Ceramics Process Systems Corporation Announces Second Quarter 2002 Results.Business Editors/High-Tech Writers CHARTLEY, Mass.--(BUSINESS WIRE)--Aug. 2, 2002 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 a net loss of ($63) thousand, or ($0.01) 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, on revenue of $1,471 thousand for the fiscal quarter ended June 29, 2002. This compares with a net loss of $(204) thousand, or ($0.02) per basic and diluted common share, on revenue of $846 thousand for the fiscal quarter ended June 30, 2001. Grant Bennett, President, said: "We are pleased with the 74% increase in revenues in Q2 2002 compared to Q2 2001. The increased revenues reflect higher demand across all product families, but particularly in baseplates for motor controllers and in lids and heatspreaders for microprocessor microprocessor, integrated circuit containing the arithmetic, logic, and control circuitry required to interpret and execute instructions from a computer program. and application specific integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. . "Overall market conditions, however, remain very difficult. In Q2 2002 some customers modified their forecasts downward for the second half of 2002, and other customers declined to provide forecasts of Q3 and Q4 demand. Demand declined month-to-month month-to-month adj. referring to a tenancy in which the tenant pays monthly rent and has no lease, and the tenancy can be terminated by the landlord at any time on thirty-days notice. (See: tenancy, landlord and tenant) during Q2 2002, suggesting that Q3 demand will be below Q2 demand. We continue to manage costs very carefully while maintaining our ability to meet sudden increases in customer demand," 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 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. . 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 the general economic or business conditions, or a further 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)
For the Fiscal Quarters Ended
June 29, June 30,
2002 2001
Revenue $ 1,470,597 $ 846,194
Net Income (loss) $ (63,296) $ (203,611)
Basic earnings (loss) per basic share $ (0.01) $ (0.02)
Weighted average basic shares 12,292,338 12,291,785
Diluted earnings (loss) per diluted shares $ (0.01) $ (0.02)
Weighted average diluted shares 12,292,338 12,291,785
For the Six-Month Periods Ended
June 29, June 30,
2002 2001
Revenue $ 3,219,874 $ 1,810,774
Net Income (loss) $ 34,089 $ (538,135)
Basic earnings (loss) per basic share $ 0.00 $ ( 0.04)
Weighted average basic shares 12,292,338 12,290,719
Diluted earnings (loss) per diluted shares $ 0.00 $ (0.04)
Weighted average diluted shares 12,536,419 12,290,719
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion