Benchmarq Microelectronics reports 1995 financial results.DALLAS--(BUSINESS WIRE)--Jan. 30, 1996--BENCHMARQ Microelectronics Inc. (NASDAQ/NMS:BMRQ), a Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. based provider of integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. and electronic modules for portable and power-sensitive electronic systems, reported improved results for the fourth quarter and year ended Dec. 31, 1995. Net income for the fourth quarter increased 7 percent to $950,000, compared to $891,000 in the fourth quarter of 1994. Net income per share also increased 7 percent to 15 cents, versus 14 cents reported for the fourth quarter of 1994. Fourth quarter total net revenues increased 22 percent to $8.1 million in 1995, compared to $6.7 million in 1994. The company reported that the portion of fourth quarter net revenues and gross margin generated from the sale of products increased 30 percent and 23 percent, respectively, from fourth quarter 1994. The company also indicated that it was particularly encouraged by fourth quarter sales of Battery Management Products, which grew 97 percent from $1.5 million in fourth quarter 1994 to $2.9 million in 1995. Lower Real-Time Clock A real-time clock (RTC) is a computer clock (most often in the form of an integrated circuit) that keeps track of the current time. Although the term often refers to the devices in personal computers, servers and embedded systems, RTCs are present in almost any electronic royalty revenues and the previously announced termination of a third-party design contract, however, partially offset the improvement in product performance. Reg McHone, the company's chief financial officer, said, "Although the royalty revenues and design contract have been profitable and good for our bottom line, neither undertaking is strategic to our business." For the year ended Dec. 31, 1995, the company reported net income of $3.8 million, an increase of 76 percent from the $2.2 million reported for 1994. Net income per share improved to 61 cents in 1995, up 74 percent or 26 cents from the 35 cents reported for 1994. Total net revenues for the year were $29.2 million, an increase of 27 percent from $23.0 million in 1994. The company also indicated that revenues from sales of Battery Management Products increased 99 percent in 1995 to $8.2 million. Derrell Coker, Benchmarq's president and chief executive officer, said, "Demand for certain of our battery capacity monitoring devices was very strong in the fourth quarter. Growth in sales of Battery Management Products, which as a group generated gross margins as a percentage of net revenues of above 50 percent in 1995, is our primary objective in 1996." In other news, Benchmarq announced that a previously reported claim of patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. made by the European Space Agency European Space Agency (ESA), multinational agency dedicated to the promotion, for exclusively peaceful purposes, of cooperation among European states in space research and technology. (ESA 1. (architecture) ESA - Enterprise Systems Architecture. 2. (body) ESA - European Space Agency. ) against certain of Benchmarq's Battery Management Products has been dropped by ESA. Benchmarq's product lines include battery management ICs and modules, real-time clock ICs and modules, nonvolatile controller ICs and modules, and nonvolatile static RAM A fast memory technology that requires power to hold its content. Static RAM (SRAM, S-RAM) is used for high-speed registers, caches and relatively small memory banks such as a frame buffer on a display adapter. modules. Benchmarq markets its products worldwide through a network of distributors and independent manufacturers' representatives Manufacturers representatives (reps), also known as sales agents, are independently owned and managed sales companies that are an alternative to hiring a direct sales force. . Benchmarq completed its initial public offering in December 1995 and is listed on the Nasdaq National Market under the symbol "BMRQ." -0- NOTE TO EDITORS: BENCHMARQ is a registered trademark of BENCHMARQ Microelectronics, Inc. CONTACT: Benchmarq Microelectronics Inc., Dallas Patricia H. Smith, 214/437-9195 (Media) fax: 214/437-9198 (Media) fax: 214/437-0250 (Investor Relations Investor relations The process by which the corporation communicates with its investors. ) |
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