[November 16, 2009] Cimetrix Announces Third Quarter 2009 Financial Results Tweet SALT LAKE CITY --(Business Wire)-- Cimetrix (News - Alert), Incorporated (OTCBB: CMXX) (www.cimetrix.com), a leading provider of factory automation and equipment control software solutions for the global semiconductor, photovoltaic, and electronics industries, today reported financial results for its third quarter ended September 30, 2009. The Company posted positive Net income while generating $33,000 of Income from operations Software and professional services revenues both increased 11% over the prior sequential quarter The Company strengthened its balance sheet by closing a $650,000 private placement "We were very pleased to see incremental growth in our customers' equipment shipments. Even though revenues were still down 23% from the third quarter of 2008, the changes in our operating costs allowed us to generate positive Income from operations. In addition, we continue to win new business in the growing solar-photovoltaic market," said Bob Reback, Cimetrix's president and chief executive officer. Reback continued, "The economy has affected many within the semiconductor industry, including the bankruptcy of our largest competitor. However, we are now positioned as the only software company that has been focusing on efficient SEMI® standards implementation for the last 10 years. Our stability and longevity within the industry - as well as our scalable business model - sets Cimetrix up for continued success as we head into the upturn." Nine-Month Results Nine-month revenue decreased 31% to $2,302,000 from $3,358,000 in the same period last year. Total operating costs and expenses decreased 38% to $2,710,000 from $4,402,000. Cimetrix reported a net loss of $506,000 for the first nine months of 2009, or ($0.01) per basic and diluted share, versus a net loss of $1,131,000, or ($0.04) per basic and diluted share, in the same period last year. About Cimetrix Incorporated Cimetrix designs, develops, markets, and supports factory automation and equipment control software for the global semiconductor, photovoltaic, and electronics industries. A leading participant in SEMI standards development, Cimetrix's connectivity software allows for quick implementation of the SECS/GEM (News - Alert), GEM300 and EDA standards. The Company's products can be found on virtually every tool type in nearly every semiconductor 300mm factory worldwide. The added-value of Cimetrix's passionate support and professional services creates the industry's only complete software solution. Key products include: CIMControlFramework™ CIMConnect™ CIM300™ CIMPortal™ Cimetrix is an active member of Semiconductor Equipment and Materials International (SEMI), including the SEMI PV Group, and participates in various International SEMATECH (News - Alert) Manufacturing Initiative (ISMI) programs. For more information, please visit www.cimetrix.com. Safe Harbor Statement The matters discussed in this news release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements about the Company's prospects for future growth and results of operations are forward-looking statements. The comments made by the Company's senior management in regards to future revenue and results are based on current expectations and involve risks and uncertainties that may adversely affect expected results including but not limited to recovery of the economic markets into which the Company sells products, increased capital expenditures by semiconductor chip manufacturers, market acceptance of the Company's products, the timing and degree of adoption of Interface A by the semiconductor industry, the ability of the Company to control its costs associated with providing products and services, the mix between products and services (which generally have higher associated costs of revenue) provided by the Company, the competitive position of the Company and its products, which include CODE, CIMConnect, CIM300 and CIMPortal product families, the economic climate in the markets in which the Company's products are sold, technological improvements, and other risks discussed more fully in filings by the Company with the Securities and Exchange Commission. Many of these factors are beyond the control of the Company. Reference is made to the Company's most recent filing on Form 10-K, which further details such risk factors. CIMETRIX INCORPORATED AND SUBSIDIARIES Consolidated Condensed Balance Sheets   ASSETS   September 30,2009(Unaudited)   December 31,2008 Current assets:   Cash and cash equivalents $ 431,000 $ 15,000 Restricted cash - 121,000 Accounts receivable, net 349,000 407,000 Inventories - 2,000 Prepaid expenses and other current assets   16,000       25,000   Total current assets 796,000 570,000   Property and equipment, net 19,000 57,000 Intangible assets, net 15,000 56,000 Goodwill 64,000 64,000 Other assets   20,000       29,000     $ 914,000     $ 776,000     LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 132,000 $ 184,000 Accrued expenses 392,000 321,000 Deferred revenue 236,000 460,000 Current portion of notes payable and capital lease obligations 702,000 503,000 Current portion of notes payable - related party   438,000       -   Total current liabilities   1,900,000       1,468,000     Long-term liabilities: Notes payable - related parties, net - 188,000 Long-term portion of notes payable and capital lease obligations   10,000       335,000   Total long-term liabilities   10,000       523,000     Total liabilities   1,910,000       1,991,000     Commitments and contingencies   Stockholders' deficit: Common stock; $.0001 par value, 100,000,000 shares authorized, 46,668,057 and 33,568,057 shares issued, respectively 5,000 3,000 Additional paid-in capital 33,392,000 32,669,000 Treasury stock, 25,000 shares at cost (49,000 ) (49,000 ) Accumulated deficit   (34,344,000 )     (33,838,000 ) Total stockholders' deficit   (996,000 )     (1,215,000 )   $ 914,000     $ 776,000   See accompanying notes to consolidated condensed financial statements CIMETRIX INCORPORATED AND SUBSIDIARIES Consolidated Condensed Statements of Operations (Unaudited)     Three Months Ended Nine Months Ended September 30,   September 30, 2009   2008   2009   2008 Revenues:     New software licenses $ 367,000 $ 437,000 $ 872,000 $ 1,583,000 Software license updates and product support   202,000       240,000       639,000       783,000   Total software revenues 569,000 677,000 1,511,000 2,366,000 Professional services   209,000       331,000       791,000       992,000     Total revenues   778,000       1,008,000       2,302,000       3,358,000     Operating costs and expenses: Cost of revenues 198,000 383,000 815,000 1,440,000 Sales and marketing 176,000 292,000 597,000 875,000 Research and development 99,000 195,000 392,000 677,000 General and administrative 250,000 374,000 835,000 1,252,000 Depreciation and amortization   22,000       50,000       71,000       158,000     Total operating costs and expenses   745,000       1,294,000       2,710,000       4,402,000     Income (loss) from operations   33,000       (286,000 )     (408,000 )     (1,044,000 )   Other income (expense): Interest and other income - - - 1,000 Interest expense (31,000 ) (26,000 ) (99,000 ) (88,000 ) Gain on sale of assets   -       -       1,000       -     Total other expense, net   (31,000 )     (26,000 )     (98,000 )     (87,000 )   Income (loss) before income taxes 2,000 (312,000 ) (506,000 ) (1,131,000 )   Provision for income taxes   -       -       -       -     Net income (loss) $ 2,000     $ (312,000 )   $ (506,000 )   $ (1,131,000 )     Income (loss) per common share: Basic $ 0.00     $ (0.01 )   $ (0.01 )   $ (0.04 ) Diluted $ 0.00     $ (0.01 )   $ (0.01 )   $ (0.04 )   Weighted average number of shares outstanding: Basic 36,640,000 32,843,000 34,747,000 32,258,000 Diluted 36,640,000 32,843,000 34,747,000 32,258,000 See accompanying notes to consolidated condensed financial statements [ Back To TMCnet.com's Homepage ]