CPS Technologies Corporation Announces Second Quarter 2008 Results.NORTON, Mass. -- CPS (1) (Characters Per Second) The measurement of the speed of a serial printer or the speed of a data transfer between hardware devices or over a communications channel. CPS is equivalent to bytes per second. Technologies Corporation (CPS) (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : CPSH CPSH Center for Psychological and Spiritual Health ) today announced revenue of $4.5 million and net income of $567 thousand or $0.05 per basic and $0.04 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. common share for the fiscal quarter ended June 28, 2008. This compares with revenue of $3.1 million and net income of $132 thousand, or $0.01 per basic and diluted common share for the same period a year ago. Compared to the same quarter a year ago, Q2 2008 revenues grew by 46% and net income grew by 330%. The increase in revenues came from all product families except baseplates for cellular telephone basestations which continued to decline as these specific products near their end of life. We supply components to OEMs; each of our products has a specific life cycle. The revenue growth in Q2 came primarily from products introduced 1-2 years ago which have now entered the growth phase of their product life cycles; this is particularly the case for specific flip-chip heat spreaders used in high-performance switches and routers which generated the greatest growth in Q2. Demand for baseplates used in motor controllers also increased as did demand for hermetic hermetic /her·met·ic/ (her-met´ik) impervious to air. her·met·ic or her·met·i·cal adj. Completely sealed, especially against the escape or entry of air. metal packages. Near-term, although there will most likely be quarter-to-quarter fluctuations in revenues due to the timing of the life cycle of specific products, our product pipeline is very healthy; in Q2 2008 we continued to achieve design wins for new products in all major product families. Looking longer term, high energy prices and concerns about the environment are resulting in increased activity worldwide in mass transit mass transit, public transportation systems designed to move large numbers of passengers. Types and Advantages Mass transit refers to municipal or regional public shared transportation, such as buses, streetcars, and ferries, open to all on a , hybrid and electric cars, alternative means of electricity generation such as wind turbines, and even increased telecommuting telecommuting, an arrangement by which people work at home using a computer and telephone, transmitting work material to a business office by means of a modem and telephone lines; it is also known as telework. resulting in increased use of the internet. Our products are used in all these applications, and are enabling in many of these applications: management believes the underlying growth in these areas provides the opportunity for significant growth for the Company. For example, CPS continues to be very active in working with several first-tier automotive suppliers in the development and production qualification of motor controller baseplates for hybrid and electric vehicle applications, both trucks and cars. Meanwhile demand is increasing for motor controllers today in mass transit (trains and subway cars) and electricity-generating wind turbines. CPS serves a portfolio of end markets with advanced material solutions, the most significant solution being metal matrix composites Metal matrix composite A material in which a continuous metallic phase (the matrix) is combined with another phase (the reinforcement) that constitutes a few percent to around 50% of the material's total volume. (MMCs). CPS has a proprietary, leading position in MMCs today, primarily providing electronics OEMs with thermal management components to increase performance and reliability. This release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as that term is defined in the Private Securities Reform Act of 1995. Various factors could cause actual results to differ materially from those projected in such statements. [TABLE OMITTED] [TABLE OMITTED] |
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