Welcome!

News Feed Item

Cimetrix Announces First Quarter 2014 Financial Results

Software Revenue Increases 5% From Prior Year Quarter

SALT LAKE CITY, UT -- (Marketwired) -- 05/13/14 -- Cimetrix Incorporated (OTCQB: CMXX) (www.cimetrix.com), a leading provider of factory automation and equipment control software solutions for the global semiconductor, photovoltaic, LED, and other electronics industries, today reported financial results for the first quarter of 2014.

First Quarter 2014 Financial Results

  • Total software revenue for the quarter was $1,419,000, up 5% year-over-year and also up 5% compared to Q4 2013.
  • Total revenue, including Professional Services, was $1,473,000, up 5% year-over-year.
  • Revenue from software license updates and product support continues to increase year-over-year as we gain design wins and grow our customer base.
  • Income before income taxes for the quarter was $53,000 compared to $30,000 in Q1 2013.

Management Comments
Commenting on the quarterly results, Bob Reback, president and chief executive officer of Cimetrix, stated, "The semiconductor equipment market is a very cyclical industry. Our business model is to continue to invest in product development during the down cycles, while remaining profitable, and then build revenue and profit during the upcycles. All indications are we are in an upcycle for 2014, which should be a good year for Cimetrix as we deliver higher levels of customer shipments. We remain focused on satisfying our customers, continually improving our products, research and development activities and gaining new design wins.

"What is particularly exciting is our continued success in gaining new design wins for all of our product lines worldwide. We believe we have the best products in the industry and are pleased when customers entrust us with their selection of our products. During this upcycle, we are increasing our investments in R&D to pursue new product opportunities to expand our business."

First Quarter 2014 Highlights

  • Continuing design win momentum. Five new design wins, including key wins in North America, Japan and Korea. The effect of winning new designs is to build a long-term revenue stream for runtime licenses once the customer begins shipping the equipment.
  • Major new design wins for CIMControlFramework™ equipment automation software. Gaining traction in equipment control software with new design wins for CIMControlFramework, the leading product of choice for equipment makers that want robust software functionality and fastest time-to-market.
  • Increasing adoption of EDA/Interface A. Supported one of the world's largest chip makers in integrating EDA/Interface A requirements into its equipment procurement specifications. The Company is also working with customers to adopt EDA/Interface A for data collection and analysis applications.

Second Quarter 2014 Outlook
Information from industry analysts and from our customers indicates 2014 should be a good year. We expect to remain profitable on a quarterly basis and provide solid double-digit revenue growth year-over-year.

About Cimetrix Incorporated
Cimetrix (OTCQB: CMXX) develops and supports factory automation software products for the global semiconductor, photovoltaic, LED, and other electronics industries. Cimetrix factory connectivity software allows for rapid and reliable implementation of the SEMI SECS/GEM, GEM300, PV2, and EDA standards. Our flexible equipment control framework software is the latest technology that enables equipment suppliers to design and implement their supervisory control, material handling, operator interface, platform and process control, and automation requirements of manufacturing facilities. Cimetrix products can be found in virtually every 300mm semiconductor factory worldwide and include CIMControlFramework™, CIMConnect™, CIM300™, and CIMPortal™ Plus. The added value of Cimetrix passionate Support and Professional Services delivers an outstanding solution for precision equipment companies worldwide.

Cimetrix is an active member in both Semiconductor Equipment and Materials International (SEMI), including the SEMI PV Group, and SEMATECH.

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 CODE, 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 INCORPORATED AND SUBSIDIARIES
                   CONDENSED CONSOLIDATED BALANCE SHEETS
                                (Unaudited)

                                                   March 31,   December 31,
ASSETS                                               2014          2013
                                                 ------------  ------------
Current assets:
  Cash                                           $    749,000  $    887,000
  Accounts receivable, net                          1,003,000       797,000
  Inventories                                          52,000        56,000
  Prepaid expenses and other current assets            97,000        72,000
  Deferred tax asset - current portion                182,000       144,000
                                                 ------------  ------------
    Total current assets                            2,083,000     1,956,000

Property and equipment, net                            52,000        48,000
Goodwill                                               64,000        64,000
Deferred tax asset - long-term portion              1,150,000     1,194,000
Other assets                                            6,000         6,000
                                                 ------------  ------------
                                                 $  3,355,000  $  3,268,000
                                                 ============  ============

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable                               $     69,000  $     56,000
  Accrued expenses                                    116,000       178,000
  Deferred revenue                                    331,000       273,000
                                                 ------------  ------------

    Total liabilities                                 516,000       507,000
                                                 ------------  ------------

Commitments and contingencies

Stockholders' equity:
  Common stock: $.0001 par value, 100,000,000
   shares authorized, 45,042,006 and 45,042,006
   shares issued,respectively                           4,000         4,000
  Additional paid-in capital                       33,805,000    33,774,000
  Treasury stock: 25,000 shares at cost               (49,000)      (49,000)
  Accumulated deficit                             (30,921,000)  (30,968,000)
                                                 ------------  ------------
    Total stockholders' equity                      2,839,000     2,761,000
                                                 ------------  ------------
                                                 $  3,355,000  $  3,268,000
                                                 ============  ============



                   CIMETRIX INCORPORATED AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                 (Unaudited)

                                                       Three Months Ended
                                                           March 31,
                                                   -------------------------
                                                       2014         2013
                                                   ------------ ------------
Revenues:
  New software licenses                            $  1,105,000 $  1,115,000
  Software license updates and product support          314,000      234,000
                                                   ------------ ------------
    Total software revenues                           1,419,000    1,349,000
  Professional services                                  54,000       50,000
                                                   ------------ ------------

    Total revenues                                    1,473,000    1,399,000
                                                   ------------ ------------

Operating costs and expenses:
  Cost of revenues                                      502,000      583,000
  Sales and marketing                                   257,000      266,000
  Research and development                              283,000      191,000
  General and administrative                            368,000      315,000
  Depreciation and amortization                          10,000       17,000
                                                   ------------ ------------

    Total operating costs and expenses                1,420,000    1,372,000
                                                   ------------ ------------

Income from operations                                   53,000       27,000
                                                   ------------ ------------

Other income (expenses):
  Other income                                                -        3,000
                                                   ------------ ------------

    Total other expenses, net                                 -        3,000
                                                   ------------ ------------

Income before income taxes                               53,000       30,000

Provision for income taxes                                6,000        1,000
                                                   ------------ ------------

Net income                                         $     47,000 $     29,000
                                                   ============ ============

Net income per common share:
  Basic                                            $       0.00 $       0.00
                                                   ============ ============
  Diluted                                          $       0.00 $       0.00
                                                   ============ ============

Weighted average number of shares outstanding:
  Basic                                              45,227,000   45,746,000
  Diluted                                            45,852,000   46,373,000

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, will discuss how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He will discuss how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.