2/26/2003 - U.S. semiconductor maker Ramtron International Corporation (Nasdaq:RMTR) today reported results for the fourth quarter and full year ended December 31, 2002. Revenue for the fourth quarter was $11.5 million, compared with $8.5 million for the same quarter last year. Fourth-quarter net loss applicable to common shares was $149,000, or a loss of $0.01 per share (basic and diluted), compared with a net loss of $4.5 million, or a loss of $0.20 per share (basic and diluted), for the same quarter of 2001.
FRAM business revenue for the fourth quarter of 2002 more than doubled to $7.0 million, compared with $3.1 million for the fourth quarter of 2001. Enhanced Memory business revenue, including revenue from the company's Mushkin subsidiary, was $4.4 million, compared with $5.4 million for the same quarter a year earlier. The company reported $2.0 million in license and development fees during fourth-quarter 2002, compared with $1.4 million for the quarter a year-earlier.
For the year ended December 31, 2002, total revenue was $50.5 million, compared with $22.9 million for 2001. Full-year net loss was $1.9 million, or a loss of $0.09 per share, compared with a net loss of $33.2 million, or a loss of $1.57 per share, a year ago.
"Despite a challenging time in our industry and an uncertain economic climate, we successfully reduced our net loss by more than $30 million during 2002, and more than doubled our product revenues," commented Bill Staunton, Ramtron's CEO. "Our FRAM business made advances with a number of new product introductions during 2002 and made notable progress with Ramtron's development partner Texas Instruments (TI). In addition, we began shipping preproduction ESRAM products during the fourth quarter, which is anticipated to bode well for increased Enhanced Memory revenues in 2003."
Q4 2002 Highlights:
The following statements are based on Ramtron's current expectations. These statements are forward-looking and actual results may differ materially from those set forth in these statements. Ramtron intends to continue its policy of not updating forward-looking statements other than in publicly available documents, even if experience or future changes show that anticipated results or events will not be realized.
Ramtron International Corporation, headquartered in Colorado Springs, Colorado, is dedicated to the design, development and sale of ferroelectric RAM or FRAM memory products. The company also develops and markets high-performance memory products through its subsidiaries, Enhanced Memory Systems, Inc. and Mushkin Inc.
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