New book by Larry Connors Click here Improve your trading - See how
In a release, the Company noted that third quarter product revenue was $17.1 million, 31 percent higher than product revenue of $13.0 million reported for the same quarter last year.
Third-quarter net income was $1.4 million, or $0.05 per share, compared with net income of $1.1 million, or $0.05 per share, for the same quarter a year earlier. Third-quarter 2008 results include non-cash, stock-based compensation expense of $242,000, and an income tax provision of $719,000, of which $699,000 was non-cash. Without these items, third-quarter 2008 net income would have been $2.4 million, or $0.09 per share. For comparative purposes, third-quarter 2007 net income excluding the same items would have been $1.8 million, or $0.07 per share. Product gross margin for the third quarter of 2008 was 54 percent, compared with 53 percent for the third quarter of 2007.
At the end of 2007, Ramtron recorded a $7.6 million deferred tax asset on its balance sheet that represented the estimated amount of tax loss carry forward the company expected to offset with future taxable income. This asset will be reduced by the amount of a non-cash tax provision that will be recorded on the company's income statement on a quarterly basis.
"Fueled by strong printer related product revenue and growing sales of our serial and parallel F-RAM products, Ramtron delivered an exceptionally strong quarter," said Ramtron CEO Bill Staunton. "Products introduced since 2006 continued to be the main growth drivers, contributing 31 percent of the quarter's revenue. High-density 2- and 4-megabit product sales also contributed to our results by more than doubling over the second quarter of 2008.
"As high-density sales gained traction, we launched our F-RAM V-Family during the third quarter, which will further extend our high density F-RAM revenue opportunity. More V-Family F-RAM products are due in November as we begin an aggressive marketing effort to drive sampling and design-in activity," Staunton added.
Third-Quarter Product Highlights:
- Integrated product revenue grew 132 percent to $5.1 million, or 30 percent of F-RAM product revenue, during the third quarter of 2008, compared with $2.2 million, or 17 percent of F-RAM revenue, for the third quarter of 2007.
- Ramtron announced the FM25V10, a 1-megabit device in a family of new F-RAM products that offer high-speed read/write performance, low voltage operation, and optional device features.
- Sales of Ramtron's high-density F-RAM products, which include 2- and 4-megabit devices, more than doubled from the second quarter of 2008 to $408,000 or 2.4 percent of revenue.
- Ramtron announced the use of F-RAM in energy optimizers and professional gaming machines
"Since the beginning of the fourth quarter, the business environment has become more conservative, marked by a heightened level of caution being exercised by some customers and distributors and some softening in orders," Staunton added. "As a result, we now anticipate that our 2008 growth will be at the lower end our original annual revenue growth target range of 24 percent to 28 percent over 2007.
"Ramtron anticipates strong growth again next year, but we realize that replicating our 2008 growth rate will be challenging in the current environment," Staunton continued. "Despite this, we believe our new products and diverse end markets will allow us to grow faster than the overall semiconductor industry. As we continue to execute our business strategy, our strong cash position, minimal debt, and positive cash flow place Ramtron in a solid position to continue investing in the product development and marketing initiatives that will drive future growth."
Ramtron International Corp., 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.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
((Distributed via M2 Communications Ltd - http://www.m2.com))
http://www.10meters.com
Comments on this story may be sent to newsdesk@closeupmedia.com
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403
© Copyright 2009 The Connors Group, Inc.
