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Ramtron Posts Q4

COLORADO SPRINGS, Colo. — U.S. semiconductor maker Ramtron International Corporation (Nasdaq: RMTR), a leading developer and supplier of nonvolatile ferroelectric random access memory (F-RAM) and integrated semiconductor products, today reported total revenue of $16.1 million for the fourth quarter of 2010, compared with total revenue of $14.4 million for the same quarter last year. Net income for the fourth quarter of 2010 was $471,000, or $0.02 per share, compared with net income of $755,000, or $0.03 per share, for the fourth quarter of 2009. Fourth-quarter 2010 results included a non-cash stock-based compensation expense of $420,000, and an income tax provision of $230,000.

Fourth-Quarter Revenue and Product Highlights :

  • Product revenue was $15.9 million for the fourth quarter of 2010, compared with $13.3 million reported for the same quarter last year.
  • Product gross margin for the quarter was 52%, compared with 48% last year.
  • Ramtron announced the availability of the MaxArias Wireless Memory kit for evaluating third-generation, data-rich automatic identification applications.
  • Ramtron introduced two new 128-kilobit (Kb) high-performance nonvolatile V-Family serial F-RAM memories that meet stringent AEC-Q100 Grade 3 automotive qualification standards. For full-year 2010, Ramtron reported total revenue of $70.2 million, compared with total revenue of $47.5 million for full-year 2009. Full-year 2010 net income was $1.6 million, or $0.06 per share, compared with net loss of $5.8 million, or $0.22 per share, for full-year 2009. Full-year 2010 results included non-cash, stock-based compensation expense of $1.7 million and income tax provision of $931,000. Full-year 2009 results included restructuring and impairment charges totaling $6.2 million.

    “Strong demand during the fourth quarter combined with a delay in bringing up low-density replacement products at our new foundry exacerbated the supply constraints that materialized in the third quarter,” said Ramtron CEO, Eric Balzer. “As a result, our revenue declined from the third quarter. To ease these supply constraints, we have increased the number of products that we are manufacturing at our established foundry. These products are now shipping in modest volume as we work with our established foundry to increase wafer production to meet demand.”

    We anticipate that our wafer capacity will catch up with demand beginning in the second half of the year,” Balzer continued. “For 2011, our production plans and revenue targets are based only on the capabilities of our established foundry as we continue to work to bring up our newest manufacturing line.”

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