter of 2006, and on an
ex-item basis for the full year 2006. Ex-item earnings exclude
non-cash charges related to amortization of the ZMD acquisition and
expensing of stock options. The Company's order backlog scheduled
for delivery in the first quarter of 2007, as of December 31, 2006,
was $7.1 million, a new quarter-ending record for backlog of
orders. Brian Alleman, Simtek's CFO, stated, "Simtek made
significant progress in the fourth quarter in our return to
profitability. Revenue increased nicely from Q3. The overall
product mix was favorable and gross margins continue to improve.
Simtek expects to report GAAP net income for the fourth quarter for
the first time in more than five years, and expects to achieve
positive ex-item earnings for the full year." The Company will host
an earnings conference call for the fourth quarter and year-end
2006 on Thursday, February 22, 2007, at 2:00 pm PDT (5:00 pm EDT).
Further details will be provided at a later date. About Simtek
Corporation Simtek Corporation designs and markets high-speed,
re-programmable, nonvolatile semiconductor memory products, for use
in a variety of systems including RAID servers, high performance
workstations, GPS navigational systems, robotics, copiers and
printers, and networking and broadcast equipment. Information on
Simtek products can be obtained from its web site:
http://www.simtek.com/; email: . The company is headquartered in
Colorado Springs, Colorado. Forward-Looking Statements This press
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, including
statements predicting Simtek's future growth. 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, projections of future
performance including predictions of future profitability and
expectations of the business environment in which Simtek operates.
For a detailed discussion of these and other risk factors, please
refer to Simtek's filings with the Securities and Exchange
Commission (SEC), including its Annual Report on Form 10-K and
subsequent Form 10-Q and Form 8-K filings. DATASOURCE: Simtek
Corporation CONTACT: Brian Alleman, CFO of Simtek Corp., ; or Todd
Kehrli, or Marie Dagresto, both of MKR Group, Inc.,
+1-323-468-2300, , for Simtek Corporation Web site:
http://www.simtek.com/
Copyright
SmartKem (NASDAQ:SMTK)
Historical Stock Chart
From Jul 2024 to Aug 2024
SmartKem (NASDAQ:SMTK)
Historical Stock Chart
From Aug 2023 to Aug 2024