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MCT REPORTS NET INCOME OF $3.4 MILLION FOR SECOND QUARTER.

ST. PAUL, Minn.--(BUSINESS WIRE)--Feb. 10, 1994--Micro Component Technology, Inc. (MCTI) today reported favorable results for its second quarter of fiscal 1995 ended December 24, 1994 with net sales of $8.5 million and net income of $3.4 million, compared to net loss of $2.0 million on net sales of $10.8 million for the same quarter of fiscal 1994. Income from operations for the second quarter of fiscal 1995 was $2.6 million, versus loss from operations of $1.8 million for the same quarter the previous year. The Company reported earnings per share of $0.64 for the second quarter, versus loss per share of $0.45 a year ago.

Net sales for the first six months of fiscal 1995 ended December 24, 1994 were $17.0 million with net income of $1.0 million, an improvement over net loss of $4.2 million on net sales of $19.7 million for the same six month period of fiscal 1994. Income from operations for the first half of fiscal 1995 was $0.4 million, as compared with a loss from operations of $3.0 million for the same six month period of fiscal 1994. The Company reported earnings per share of $0.19 for the six month period, versus loss per share of $1.42 a year ago.

MCT's Chief Financial Officer, David Sugishita, stated, "We are very pleased to report profitable results and a solid balance sheet for the second quarter. Contributing factors included the sale of the MCT 1149 product line to Megatest Corporation, and the cash settlement received from SymTek. In addition, a new lease for the Company's headquarters resulted in the removal of the cost of the facility and related debts from the Company's balance sheet. With the transfer to Megatest of employees, inventories, obligations, and other costs related to the MCT 1149, we have driven our break-even point to a lower level."

"The balance sheet reflects the Company's improved cash position, which has increased to $2.6 million as of December 24, 1994, up from $0.9 million as of September 24, 1994. Inventories were reduced by 48%, accounts payable by 64%, credit agreements by 72%, and the current portion of long-term debt by 95%. The net result of these transactions was an improvement in stockholders' equity of over 500%. Because of this continued progress, we look forward to the Company's stock being traded on the Nasdaq Small Cap Market."

The Company previously announced the sale of the MCT 1149 tester product line to Megatest Corporation of San Jose, California for approximately $14.9 million. In addition, Megatest purchased $1.5 million of MCT's non-voting, preferred stock.

The Company also previously announced receipt of a settlement from Sym-Tek Systems, Inc. of San Diego, California. The settlement resolved all outstanding claims related to MCT's proposed acquisition of SymTek. The total impact of these reversals of previous expenses was in excess of $1.9 million.

In January 1995, the Company announced the appointment of L. David Sikes to fill the positions of President and Chief Executive Officer. Mr. Sikes succeeded D.J. Hill, who resigned. Sikes was most recently President of Ramtron International Corporation, of Colorado Springs.

Sikes stated, "With our flagship product the MCT 6100, we have refocused on our leading capabilities as a handler company. Financially, our primary objectives will be to further enhance MCT's cash position and focus on continued profitability."

MCT is a leading manufacturer of automated test handling equipment satisfying the complete range of handling requirements of the global semiconductor industry. MCT has the largest installed IC test handler base of any manufacturer, with over 8,500 units worldwide. Headquartered in St. Paul, Minnesota, the company has sales and support offices worldwide. MCT is quoted on the OTC Bulletin Board under the symbol MCTI.

-0-
 Condensed Consolidated Statements of Operations
 (In thousands, except per share data)
 (Unaudited)
 Three Months Ended Three Months Ended
 December 24, 1994 December 25, 1993
Net sales $ 8,515 $ 10,772
Cost of sales 5,429 5,629
Gross margin 3,086 5,143
Operating expenses (income):
 Selling, marketing, administrative 4,521 5,492
 Research and development 1,093 1,401
 Unusual and non-recurring items (5,808) -
 Other 705 -
 Total operating expenses 511 6,893
Income (loss) from operations 2,575 (1,750)
Interest expense 61 165
Income (loss) before income taxes and
 extraordinary item 2,514 (1,915)
Income tax provision 92 44
Net income (loss)
 before extraordinary items 2,422 (1,959)
Gain on extinguishment of debt 1,005 -
Net income (loss) 3,427 (1,959)
Dividends on preferred stock - 23
Net income (loss) on common stock 3,427 (1,982)
Earnings (loss) per common share $ 0.64 $ (0.45)
Number of shares used in computing EPS 5,326 4,369


 Condensed Consolidated Statements of Operations
 (In thousands, except per share data)
 (Unaudited)
 Six Months Ended Six Months Ended
 December 24, 1994 December 25, 1993
Net sales $ 17,020 $ 19,666
Cost of sales 9,980 10,544
Gross margin 7,040 9,122
Operating expenses (income):
 Selling, marketing, administrative 9,257 9,576
 Research and development 2,489 2,593
 Unusual and non-recurring items (5,808) -
 Other 729 -
 Total operating expenses 6,667 12,169
Income (loss) from operations 373 (3,047)
Interest expense 274 896
Income (loss) before income taxes and
 extraordinary item 99 (3,943)
Income tax provision 92 73
Net income (loss)
 before extraordinary items 7 (4,016)
Gain on extinguishment of debt 1,005 -
Net income (loss) 1,012 (4,016)
Dividends on preferred stock - 158
Net income (loss) on common stock 1,012 (4,174)
Earnings (loss) per common share $ 0.19 $ (1.42)
Number of shares used in computing EPS 5,351 2,936


 Condensed Consolidated Balance Sheet Items
 (In thousands, Unaudited)
 December 24, 1994 September 24, 1994
Assets
 Cash $ 2,606 $ 892
 Accounts receivable net 5,259 7,627
 Inventories net 7,703 14,769
 Other current assets 2,866 827
 Total current assets 18,434 24,115
 Total assets 21,180 32,372


Liabilities and Stockholders' Equity
 Current portion of long-term debt 432 8,011
 Accounts payable 4,232 11,863
 Credit agreements 1,080 3,831
 Other accrued liabilities 9,254 7,358
 Total current liabilities 14,998 31,063
 Long-term debt 80 24
 Preferred stock 1,500 0
 Additional paid-in capital 34,287 35,491
 Accumulated deficit (27,973) (31,243)
 Total stockholders' equity 6,102 1,180
 Total liabilities
 and stockholders' equity 21,180 32,372


NOTE TO EDITORS: A conference call will be held Friday, February 10th at 9:00am Central time, in conjunction with the preceding release. Please call 800-553-0273 (U.S.) or 303-446-0284 (International), 15 minutes in advance if you wish to participate.

CONTACT: Micro Component Technology, Inc., St. Paul

David Sugishita (financial), 612/482-5180

Henry S. Kim (editorial), 408/565-9540
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