Catalyst Semiconductor, Inc. Announces First Quarter Results.SUNNYVALE, Calif.--(BUSINESS WIRE)--Aug. 27, 1997--Catalyst Semiconductor, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CATS) today announced its financial results for the quarter ended July 31, 1997. Revenues for the first quarter were $9.5 million, up 6 percent from revenues of $9.0 million in the preceding quarter. Net loss for the quarter was $0.8 million or $0.10 per share, compared with a net loss of $1.1 million or $0.14 per share in the preceding quarter. Michael Powell There have been a number of well-known people named Michael Powell or Mike Powell, among them:
The technology industry's demand-to-supply ratio for orders on a "firm's book" to number of orders filled. Notes: This ratio tells whether the company has more orders than it can deliver (if greater than 1), has the same amount of orders that it can of over 1.4. Bookings were particularly strong in Japan and Southeast Asia Southeast Asia, region of Asia (1990 est. pop. 442,500,000), c.1,740,000 sq mi (4,506,600 sq km), bounded roughly by the Indian subcontinent on the west, China on the north, and the Pacific Ocean on the east. ." The increased bookings primarily were due to increased demand for the Company's Flash memory devices targeted at personal computer and disk drive applications. The Company closed the quarter with its highest end-of-quarter backlog in six quarters. The Company has recently ordered its first production wafers wafers compressed roughage in flat plates useful for feeding to animals in transit. from its United Microelectronics Corporation UMC (United Microelectronics Corporation) was founded as Taiwan's first semiconductor company in 1980 as a spin-off of the government-sponsored institute ITRI. Today, UMC is best known for its merchant foundry business, manufacturing integrated circuits wafers for fabless (UMC UMC United Methodist Church UMC United Microelectronics Corporation UMC University Medical Center UMC United Microelectronics Corp (Republic of China) UMC University of Missouri-Columbia ) wafer foundry in Taiwan. This new Flash process utilizes 0.5 micron micron: see micrometer. One micrometer, which is one millionth of a meter or approximately 1/25,000 of an inch. The tiny elements that make up a transistor on a chip are measured in micrometers and nanometers. See process technology. lithography lithography (lĭthŏg`rəfē), type of planographic or surface printing. It is distinguished from letterpress (relief) printing and from intaglio printing (in which the design is cut or etched into the plate). and is run in UMC's 8-inch wafer fab. The Company expects its first revenue from the new UMC foundry in fiscal Q2. The Company is sampling its new 34WC02 family of Serial EEPROMs which is designed for use in personal computer main memory (DIMM (Dual In-Line Memory Module) A printed circuit board that holds memory chips and plugs into a DIMM socket on the motherboard. See memory module. DIMM - Dual In-Line Memory Module ) modules. Except for those statements that report the Company's historical results, the statements being made are forward looking statements. Actual results could differ materially from those projected in the forward looking statements. Factors which could cause actual results to differ from expectations include the following: volatility in supply and demand affecting market prices, timing and market acceptance of new products, such as the Company's Intel-compatible Bootblock Flash memory products, increased expenses associated with new product introductions or process changes and delays in developing or achieving volume production of new products. Additional information concerning factors that could cause actual results to differ materially from those in the forward looking statements is contained under the heading "Certain Factors That May Affect the Company's Future Results of Operations" listed from time to time in Catalyst's SEC reports, including but not limited to the report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended April 30, 1997. Catalyst Semiconductor, Inc., headquartered in Sunnyvale, California Sunnyvale ([sʌniveil]) is a city in Santa Clara County, California, United States. It is one of the major cities that make up the Silicon Valley. As of the 2000 census, the city population was 131,760. , designs and markets a broad range of nonvolatile semiconductor memory products, including Serial EEPROMs, Parallel EEPROMs and Flash Memories. Catalyst's Quality Management System has been certified See certification. to the ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 Standard. -0-
CATALYST SEMICONDUCTOR, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
July 31, April 30,
1997 1997
ASSETS -------- --------
Current assets:
Cash and cash equivalents $ 1,606 $ 2,695
Restricted cash 5,250 5,250
Accounts receivable, net 8,381 7,074
Inventories 12,157 12,732
Other Assets 987 895
Total current assets 28,381 28,646
Property and equipment, net 4,124 3,907
------- -------
$32,505 $32,553
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $11,448 $10,942
Bank and other short-term debt 4,648 3,449
Accrued expenses 1,587 1,269
Deferred gross profit on shipments
to distributors 403 378
Current portion of long-term debt
and capital leases 593 593
Total current liabilities 18,679 16,631
Long-term debt and capital lease
obligations 525 1,885
Total liabilities 19,204 18,516
Total stockholders' equity 13,301 14,037
------- -------
$32,505 $32,553
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Three Months Ended
July 31, July 31,
1997 1996
------- -------
Net revenue $ 9,548 $15,832
Cost of revenues 7,173 11,121
Gross profit 2,375 4,711
Research & development 1,180 1,273
Selling, general and administration 1,792 2,261
Operating income (597) 1,177
Net interest income
(expense), net (185) 28
Income before income taxes (782) 1,205
Income tax provision -- 46
Net income $ (782) $ 1,159
Net income per share $ (0.10) $ 0.13
Shares used in per share
calculation 8,008 8,881
CONTACT: Catalyst Semiconductor, Inc. Kathryn Beaulieu, 408/542-1051 kathryn.beaulieu@catsemi.com |
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