Catalyst Semiconductor Announces Final 4th Quarter, Fiscal Year Results.Business Editors SUNNYVALE, Calif.--(BUSINESS WIRE)--July 26, 2001 Catalyst Semiconductor, Inc. (Nasdaq:CATS) today announced final results for the fourth quarter and fiscal year ended April 30, 2001. Revenues for the fourth quarter totaled $17.2 million, up 1% from revenues of $17.1 million in the fourth quarter a year ago. Net income for the quarter was $1.7 million, or $0.09 per diluted share, down 65% from $4.9 million, or $0.24 per diluted share, in the fourth quarter last year. On a sequential quarterly basis, revenue was down 27% and net income was down 76%. Fourth quarter results include inventory charges to the cost of sales of $1.6 million. Without these charges, earnings would have been $3.3 million or $0.16 per diluted share. The Company's balance sheet shows cash and cash equivalents of $30.5 million, a decrease of $2.1 million versus the previous quarter. The principal reasons for the decrease were the payment of the last installment of $5.0 million to Oki Electric resulting from a previously announced agreement and the financing of increased inventory. Stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. increased by $2.3 million during the quarter, to a total of $39.1 million as of April 30, 2001. The difference from the preliminary results announced May 30, 2001 is principally due to an increase in the Company's reserves. Fiscal Year Results Final results for fiscal 2001 showed net income of $27.4 million, or $1.36 per diluted share, on revenues of $98.0 million. This compares with net income of $10.0 million, or 50 cents per diluted share, on revenues of $49.5 million in fiscal 2000. About Catalyst Semiconductor Founded in 1985, Catalyst Semiconductor, Inc. is 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. . The Company designs and markets a broad range of programmable products, including Flash Memories, Serial and Parallel EEPROMs, NVRAM (Non-Volatile RAM) May refer to dynamic RAM (DRAM) and static RAM (SRAM) chips that are backed up by a battery or to non-volatile chips such as flash memory. See non-volatile memory, dynamic RAM, static RAM and solid state disk. , Digital Potentiometers, Microcontroller A single chip that contains the processor (the CPU), non-volatile memory for the program (ROM or flash), volatile memory for input and output (RAM), a clock and an I/O control unit. Supervisory circuits Supervisory circuits are semiconductor devices that detect and monitor voltage levels in power supplies, microprocessors, and other systems. They are protection circuits that monitor one or more system parameters. and other programmable Mixed Signal products. Catalyst products are used in telecommunications, networking systems, computation, industrial and consumer markets, driven by the Internet revolution. Typical applications include modems, network cards, PC BIOS See BIOS. , 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, cellular telephones, digital satellite box receivers, set-top boxes and Internet routers. Catalyst's Quality Management System is 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 certified. Additional information may be obtained by visiting the Company's Web site at www.catsemi.com. |
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