Ceramics Process Systems Announces Third Quarter 2001 Results.Business/Technology Editors CHARTLEY, Mass.--(BUSINESS WIRE)--Nov. 1, 2001 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 $205 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. share, on revenue of $1.3 million for the fiscal quarter ended September September: see month. 29, 2001. These results compare with a net loss of ($298) thousand, or ($0.02) per basic and diluted share, on revenue of $1.1 million for the fiscal quarter ended September 20, 2000. Grant Bennett, President, said, "Comparing Q3 2001 to the same period a year ago, revenues increased 25%; comparing Q3 to Q2 of this year, revenues increased 57%. We have been focused for some time on broadening broad·en tr. & intr.v. broad·ened, broad·en·ing, broad·ens To make or become broad or broader. broad our customer base and moving products through qualification into production at our customers and we are beginning to see the benefits of these efforts. The increase in revenues in Q3 from Q2 of this year is the result of 1) certain prototype Prototype A first or original model of hardware or software. Prototyping involves the production of functionally useful and trustworthy systems through experimentation with evolving systems. products which have been in qualification were released for production by our customers in Q3, and, 2 ) several customers who had put orders for existing products on hold earlier this year released orders for shipment beginning in Q3." "We expect additional products that are currently in qualification at our customers to move into production in the quarters ahead. We believe the underlying demand for thermal management solutions is growing. However, our customers indicate it is difficult to forecast near-term near-term adj. Of, for, or involving a short period of time in the near future. demand for existing products. Overall weakness and uncertainty in the electronics sector may affect revenue growth and net income in the quarters immediately ahead," said Bennett. "We are pleased with Q3 2001 profitability of $205 thousand, a $503 thousand improvement over the Q3 2000 loss of ($298) thousand. Earlier this year as demand declined we took several actions to reduce both fixed and variable costs, and to improve productivity. These actions have positively affected profitability and we believe will continue to do so," said Bennett. CPS develops, manufactures and markets advanced metal-matrix composites for housing and providing thermal management of high-density high-den·si·ty adj. Having a high concentration: high-density urban areas. electronics. The Company's products are primarily used in flip-chip integrated circuit packaging Integrated circuit packaging is the final stage of semiconductor device fabrication per se, followed by IC testing. In the integrated circuit industry it is called simply packaging and sometimes semiconductor device assembly, or simply assembly. , motor controllers, and equipment for wireless 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. . Various factors could cause actual results to differ materially from those projected in such statements. These factors include, but are not limited to, changes in general economic conditions in 2001, or changes in the electronics industry market conditions in 2001. The Company undertakes no obligation to update the information in this press release.
CERAMICS PROCESS SYSTEMS CORPORATION
(CPS) (OTC Bulletin Board: CPSX)
For the Fiscal Quarters Ended
Sept. 29, Sept. 30,
2001 2000
Revenue $ 1,324,424 $ 1,056,557
Net Income (Loss) $ 205,340 $ (298,095)
Basic earnings per basic share $ 0.02 $ (0.02)
Weighted average basic shares 12,292,338 12,287,469
Diluted earnings per diluted shares $ 0.02 $ (0.02)
Weighted average diluted shares 12,389,583 12,287,469
For the Nine-Month Periods Ended
Sept. 29, Sept. 30,
2001 2000
Revenue $ 3,135,198 $ 3,757,091
Net Loss $ (332,795) $ (119,402)
Basic earnings per basic share $ (0.03) $ (0.01)
Weighted average basic shares 12,291,259 12,286,907
Diluted earnings per diluted shares $ (0.03) $ ( 0.01)
Weighted average diluted shares 12,291,259 12,286,907
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