SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15 (d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported) July 28, 1997
SIMTEK CORPORATION
(Exact name of registrant as specified in its charter)
Colorado 0-19027 84-1057605
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
1465 Kelly Johnson Boulevard
Colorado Springs, Colorado 80920
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (719) 531-9444
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N/A
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(Former name or former address, if changed since last report)
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Item 5: Other Information:
Simtek Corporation issued the following press release dated July 28, 1997
announcing second quarter 1997 financial results:
FOR IMMEDIATE RELEASE
SIMTEK ANNOUNCES FINANCIAL RESULTS
FOR THE SECOND QUARTER OF 1997
COLORADO SPRINGS, Colorado -- July 28, 1997 -- Simtek Corporation announced
financial results for the second quarter and the first six months of 1997. The
company had a net profit of $99,579 for the second quarter of 1997 compared to a
profit of $12,122 for the same period in 1996. The first six months of 1997
resulted in a net profit of $197,358 compared with a loss of $222,584 for the
same period in 1996.
"Simtek is expanding its markets and improving its internal operations. Both
gross profit margin percentage and internal expenses as a percentage of sales
were favorable this quarter compared to the same quarter last year," stated
Douglas Mitchell, Simtek's Chief Operating Officer.
Simtek's customer base continues to grow for its mature 4Kbit, 16Kbit and 64Kbit
nvSRAM devices. Many new customers are developing products using the company's
recently announced 256Kbit product line. Pre-production quantities of 256Kbit
parts are shipping into new designs with demand for production quantities
expected to start in the fourth quarter. Because of their strict quality and
reliability requirements, industrial and military applications continue to be a
major portion of Simtek's market, but many new applications are developing in
telecommunications and commercial office automation equipment.
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FINANCIAL RESULTS
Three Months Ended June 30, Six Months Ended June 30,
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1997 1996 1997 1996
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<S> <C> <C> <C> <C>
Net sales $ 1,536,243 $ 1,158,624 $ 3,301,761 $ 1,969,718
Cost of sales 834,337 712,707 1,922,568 1,268,519
Gross margin 701,906 445,917 1,379,193 701,199
Gross margin % 45.69% 38.49% 41.77% 35.60%
Total selling, general and
administrative expenses 615,875 443,473 1,213,129 942,614
Income (loss) from operations 86,031 4,908 166,064 (234,668)
Net income (loss) $ 99,579 $ 12,122 $ 197,358 $ (222,584)
Net loss per common share $ 0.00 $ 0.00 $ .01 $ (0.01)
Weighted average number of shares
outstanding 28,521,740 26,978,311 28,521,740 26,978,311
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Simtek Corporation develops, produces and markets high performance nonvolatile
memories. They combine the speed and ease of use of SRAMs with a small, cost
effective, reliable package that retains data without power or the use of
batteries. The Company is headquartered in Colorado Springs, Colorado with
world-wide sales established through independent representatives and
distributors. Simtek is listed under the symbol SRAM on the OTC Electronic
Bulletin Board.
Dr. Richard Petritz For product information:
President and Chief Executive Officer
Simtek Corporation contact [email protected]
1465 Kelly Johnson Boulevard or see our Web page at
Colorado Springs, CO 80920 USA http://www.simtek.com
(719) 531-9444 FAX (719) 531-9481
Editors Note: Please send inquiries to: Communications Department, Simtek
Corporation, 1465 Kelly Johnson Boulevard, Colorado Springs, CO 80920 USA (719)
531-9444, FAX (719) 531-9481.
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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 and hereunto duly authorized.
SIMTEK CORPORATION
/s/ Richard L. Petritz
July 30, 1997 By:____________________________________________
RICHARD L. PETRITZ
Chief Execuitve Officer and Chief
Financial Officer (acting)
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