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) March 9, 1998
SIMTEK CORPORATION
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(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, including area code: (719) 531-9444
Not applicable
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Former name or former address, if changed since last report
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ITEM 5: OTHER INFORMATION:
The Registrant issued the following press release, dated March 9, 1998,
announcing it financial results for 1997:
SIMTEK ANNOUNCES FINANCIAL RESULTS FOR 1997;
SHOWS IMPROVED PROFITS AND REVENUE GROWTH
COLORADO SPRINGS, Colorado - March 9, 1998 - Simtek Corporation announced
financial results for the fourth quarter of 1997 and for the year ended 1997.
The Company had a net income of $425,182 for the fourth quarter and net income
of $788,618 for the year. This compares to $316,662 and $144,516, respectively,
in 1996. Net revenues totaled $6,632,186 for 1997 compared to $5,196,653 for
1996.
Simtek was recently listed in the Deloitte & Touche listing of America's 500
fastest growing high technology companies with revenue growth of 913% over the 5
year period from 1992 through 1996.
"Even though we grew revenue by 27% from 1996 to 1997 the company grew profits
by over 400%. This was a year of making our operation efficient and viable for
the long term," stated Douglas Mitchell, Simtek's president and CEO. "In 1998 we
will focus more on market expansion and new product development. There remain
great opportunities for Simtek's technology and products in the marketplace and
we plan to invest our efforts in 1998 towards winning designs in more
high-volume applications."
<TABLE>
<CAPTION>
Three Months ended Year ended
December 31 December 31
1997 1996 1997 1996
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<S> <C> <C> <C> <C>
Net Sales $1,747,889 $1,676,935 $6,632,186 $5,196,653
Cost of Sales 848,471 869,202 3,676,432 3,073,611
Gross Margin 899,418 807,733 2,955,754 2,123,042
Total selling, general and 486,118 489,936 2,221,432 2,000,922
administrative expenses
Net Income (loss) 425,182 316,662 788,618 144,516
Basic and diluted EPS N/A N/A .03 .01
</TABLE>
Simtek Corporation develops, produces and markets the world's fastest
re-programmable nonvolatile semiconductor memories. Information on Simtek
products can be obtained from its web page www.simtek.com, email [email protected]
or by calling (719) 531-9444 or FAX (719) 531-9481. The company is headquartered
in Colorado Springs, Colorado, with international sales and marketing channels.
Simtek is listed under the symbol SRAM on the OTC Electronic Bulletin Board.
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Editors Note: Please send inquiries to: Simtek Corporation, 1465 Kelly Johnson
Boulevard, Colorado Springs, CO 80920 USA. (719) 531-9444, FAX (719) 531-9481.
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<PAGE>
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
March 11, 1998 By: /s/ Douglas Mitchell
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DOUGLAS MITCHELL
Chief Executive Officer
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