|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
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
Aug. 25, 2016 05:15 PM EDT Reads: 605
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Aug. 25, 2016 04:15 PM EDT Reads: 375
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Aug. 25, 2016 03:30 PM EDT Reads: 1,483
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th 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 dev...
Aug. 25, 2016 03:15 PM EDT Reads: 2,199
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Aug. 25, 2016 02:00 PM EDT Reads: 3,543
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Aug. 25, 2016 01:45 PM EDT Reads: 1,358
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, 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 opportuni...
Aug. 25, 2016 01:00 PM EDT Reads: 3,885
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Aug. 25, 2016 01:00 PM EDT Reads: 2,592
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Aug. 25, 2016 12:45 PM EDT Reads: 576
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Aug. 25, 2016 12:15 PM EDT Reads: 3,383
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
Aug. 25, 2016 11:00 AM EDT Reads: 541
Ixia (Nasdaq: XXIA) has announced that NoviFlow Inc.has deployed IxNetwork® to validate the company’s designs and accelerate the delivery of its proven, reliable products. Based in Montréal, NoviFlow Inc. supports network carriers, hyperscale data center operators, and enterprises seeking greater network control and flexibility, network scalability, and the capacity to handle extremely large numbers of flows, while maintaining maximum network performance. To meet these requirements, NoviFlow in...
Aug. 25, 2016 11:00 AM EDT Reads: 1,827
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Aug. 25, 2016 10:30 AM EDT Reads: 489
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Aug. 25, 2016 09:15 AM EDT Reads: 603
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 25, 2016 09:00 AM EDT Reads: 575