Cimetrix Announces First Quarter 2008 Financial Results
SALT LAKE CITY, UT - May 15, 2008 - Cimetrix, Incorporated (OTC: CMXX), a leading provider of factory automation software and solutions for the global semiconductor, photovoltaic and electronics industries, today reported financial results for its first quarter ended March 31, 2008.
Total revenues for the first quarter decreased 13% year-over-year to $1,355,000 from $1,556,000. The revenue mix included $989,000 in software sales and $366,000 in professional services. Total software revenues increased 11% year-over-year, as the Company obtained two important design wins for its connectivity software products. Services revenues, however, decreased 45% as many customers delayed spending plans on new projects until market conditions improve.
The Company reported a net loss of $379,000, or $0.01 per basic and diluted share, in the first quarter, compared to a net loss of $232,000, or $0.01 per basic and diluted share in the first quarter of 2007.
"We had a number of budgeted projects with repeat customers scheduled to start during the first quarter that were ‘pushed out’ due to industry and economic conditions. As a result of the predicted softness in capital expenditures in the semiconductor industry for the remainder of the year, we have taken steps to bring our cost structure in-line with anticipated lower quarterly revenues, which are more fully described in our quarterly SEC filing. In addition, we continue to look at other cost savings measures as we ride out the industry downturn." said Bob Reback, president and CEO. "On a positive note, we were very pleased to earn two important new customers during the quarter, which contributed to a year-over-year increase in software revenues."
Highlights
- Two Major Design Wins. Cimetrix was selected as a key supplier by two US based semiconductor equipment suppliers, which will each use certain connectivity products as well as focused professional services to assist in their product usage.
- Successful delivery of Data Management solution. Cimetrix's Data Management System Framework was deployed into production at a semiconductor integrated device manufacturer. This first deployment instance should serve as a valuable reference customer for new business opportunities involving Integrated Yield Management Systems.
About Cimetrix Incorporated:
Cimetrix designs, develops, markets, and supports factory automation and equipment control software for the global semiconductor, photovoltaic, and electronics industries. A leading participant in SEMI standards development, Cimetrix’s connectivity software allows for quick implementation of the SECS/GEM, GEM300 and EDA standards.
The Company’s products can be found on virtually every tool type in nearly every semiconductor 300mm factory worldwide. The added-value of Cimetrix’s passionate support and professional services creates the industry’s only complete software solution. Key products include:
Cimetrix is an active member of Semiconductor Equipment and Materials International (SEMI), the International SEMATECH Manufacturing Initiative (ISMI) as well as the PV Group. For more information, please visit www.cimetrix.com.
Safe Harbor Statement
The matters discussed in this news release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements about the Company’s prospects for future growth and results of operations are forward-looking statements. The comments made by the Company's senior management in regards to future revenue and results are based on current expectations and involve risks and uncertainties that may adversely affect expected results including but not limited to recovery of the economic markets into which the Company sells products, increased capital expenditures by semiconductor chip manufacturers, market acceptance of the Company’s products, the timing and degree of adoption of Interface A by the semiconductor industry, the ability of the Company to control its costs associated with providing products and services, the mix between products and services (which generally have higher associated costs of revenue) provided by the Company, the competitive position of the Company and its products, which include CIMConnect, CIM300 and CIMPortal product families, the economic climate in the markets in which the Company’s products are sold, technological improvements and other risks discussed more fully in filings by the Company with the Securities and Exchange Commission. Many of these factors are beyond the control of the Company. Reference is made to the Company's most recent filing on Form 10-K, which further details such risk factors.
Cimetrix Investor Resources and Financial Information
