Attached files
| file | filename |
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| 10-Q - CIMETRIX, INC 10-Q - CIMETRIX INC | cim10q111209.htm |
| EX-31.1 - EXHIBIT 31.1 - CIMETRIX INC | ex311111209.htm |
| EX-32.2 - EXHIBIT 32.2 - CIMETRIX INC | ex322111209.htm |
| EX-32.1 - EXHIBIT 32.1 - CIMETRIX INC | ex321111209.htm |
| EX-31.2 - EXHIBIT 31.2 - CIMETRIX INC | ex312111209.htm |
Company
Contact
Dave
Faulkner
Cimetrix,
Incorporated
Phone:
(801) 256-6500
Fax:
(801) 256-6510
dave.faulkner@cimetrix.com
Cimetrix Announces Third Quarter 2009 Financial Results
Company
Returns to Profitable Operations as Software Revenues Stabilize
SALT LAKE CITY, UT — November 16,
2009 — Cimetrix,
Incorporated (OTCBB: 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.
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·
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The
Company posted positive Net income while generating $33,000 of Income from
operations
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·
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Software
and professional services revenues both increased 11% over the prior
sequential quarter
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·
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The
Company strengthened its balance sheet by closing a $650,000 private
placement
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“We were
very pleased to see incremental growth in our customers' 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’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 EDA
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:
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§
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CIMControlFramework™
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§
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CIMConnect™
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§
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CIM300™
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§
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CIMPortal™
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Cimetrix is an active member of Semiconductor Equipment and Materials International (SEMI), including the SEMI PV Group, and participates in various International SEMATECH Manufacturing Initiative (ISMI) programs.
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 ofthe 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.
# #
#
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CIMETRIX
INCORPORATED AND SUBSIDIARIES
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Consolidated
Condensed Balance Sheets
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||||||||
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ASSETS
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September
30, 2009
(Unaudited)
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December
31,
2008
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Current
assets:
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Cash
and cash equivalents
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$ | 431,000 | $ | 15,000 | ||||
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Restricted
cash
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- | 121,000 | ||||||
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Accounts
receivable, net
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349,000 | 407,000 | ||||||
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Inventories
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- | 2,000 | ||||||
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Prepaid
expenses and other current assets
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16,000 | 25,000 | ||||||
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Total
current assets
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796,000 | 570,000 | ||||||
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Property
and equipment, net
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19,000 | 57,000 | ||||||
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Intangible
assets, net
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15,000 | 56,000 | ||||||
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Goodwill
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64,000 | 64,000 | ||||||
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Other
assets
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20,000 | 29,000 | ||||||
| $ | 914,000 | $ | 776,000 | |||||
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LIABILITIES
AND STOCKHOLDERS’ DEFICIT
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Current
liabilities:
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Accounts
payable
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$ | 132,000 | $ | 184,000 | ||||
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Accrued
expenses
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392,000 | 321,000 | ||||||
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Deferred
revenue
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236,000 | 460,000 | ||||||
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Current
portion of notes payable and capital lease obligations
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702,000 | 503,000 | ||||||
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Current
portion of notes payable – related party
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438,000 | - | ||||||
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Total
current liabilities
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1,900,000 | 1,468,000 | ||||||
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Long-term
liabilities:
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||||||||
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Notes
payable – related parties, net
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- | 188,000 | ||||||
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Long-term
portion of notes payable and capital lease
obligations
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10,000 | 335,000 | ||||||
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Total
long-term liabilities
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10,000 | 523,000 | ||||||
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Total
liabilities
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1,910,000 | 1,991,000 | ||||||
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Commitments
and contingencies
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Stockholders’
deficit:
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Common
stock; $.0001 par value, 100,000,000 shares
authorized,
46,668,057 and 33,568,057 shares issued,
respectively
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5,000 | 3,000 | ||||||
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Additional
paid-in capital
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33,392,000 | 32,669,000 | ||||||
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Treasury
stock, 25,000 shares at cost
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(49,000 | ) | (49,000 | ) | ||||
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Accumulated
deficit
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(34,344,000 | ) | (33,838,000 | ) | ||||
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Total
stockholders’ deficit
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(996,000 | ) | (1,215,000 | ) | ||||
| $ | 914,000 | $ | 776,000 | |||||
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See
accompanying notes to consolidated condensed financial
statements
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CIMETRIX
INCORPORATED AND SUBSIDIARIES
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Consolidated
Condensed Statements of Operations
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(Unaudited)
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Three
Months Ended
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Nine
Months Ended
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September 30,
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September 30,
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2009
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2008
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2009
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2008
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Revenues:
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New
software licenses
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$ | 367,000 | $ | 437,000 | $ | 872,000 | $ | 1,583,000 | ||||||||
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Software
license updates and product support
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202,000 | 240,000 | 639,000 | 783,000 | ||||||||||||
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Total
software revenues
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569,000 | 677,000 | 1,511,000 | 2,366,000 | ||||||||||||
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Professional
services
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209,000 | 331,000 | 791,000 | 992,000 | ||||||||||||
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Total
revenues
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778,000 | 1,008,000 | 2,302,000 | 3,358,000 | ||||||||||||
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Operating
costs and expenses:
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Cost
of revenues
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198,000 | 383,000 | 815,000 | 1,440,000 | ||||||||||||
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Sales
and marketing
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176,000 | 292,000 | 597,000 | 875,000 | ||||||||||||
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Research
and development
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99,000 | 195,000 | 392,000 | 677,000 | ||||||||||||
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General
and administrative
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250,000 | 374,000 | 835,000 | 1,252,000 | ||||||||||||
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Depreciation
and amortization
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22,000 | 50,000 | 71,000 | 158,000 | ||||||||||||
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Total
operating costs and expenses
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745,000 | 1,294,000 | 2,710,000 | 4,402,000 | ||||||||||||
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Income
(loss) from operations
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33,000 | (286,000 | ) | (408,000 | ) | (1,044,000 | ) | |||||||||
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Other
income (expense):
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Interest
and other income
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- | - | - | 1,000 | ||||||||||||
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Interest
expense
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(31,000 | ) | (26,000 | ) | (99,000 | ) | (88,000 | ) | ||||||||
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Gain
on sale of assets
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- | - | 1,000 | - | ||||||||||||
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Total
other expense, net
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(31,000 | ) | (26,000 | ) | (98,000 | ) | (87,000 | ) | ||||||||
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Income
(loss) before income taxes
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2,000 | (312,000 | ) | (506,000 | ) | (1,131,000 | ) | |||||||||
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Provision
for income taxes
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- | - | - | - | ||||||||||||
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Net
income (loss)
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$ | 2,000 | $ | (312,000 | ) | $ | (506,000 | ) | $ | (1,131,000 | ) | |||||
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Income
(loss) per common share:
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Basic
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$ | 0.00 | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.04 | ) | |||||
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Diluted
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$ | 0.00 | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.04 | ) | |||||
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Weighted
average number of shares
outstanding:
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Basic
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36,640,000 | 32,843,000 | 34,747,000 | 32,258,000 | ||||||||||||
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Diluted
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36,640,000 | 32,843,000 | 34,747,000 | 32,258,000 | ||||||||||||
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See
accompanying notes to consolidated condensed financial
statements
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