Cimetrix Announces First Quarter 2009 Financial Results
SALT LAKE CITY, UT – May 15, 2009 – Cimetrix, Incorporated (OTC BB: CMXX) (www.cimetrix.com), a leading provider of factory automation and equipment control software solutions for the global semiconductor, photovoltaic and electronics industries, today reported financial results for its first quarter ended March 31, 2009.
- Compared to the fourth quarter of 2008, Company revenues increased 5%. Software revenues decreased 6% from $458,000 to $430,000, while professional services revenues increased 20%.
- Total revenue for the first quarter declined 39% year-over-year from $1,355,000 in the first quarter of 2008 to $823,000 in the first quarter of 2009.
- Software revenue decreased over 56% from $989,000 in the same period last year to $430,000.
- The year-over-year professional services revenue increased 7% from $366,000 to $393,000.
- The Company reported a net loss of $324,000, or ($0.01) per basic and diluted share, in the first quarter, compared to a net loss of $379,000, or ($0.01) per basic and diluted share in the same period last year.
"The market for semiconductor 300mm capital equipment, our largest source of revenue for the past several years, virtually came to a stop in the first quarter of 2009. Customer shipments of 300mm equipment decreased more than 95% year-over-year. Fortunately, our efforts to promote the use of SEMI Standards in other markets, particularly the solar-photovoltaic market, as well as our commitment to serving customers in Europe and Japan, have contributed to an increase in Company revenue quarter-over-quarter." said Bob Reback, Cimetrix’s president and chief executive officer.
Further, Mr. Reback added, "We have taken appropriate steps to seek break-even cash flow in the face of the reduced revenue rate of the last two quarters. Despite the challenging business environment, we have retained all of our key employees and are vigorously pursuing new business opportunities."
Mr. Reback concluded, "Although there is a long way to go before 300mm shipments return to any type of reasonably sustainable levels for many of our customers, we are hopeful that easing economic conditions will result in an upward trend from recent levels. Once the semiconductor capital equipment market recovers, we expect to be well positioned for generating strong profits during the next up cycle."
Highlights
- Successful execution of professional services project to deliver SECS/GEM capabilities on new equipment for a large solar-photovoltaic manufacturing facility
- Two design wins for Cimetrix software products, one in surface mount and the second in semiconductor assembly and packaging
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 Interface A 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
