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) April 20, 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 April 20, 1998,
announcing its financial results for the first quarter of 1998:
SIMTEK ANNOUNCES FINANCIAL RESULTS
FOR THE FIRST QUARTER OF 1998
COLORADO SPRINGS, Colorado - April 20, 1998 -- Simtek Corporation, provider of
the world's fastest re-programmable nonvolatile semiconductor memories,
announced financial results for the first quarter of 1998 ending March 31, 1998.
The company posted a net profit of $125,021 for the first quarter of 1998,
compared with a profit of $97,780 for the first quarter of 1997. This is the
15th consecutive quarter that profitability has improved over the previous
years' results. Profitability improved due to increased gross profit margin and
reduction of internal expense as a percentage of sales. Simtek's long-term trend
of increasing sales was boosted in the first quarter by record new order
bookings of approximately $2 million.
"Simtek's performance in the first quarter is in line with expectations," stated
Douglas Mitchell, Simtek's president and CEO. "We had excellent bookings levels
during the quarter with a book-to-bill ratio of 1.27, showing strong demand for
our products. We see continued growing interest in the nvSRAM products,
especially as we further develop interest in the newest 256K products."
Book-to-bill ratio is a commonly used index of new orders placed compared to
shipments in that period. A ratio greater than 1 means that the Company's future
backlog requirements are growing.
FINANCIAL RESULTS
Three Months ended March 31
1998 1997
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Net Sales $1,539,331 $1,765,518
Cost of Sales 809,211 1,088,231
Gross Margin 730,121 677,287
Total selling, general and 607,126 597,254
administrative expenses
Net Income (loss) 125,021 97,780
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. ###
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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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
April 22, 1998 By: /s/ Douglas Mitchell
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DOUGLAS MITCHELL
Chief Executive Officer
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