Cimetrix Announces Third Quarter 2009 Financial Results
SALT LAKE CITY, UT – November 16, 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 third quarter ended September 30, 2009.
- The Company posted positive Net income while generating $33,000 of Income from operations
- Software and professional services revenues both increased 11% over the prior sequential quarter
- The Company strengthened its balance sheet by closing a $650,000 private placement
"We were very pleased to see incremental growth in our customers&rsquot; equipment shipments. Even though revenues were still down 23% from the third quarter of 2008, the changes in our operating costs allowed us to generate positive Income from operations. In addition, we continue to win new business in the growing solar-photovoltaic market." said Bob Reback, Cimetrix&rsquot;s president and chief executive officer.
Reback continued, "The economy has affected many within the semiconductor industry, including the bankruptcy of our largest competitor. However, we are now positioned as the only software company that has been focusing on efficient SEMI® standards implementation for the last 10 years. Our stability and longevity within the industry – as well as our scalable business model – sets Cimetrix up for continued success as we head into the upturn."
Nine Month Results
Nine-month revenue decreased 31% to $2,302,000 from $3,358,000 in the same period last year. Total operating costs and expenses decreased 38% to $2,710,000 from $4,402,000. Cimetrix reported a net loss of $506,000 for the first nine months of 2009, or ($0.01) per basic and diluted share, versus a net loss of $1,131,000, or ($0.04) per basic and diluted share, in the same period last year.
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
