-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MoukjcxyFCubpYz7b463EetZrkW/tV09XP8ppAiHpIygVk3+eIbxljyehZXwhtzd lVQP5y4MShRiGZy928p5sg== 0001104659-07-035881.txt : 20070504 0001104659-07-035881.hdr.sgml : 20070504 20070504131543 ACCESSION NUMBER: 0001104659-07-035881 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20070502 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070504 DATE AS OF CHANGE: 20070504 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MICRO COMPONENT TECHNOLOGY INC CENTRAL INDEX KEY: 0000911149 STANDARD INDUSTRIAL CLASSIFICATION: INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825] IRS NUMBER: 410985960 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22384 FILM NUMBER: 07819265 BUSINESS ADDRESS: STREET 1: 2340 W COUNTY RD C CITY: ST PAUL STATE: MN ZIP: 55113-2528 BUSINESS PHONE: 6516974000 MAIL ADDRESS: STREET 1: 2340 W COUNTY RD C CITY: ST PAUL STATE: MN ZIP: 55113-2528 8-K 1 a07-13288_18k.htm 8-K

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549-1004

 


 

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934

 


 

Date of report

(Date of earliest event reported) May 2, 2007

 


 

MICRO COMPONENT TECHNOLOGY, INC.

(Exact name of registrant as specified in its charter)

Minnesota

0-22384

41-0985960

(State or other jurisdiction of incorporation or organization)

(Commission File Number)

(I.R.S. Employer Identification No.)

 

 

 

2340 West County Road C, St. Paul, Minnesota 55113
(651) 697-4000

(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simutaneously satify the filing obligation of the registrant under any of the following provision:

o            Written communications pursuant to Rule 425 under the Securities Act (17 CRF 230.425)

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CRF 240.14d-2(b))

o            Pre-commencement communications pursuant to Rule 13e-4© under the Exchange Act (17 CRF 240.13e-4(c))

 

 




ITEM 2.02             RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On May 2, 2007, the registrant issued a press release disclosing financial information regarding the quarter ended March 31, 2007. A copy of the press release is attached as Exhibit 99.1

ITEM 9.01             FINANCIAL STATEMENTS AND EXHIBITS

(d)                                 Exhibits

99.1                           Press release dated May 2, 2007.

2




SIGNATURES

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 hereunto duly authorized.

 

MICRO COMPONENT TECHNOLOGY, INC.

 

 

 

(Registrant)

 

 

 

 

 

 

Date: May 4, 2007

 

 

 

 

 

 

 

By: /s/ BachThuy T. Vo

 

 

 

(BachThuy T. Vo, Interim Chief Financial Officer)

 

 

3




EXHIBIT INDEX

Ex. No.                                                           Description

99.1                                                                           Press release dated May 2, 2007.

4



EX-99.1 2 a07-13288_1ex99d1.htm EX-99.1

Exhibit 99.1

 

For more information contact:
Roger E. Gower, President/C.E.O.
(651) 697-4000
Michelle Sprunck, Investor Relations
(651) 697-4026

 

MCT REPORTS FIRST QUARTER 2007 RESULTS

St. Paul, Minnesota. (May 2, 2007) — Micro Component Technology, Inc. (OTC Bulletin Board: MCTI) today reported results for its first quarter of 2007. Net sales for the first quarter of 2007 were $3.3 million, an increase of 41% from net sales of $2.4 million for the first quarter of 2006 and up 17% from the fourth quarter of 2006. Net loss was $.2 million, or $0.00 per share in the first quarter of 2007, compared to net loss of $1.1 million or $0.04 per share in the comparable prior year period.

MCT’s President, Chairman and Chief Executive Officer, Roger E. Gower, commented: “This quarter’s solid performance, with revenue increases of 41% over the first quarter of 2006 and 17% over the fourth quarter of 2006, reflected the solid bookings received during this period. Our financial performance in the quarter included both positive cash flow and EBITDA in excess of $280K, and it appears that our increasing bookings activity has continued into the second quarter. Improvements in cash flows, gross margins and bookings are all linked to the increasing market acceptance of our latest Tri-Temperature Strip Test Handler offering. Simply stated, Strip Test and MCT continue to grow despite various statements regarding weak and uncertain test handler market trends,” concluded Gower.

MCT is a leading manufacturer of test handling and automation solutions satisfying the complete range of handling requirements of the global semiconductor industry. MCT has recently introduced several new products under its Smart Solutionsä line of automation products, including Tapestryâ, SmartMarkä, SmartSortä, and SmartTrakä, which are designed to automate the back-end of the semiconductor manufacturing process. MCT believes it has the largest installed IC test handler base of any manufacturer, with over 11,000 units worldwide. MCT is headquartered in St. Paul, Minnesota, with its core manufacturing operation in Penang, Malaysia. MCT is traded on the OTC Bulletin Board under the symbol MCTI.




MCT, Inc. (First Quarter 2007)—Page Two

For more information on the Company, visit its web site at http://www.mct.com

Except for the historical information contained herein, the matters discussed in this news release are forward looking statements that involve risks and uncertainties, including the timely development and acceptance of new products, the impact of competitive products and pricing, the impact on cash and results of operations from a flattening or renewed downturn in the semiconductor capital equipment market, the need for additional financing, and the other factors detailed from time to time in the Company’s SEC reports, including but not limited to the discussion in the Risk Factors and Management’s Discussion & Analysis included in Form 10-K for the year ended December 31, 2006.

# # #




MCT, Inc. (First Quarter 2007)—Page Three

Condensed Consolidated Statements of Operations (Unaudited)
(In thousands, except per share data)

 

 

Three months ended

 

 

 

March 31,
2007

 

April 1
2006

 

Net sales

 

$

3,337

 

$

2,375

 

Cost of sales

 

1,604

 

1,181

 

Gross profit

 

1,773

 

1,194

 

Gross margin

 

52.5

%

50.3

%

 

 

 

 

 

 

Selling, general and administrative

 

1,105

 

945

 

Research and development cost

 

500

 

518

 

Total operating expenses

 

1,605

 

1,463

 

 

 

 

 

 

 

Operating income (loss)

 

(168

)

(269

)

 

 

 

 

 

 

Interest and other

 

(327

)

(814

)

 

 

 

 

 

 

Net income (loss)

 

$

(159

)

$

(1,083

)

 

 

 

 

 

 

Net income (loss) per share — basic and diluted

 

$

(0.00

)

$

(0.04

)

 

 

 

 

 

 

Weighted average shares outstanding:

 

 

 

 

 

Basic

 

36,665

 

27,225

 

Diluted

 

36,665

 

27,225

 

 

Condensed Consolidated Balance Sheets (Unaudited)
(In thousands)

 

 

March 31
2007

 

Dec 31,
2006

 

Assets

 

 

 

 

 

Current assets

 

 

 

 

 

Cash and cash equivalents

 

$

354

 

$

200

 

Accounts receivable, net

 

2,648

 

2,816

 

Inventories, net

 

2,464

 

2,016

 

Other current assets

 

159

 

169

 

Total current assets

 

5,625

 

5,201

 

 

 

 

 

 

 

Property, net

 

104

 

91

 

 

 

 

 

 

 

Debt issue costs and other, net

 

286

 

264

 

 

 

 

 

 

 

Total assets

 

$

6,015

 

$

5,556

 

 

 

 

 

 

 

Liabilities and Stockholders’ Deficit

 

 

 

 

 

Current liabilities

 

 

 

 

 

Accounts payable

 

$

945

 

$

440

 

Bank line of credit

 

3,873

 

3,906

 

Accrued liabilities

 

1,366

 

1,291

 

Current portions of long-term obligations

 

1,467

 

228

 

Total current liabilities

 

7,651

 

5,865

 

 

 

 

 

 

 

Long-term debt

 

3,206

 

5,506

 

 

 

 

 

 

 

Total stockholders’ deficit

 

(4,842

)

(5,815

)

 

 

 

 

 

 

Total liabilities and stockholders’ deficit

 

$

6,015

 

$

5,556

 

 



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