CPS Technologies Corporation Announces Third Quarter 2007 Results.NORTON Nor·ton , Charles Eliot 1827-1908. American educator, writer, and editor who founded the Nation (1865). , 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 $3.1 million and net income of $225 thousand, or $0.02 per basic and 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 September September: see month. 29, 2007. This compares with revenue of $2.9 million and net income of $298 thousand, or $0.02 per basic and diluted common share for the same period a year ago. We are pleased with the 5% growth in revenues in Q3 2007 compared to the same period a year ago given that revenues from two major customers were depressed throughout Q3 2007 as described in our press release announcing Q2 2007 results. Increased demand from other customers more than offset the temporary decreases in demand from these two major customers; demand from these two customers has returned as of the date of this press release to expected levels. In Q3 2007, revenue growth was strongest from baseplates used in motor controllers, 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, and lids and heat spreaders, while revenue from cellular telephone basestations declined. On a year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. basis, revenues through three quarters of 2007 were up 15% compared to the same period a year ago. Net income declined in Q3 2007 by $73 thousand compared to the same period a year ago primarily as a result of higher employment levels. Management believes current employment levels are appropriate for underlying demand. On a year-to-date basis, net income through three quarters of 2007 was essentially the same as the same period a year ago. CPS continued to achieve design wins in Q3 in all major product lines. Customer-provided forecasts show growth in all main product lines of the Company over the next year although there is no guarantee demand will occur as forecast. In addition to products in volume production, CPS continues to be very active in broadening broad·en tr. & intr.v. broad·ened, broad·en·ing, broad·ens To make or become broad or broader. broad our product line. We are introducing hermetic metal packages with AlSiC bases for microelectronic The miniaturization of electronic circuits. See chip. applications. We are 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. We are very active in developing hard plates for light-vehicle armor based on our proprietary process technology. 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. Management believes that like plastics 80 years ago, MMCs will penetrate many different end markets over many years. 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.
CPS TECHNOLOGIES CORPORATION > > >
(OTC Bulletin Board: CPSH) > > >
> > >
> > > Quarters End-
> > > September 29,
September 30,
> > > 2007
2006
> > >
Revenues > > > $3,082,329
$2,925,694
> > >
Net Income > > > $224,938
$298,059
> > >
Basic earnings per basic share > > > $0.02
$0.02
> > >
Weighted average basic shares > > > 12,546,959
12,521,959
> > >
Diluted earnings per diluted share > > > $0.02
$0.02
> > >
Weighted average diluted shares > > > 13,344,888
13,151,877
[TABLE OMITTED]
|
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion