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UNITED STATES FORM 8-K Current Report CERAMICS PROCESS SYSTEMS CORPORATION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 5, 2005
Commission file number 0-16088
Delaware of Incorporation or Organization |
04-2832409 Identification No.) |
111 South Worcester Street |
02712-0338 |
(508) 222-0614
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
EXHIBIT NUMBER |
DESCRIPTION |
99 |
Press released dated August 5, 2005 of Ceramics Process Systems Corporation announcing its financial results for the fiscal quarter ended June 25, 2005. |
Item 9. Regulation FD Disclosure
On August 5, 2005, the Company issued a press release announcing its financial results for the fiscal quarter ended June 25, 2005. A copy of the press release is attached hereto as Exhibit 99 and is incorporated herein in its entirety by reference.
Limitation on Incorporation by Reference.
The information furnished in this Item 9 (which is being furnished under Item 12) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
Cautionary Note Regarding Forward-Looking Statements.
Except for historical information contained in the press release attached as an exhibit hereto, the press release contains forward-looking statements which involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. Please refer to the cautionary note in the press release regarding these forward-looking statements.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Ceramics Process Systems Corporation (Registrant) |
|
Date: August 5, 2005 |
/s/ Grant C. Bennett |
EXHIBIT INDEX
EXHIBIT NUMBER |
DESCRIPTION |
99 |
Press released dated August 5, 2005 of Ceramics Process Systems Corporation announcing its financial results for the fiscal quarter ended June 25, 2005. |
FOR IMMEDIATE RELEASE
Ceramics Process Systems Corporation
Grant Bennett
President
111 South Worcester Street
Chartley, MA 02712
Telephone: (508) 222-0614 ext 18
Fax: (508) 222-0220
Web Site: www.alsic.com
CERAMICS PROCESS SYSTEMS ANNOUNCES SECOND QUARTER 2005 RESULTS
Chartley, Massachusetts, August 5, 2005. Ceramics Process Systems Corporation (CPS) (OTC Bulletin Board: CPSX) today announced net income of $106 thousand or $0.01 per basic and diluted common share, on revenue of $1.8 million for the fiscal quarter ended June 25, 2005. This compares with net income of $142 thousand, or $0.01 per basic and diluted common share on revenue of $1.4 million for the fiscal quarter ended June 26, 2004.
Grant Bennett, President, said: "Comparing Q2 2005 with the same period a year ago, we are pleased with the 26% increase in revenues which comes from increased unit demand partially offset by reduced prices that went into effect at the end of 2004 for certain products. In Q2 2005 unit demand increased for flip-chip heat spreaders, motor controller baseplates and wireless basestation components and we achieved several design wins for flip chip heat spreaders and motor controller baseplates which we believe will generate growth in the near and intermediate term. Regarding profitability, we made important progress in ongoing productivity and cost reduction programs, but this progress was offset by reduced prices for certain products, increased costs of raw materials and increased labor costs resulting from higher employment levels established in anticipation of future growth."
"Looking longer term, we actively seek additional new end markets for AlSiC and AlSiC-related products on an on-going basis. Consequently, we maintain a portfolio of potential new opportunities. While very early in the typically long market development cycle, we are pleased that in Q2 there were positive developments of greater or lessor significance in three of these potential new end markets. In short, we believe we will be successful in penetrating new end markets in the future, and that these opportunities will generate growth longer term," said Bennett.
CPS develops, manufactures and markets advanced metal-matrix composites for housing and providing thermal management of high-density electronics. The Company`s products are primarily used in high-density microprocessor assemblies, wireless basestations, motor controllers, and satellite communications.
This release may contain forward-looking statements as that term is defined in the Private Securities Reform Act of 1995. Various factors could cause actual results to differ materially from those projected in such statements. These factors include, but are not limited to, fluctuations in customer demand and changing general economic or business conditions in 2005, or a downturn in the electronics industry.
CERAMICS PROCESS SYSTEMS CORPORATION |
||
(CPS) (OTC Bulletin Board: CPSX) |
||
Quarters Ended |
||
June 25, |
June 26, |
|
2005 |
2004 |
|
Revenues |
$1,790,272 |
$1,417,219 |
Net Income |
$105,642 |
$141,738 |
Basic earnings per basic share |
$0.01 |
$0.01 |
Weighted average basic shares |
12,293,209 |
12,293,209 |
Diluted earnings per diluted share |
$0.01 |
$0.01 |
Weighted average diluted shares |
13,052,377 |
12,723,096 |
Six-month Periods Ended |
||
June 25, |
June 26, |
|
2005 |
2004 |
|
Revenues |
$3,214,752 |
$3,081,609 |
Net Income |
$48,586 |
$310,427 |
Basic earnings per basic share |
$0.00 |
$0.03 |
Weighted average basic shares |
12,293,209 |
12,293,209 |
Diluted earnings per diluted share |
$0.00 |
$0.02 |
Weighted average diluted shares |
12,672,793 |
12,723,389 |