We would like to highlight Ramtron International Corp. (NASDAQ: RMTR). The company designs, develops and markets specialized semiconductor memory, microcontroller and integrated semiconductor solutions used by customers for a range of applications. The Company's product portfolio comprises stand-alone products, integrated products and microcontroller devices. The Company has developed a class of nonvolatile memory products, called ferroelectric random access memory (F-RAM) by integrating ferroelectric materials into semiconductor products.
In the company’s news yesterday,
Ramtron International Corp. reported better than expected second quarter results. Revenues increased 27% year-over-year to $15.5 million vs. analysts’ estimates of $15.3 million. Net income more than tripled to $779,000, or $0.03 per diluted share, compared to $248,000, or $0.01 per share a year ago. Excluding stock-based compensation expense and a one-time income tax provision, net income would have been $1.8 million, or $0.06 per share. Analysts surveyed expected non-GAAP net income of $0.05 per share.
“Solid execution of our strategy to introduce feature rich integrated F-RAM products and custom devices produced another quarter of profitable growth at Ramtron,” said Bill Staunton, Ramtron’s chief executive officer. “Second quarter revenue growth was driven by integrated product sales, which includes sales of our new custom devices. As a result of our initiatives to accelerate new product introductions, the classes of products introduced since 2006 contributed 23% to second-quarter revenue and grew by 52% from the first quarter of 2008. Products introduced since the beginning of 2008, which have ramped very quickly, contributed 16% of our second quarter revenue.”
Based on the strength of integrated product revenue growth of 173% year-over-year to $4.3 million, and on clear forward visibility through year-end, Ramtron forecasts full-year revenue growth of 26% to 29% over 2007 revenues of $51.1 million. Prior guidance called for an increase in sales of 24% to 28% over last year. Consensus estimates for full-year revenues are $63.7 million, below the lower end of Ramtron’s range of $64.4 million.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
