Ceramics Process Systems Announces First Quarter 2006 Results.CHARTLEY, Mass. -- Ceramics ceramics (sərăm`ĭks), materials made of nonmetallic minerals that have been permanently hardened by firing at a high temperature, or objects made of such materials. Process Systems Corporation (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. ) (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. : CPSX) today announced quarterly revenue of $2.5 million and net income of $324 thousand or $0.03 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 April 1, 2006. This compares with revenue of $1.4 million and a net loss of $57 thousand or $0.00 per basic and diluted share for the fiscal quarter ended March 26, 2005. Grant Bennett, President, said, "Q1 2006 revenues were a record high for CPS. Q1 2006 revenues were up 76% compared to Q1 2005 revenues, and up 16% compared with Q4 2005 revenues. Often Q1 revenues have been lower than Q4 revenues of the previous year, this was not the case this year. Demand was up in all three of our primary product families: heat spreaders for flip-chip packaging, components for cellular basestations, and components for motor controllers. We believe demand was up due to both growth in these specific applications, and due to an overall improvement in the economy. Profitability increased significantly as a result of increased demand, an improved pricing environment compared to the same period a year ago, a more profitable product mix and continued cost management." "Looking forward, we are excited that AlSiC continues to further penetrate existing markets and CPS achieved important design wins in these existing markets in Q1 2006. We do expect some quarter-to-quarter volatility Volatility 1. A statistical measure of the tendency of a market or security to rise or fall sharply within a period of time. 2. A variable in option pricing formulas that denotes the extent to which the return of the underlying asset will fluctuate between now and the in demand due to the timing of individual customer programs. However, in total, customer-provided forecasts as of the end of Q1 2006 suggest that demand should continue through the rest of this year at levels similar to Q1; there is of course no guarantee this will be the case," said Bennett. "We are also excited about potential new end markets for AlSiC. We seek to identify new end markets for AlSiC on an ongoing basis and we maintain a portfolio of potential new applications and end markets that have passed our initial evaluation. Currently there are four opportunities in that portfolio and in Q1 2006 there were positive developments of significance in all four of these potential new end markets. One of the four areas is robotic arms A robotic arm is a robot manipulator, usually programmable, with similar functions to a human arm. The links of such a manipulator are connected by joints allowing either rotational motion (such as in an articulated robot) or translational (linear) displacement. for capital equipment; in Q1 2006 we began our initial production shipments of AlSiC robotic arms. Three of these potential new end markets, including the robotic arms for capital equipment, are structural in nature where the superior stiffness-to-weight ratio of AlSiC compared to steel provides meaningful performance improvements," said Bennett. Ceramics Process Systems designs and develops advanced material technologies, and manufactures metal-matrix components and assemblies for the electronics, robotics robotics, science and technology of general purpose, programmable machine systems. Contrary to the popular fiction image of robots as ambulatory machines of human appearance capable of performing almost any task, most robotic systems are anchored to fixed positions and other industries. This release does 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. . Various factors could cause actual results to differ materially from those projected in such statements. These factors include, but are not limited to, a general economic or business downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. in 2006 or a downturn in the electronics industry.
CERAMICS PROCESS SYSTEMS
CORPORATION
(CPS) (OTC BULLETIN BOARD: CPSX)
Quarter Ended: April 1, March 25,
1006 2005
Revenues $2,506,824 $1,424,480
Net income (loss) $323,817 $(57,056)
Basic and diluted income (loss) per share $0.03 $(0.00)
Weighted average basic shares 12,329,193 12,293,209
Weighted average diluted shares 12,878,825 12,293,209
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