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Company Contact
Rob Schreck
Cimetrix, Incorporated
Phone: (801) 256-6500
Fax: (801) 256-6510
rob.schreck@cimetrix.com
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Company Contact
Rob Schreck
Cimetrix, Incorporated
Phone: (801) 256-6500
Fax: (801) 256-6510
rob.schreck@cimetrix.com
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Total software revenue increased 8% to $1,349,000 compared to $1,252,000 in the fourth quarter of 2012, and increased 11% compared to $1,210,000 in first quarter of 2012
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Net income for the quarter was $29,000, up $9,000 compared to the fourth quarter of 2012 and up $14,000 compared to the first quarter of 2012 for 15 consecutive quarters of profitability
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New software license revenue, comprised of software development kits (SDKs) and the ongoing runtime licenses for each machine shipped with Cimetrix software, was up 14%, to $1,115,000 compared to the fourth quarter of 2012, and up 15% compared to the first quarter of 2012
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Services revenue fell 26% to $50,000 compared to $68,000 in the previous quarter and down 87% from the first quarter of 2012 services revenue of $378,000, in line with the Company’s strategy shift from turnkey solutions to training and coaching
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Eight new design wins that will contribute to long term revenue
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Eight (8) new customer design wins. The Company was awarded eight new design wins for its SDK’s by a wide range of customers in North America and Europe. The customers are developing equipment for semiconductor wafer fabrication, backend semiconductor equipment, and HB-LED production equipment. These wins are expected to provide new runtime license revenue beginning in 2014 and continuing for many years.
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Strengthening relationships with Services Partners. The Company strengthened its relationships with its global network of software integrators that are able to assist Cimetrix customers in the use of Cimetrix products. Cimetrix has relationships with integration partners in Europe, North America and Asia to provide local systems integration services, which enables Cimetrix to focus its resources on product development activities.
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Continuing R&D for new product opportunities. Cimetrix has significant expertise in building software products for very demanding capital equipment in the world’s most integrated and automated factories. The Company believes there are numerous opportunities to leverage this expertise to build new products for both its current customer base as well as much larger markets. As part of the Company’s R&D strategy, it continues to work closely with industry leaders and ISMI (International SEMATECH Manufacturing Initiative). The Company initiated a new project with ISMI intended to demonstrate critical capability to ISMI member companies, which has the potential to lead to new products.
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CIMETRIX INCORPORATED AND SUBSIDIARIES
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CONDENSED CONSOLIDATED BALANCE SHEETS
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March 31, 2013
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December 31,
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ASSETS
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(Unaudited)
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2012
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Current assets:
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Cash
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$ | 1,036,000 | $ | 1,027,000 | ||||
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Accounts receivable, net
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656,000 | 642,000 | ||||||
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Inventories
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11,000 | 16,000 | ||||||
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Prepaid expenses and other current assets
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97,000 | 102,000 | ||||||
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Total current assets
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1,800,000 | 1,787,000 | ||||||
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Property and equipment, net
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82,000 | 81,000 | ||||||
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Goodwill
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64,000 | 64,000 | ||||||
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Other assets
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15,000 | 20,000 | ||||||
| $ | 1,961,000 | $ | 1,952,000 | |||||
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LIABILITIES AND STOCKHOLDERS’ EQUITY
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Current liabilities:
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Accounts payable
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$ | 46,000 | $ | 49,000 | ||||
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Accrued expenses
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156,000 | 230,000 | ||||||
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Deferred revenue
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382,000 | 338,000 | ||||||
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Total current liabilities
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584,000 | 617,000 | ||||||
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Total liabilities
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584,000 | 617,000 | ||||||
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Commitments and contingencies
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Stockholders’ equity:
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Common stock; $.0001 par value, 100,000,000 shares
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authorized, 45,467,006 and 45,567,006 shares issued,
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respectively
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4,000 | 4,000 | ||||||
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Additional paid-in capital
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33,705,000 | 33,683,000 | ||||||
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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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(32,283,000 | ) | (32,303,000 | ) | ||||
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Total stockholders’ equity
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1,377,000 | 1,335,000 | ||||||
| $ | 1,961,000 | $ | 1,952,000 | |||||
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See accompanying notes to condensed consolidated financial statements
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CIMETRIX INCORPORATED AND SUBSIDIARIES
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CONDENSED CONSOLIDATED STATEMENTS OF INCOME
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(Unaudited)
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Three Months Ended
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March 31,
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2013
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2012
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Revenues:
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New software licenses
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$ | 1,115,000 | $ | 968,000 | ||||
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Software license updates and product support
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234,000 | 242,000 | ||||||
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Total software revenues
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1,349,000 | 1,210,000 | ||||||
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Professional services
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50,000 | 378,000 | ||||||
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Total revenues
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1,399,000 | 1,588,000 | ||||||
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Operating costs and expenses:
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Cost of revenues
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583,000 | 744,000 | ||||||
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Sales and marketing
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266,000 | 271,000 | ||||||
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Research and development
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191,000 | 218,000 | ||||||
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General and administrative
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315,000 | 323,000 | ||||||
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Depreciation and amortization
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17,000 | 15,000 | ||||||
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Total operating costs and expenses
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1,372,000 | 1,571,000 | ||||||
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Income from operations
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27,000 | 17,000 | ||||||
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Other income (expenses):
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Other income
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3,000 | - | ||||||
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Total other expenses, net
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3,000 | - | ||||||
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Income before income taxes
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30,000 | 17,000 | ||||||
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Provision for income taxes
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1,000 | 2,000 | ||||||
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Net income
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$ | 29,000 | $ | 15,000 | ||||
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Net income per common share:
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Basic
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$ | 0.00 | $ | 0.00 | ||||
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Diluted
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$ | 0.00 | $ | 0.00 | ||||
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Weighted average number of shares
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outstanding:
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Basic
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45,746,000 | 45,698,000 | ||||||
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Diluted
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46,373,000 | 45,763,000 | ||||||
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See accompanying notes to condensed consolidated financial statements
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