|By Marketwired .||
|May 13, 2014 05:30 PM EDT||
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.
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.
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
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Aug. 31, 2015 03:15 PM EDT
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...
Aug. 31, 2015 03:00 PM EDT Reads: 242
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
Aug. 31, 2015 02:45 PM EDT Reads: 349
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
Aug. 31, 2015 02:30 PM EDT Reads: 453
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of I...
Aug. 31, 2015 02:30 PM EDT Reads: 410
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
Aug. 31, 2015 02:30 PM EDT Reads: 141
The web app is agile. The REST API is agile. The testing and planning are agile. But alas, data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes that force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software organ...
Aug. 31, 2015 02:13 PM EDT
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
Aug. 31, 2015 02:00 PM EDT Reads: 178
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
Aug. 31, 2015 01:45 PM EDT Reads: 412
Amazon and Google have built software-defined data centers (SDDCs) that deliver massively scalable services with great efficiency. Yet, building SDDCs has proven to be a near impossibility for ‘normal’ companies without hyper-scale resources. In his session at 17th Cloud Expo, David Cauthron, founder and chief executive officer of Nimboxx, will discuss the evolution of virtualization (hardware, application, memory, storage) and how commodity / open source hyper converged infrastructure (HCI) so...
Aug. 31, 2015 01:05 PM EDT
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Aug. 31, 2015 12:30 PM EDT Reads: 356
eCube Systems has released NXTmonitor, a full featured application orchestration solution. NXTmonitor, which inherited the code base of NXTminder, has been extended to support multi-discipline processes and will act as a DevOps utility in a heterogeneous enterprise environment. Previously, NXTminder was packaged with NXTera middleware to configure and manage Entera and NXTera RPC servers. “Since we are widening the focus of this solution to DevOps, we felt the need to change the name to NXTmon...
Aug. 31, 2015 12:15 PM EDT
Contrary to mainstream media attention, the multiple possibilities of how consumer IoT will transform our everyday lives aren’t the only angle of this headline-gaining trend. There’s a huge opportunity for “industrial IoT” and “Smart Cities” to impact the world in the same capacity – especially during critical situations. For example, a community water dam that needs to release water can leverage embedded critical communications logic to alert the appropriate individuals, on the right device, as...
Aug. 31, 2015 12:00 PM EDT
Everyone talks about continuous integration and continuous delivery but those are just two ends of the pipeline. In the middle of DevOps is continuous testing (CT), and many organizations are struggling to implement continuous testing effectively. After all, without continuous testing there is no delivery. And Lab-As-A-Service (LaaS) enhances the CT with dynamic on-demand self-serve test topologies. CT together with LAAS make a powerful combination that perfectly serves complex software developm...
Aug. 31, 2015 12:00 PM EDT Reads: 200
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Aug. 31, 2015 11:30 AM EDT Reads: 890