Ceramics Process Systems Announces Second 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 net income of $64 thousand or $0.01 per basic and $0.00 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, on revenue of $2.6 million for the fiscal quarter ended July July: see month. 01, 2006. This compares with net income of $106 thousand, or $0.01 per basic and diluted common share on revenue of $1.8 million for the fiscal quarter ended June June: see month. 25, 2005. Grant Bennett, President, said: "We are delighted with the 47% increase in revenues in Q2 2006 compared to the same period a year ago. The increase in revenues came from higher demand for existing products as well as demand for new products which entered production in Q2 2006. Demand increased for flip-chip heat spreaders, motor controller baseplates, and wireless basestation components compared to the same period a year ago. Customer-provided forecasts as of the end of Q2 2006 suggest that demand should continue through the rest of this year at levels similar to Q2; of course there is no guarantee this will be the case." "Q2 2006 profitability was reduced by expenses incurred in preparation for the introduction of certain new products in the second half of the year, by lower than typical yields on a new product which entered production in Q2 2006, and by an accrual accrual, n continually recurring short-term liabilities. Examples are accrued wages, taxes, and interest. for non-recurring expenses. Yields on the new product which entered production in Q2 2006 have increased and we anticipate this product will have higher gross margins in Q3 and Q4 of this year," said Bennett. Looking longer term, we actively seek additional new end markets for AlSiC and AlSiC-related products on an on-going basis. Consequently, we maintain a portfolio of potential new opportunities. We are pleased that in Q2 2006 there were positive developments of significance in two of these potential new end markets. We believe we will be successful in penetrating penetrating breaching the tissues of the body. new end markets, and that these opportunities will generate growth longer term," said Bennett. CPS develops, manufactures and markets advanced metal-matrix composites for housing and providing thermal management of high-density electronics. The Company's products are primarily used in high-density microprocessor microprocessor, integrated circuit containing the arithmetic, logic, and control circuitry required to interpret and execute instructions from a computer program. assemblies, wireless basestations, motor controllers, and satellite communications. 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. These factors include, but are not limited to, fluctuations in customer demand and changing general economic or business conditions in 2006, or a 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 the electronics industry.
CERAMICS PROCESS SYSTEMS CORPORATION
(CPS) (OTC Bulletin Board: CPSX)
Quarters Ended
July 01, June 25,
2006 2005
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Revenues $2,628,020 $1,790,272
Net Income $63,861 $105,642
Basic earnings per basic share $0.01 $0.01
Weighted average basic shares 12,518,003 12,293,209
Diluted earnings per diluted share $0.00 $0.01
Weighted average diluted shares 13,131,799 13,052,377
Six-month Periods Ended
July 01, June 25,
2006 2005
-----------------------------
Revenues $5,134,844 $3,214,752
Net Income $387,678 $48,586
Basic earnings per basic share $0.03 $0.00
Weighted average basic shares 12,423,598 12,293,209
Diluted earnings per diluted share $0.03 $0.00
Weighted average diluted shares 13,005,312 12,672,793
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