Ramtron International, based in Colorado Springs, posted a 58 percent increase in revenue compared to the first quarter of this year.
The increase in second-quarter revenue was due to more support from the company’s Texas wafer source, assembly and test subcontractor, which allowed the company to start shipping its products in greater volume.
However, the gross product market declined slightly to 47 percent, compared to 48 percent in the first quarter of 2011.
The revenue for the first half of the year – $27.4 million – exceed the company’s expectations of $25 million.
Ramtron also upgraded its processor companion products, targeted at the high-volume, processor-based electronics system market. In the second quarter, they hired Mark Kent as chief financial officer for the company.
“Ramtron’s second quarter performance clearly reflects the unparalleled support from our Texas wafer source and the progress we have made in strengthening our supply chain, which allowed us to better meet our customers’ needs,” said Eric Balzer, Ramtron’s chief executive officer. “As a result of these improvements and our customer-centric mindset, we were able to fulfill more of our customers’ orders and clear more backlog than initially anticipated. Ramtron now has a clear roadmap and timetable for fully resolving any remaining supply constraints before the end of 2011. Additionally, the company has already implemented a comprehensive ongoing program of process review and improvements designed to attain and maintain operational excellence across the company.”
Balzer said the company is planning to introduce new product platforms to meet customers’ evolving needs and penetrate new markets.
“We also expect our new manufacturing line in Burlington to be in full production in the first quarter of 2012,” he said.
The company reported total revenue of $16.8 million for the second quarter of 2011, compared with $18.3 million for the same quarter last year, and a 58 percent sequential increase compared to first-quarter 2011 revenue of $10.6 million.
The company reported a net loss for the second quarter of 2011 of $683,000, compared with net income of $357,000, or $0.01 per share for the second quarter of 2010. Second-quarter 2011 results included stock-based compensation expense of $441,000 and an income tax benefit of $270,000. As anticipated, the Company’s research and development expenses continue to be historically high in connection with engineering wafers at the Company’s new wafer source.
“With the continued support from our Texas wafer source, as well as the product manufacturing and test capacity relationships already in place, we anticipate that our second half revenue will exceed that of the first half of 2011 by a minimum of 40 percent,” said Kent. “We believe this and our strong backlog will drive full-year revenue of between $65 million and $70 million, reflecting a full recovery from our forced foundry transition.”
Ramtron International is a fabless semiconductor company that designs, develops and markets specialized semiconductor memory, microcontroller and integrated semiconductor solutions used in a wide range of product applications and markets.