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) November 1, 1999
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:
(1) The press release announcing financial results for the third quarter of
1999, dated October 29, 1999 was released by the Registrant:
SIMTEK ANNOUNCES FINANCIAL RESULTS
FOR THE THIRD QUARTER OF 1999
COLORADO SPRINGS, Colorado - October 29, 1999 - Simtek Corporation, provider of
the world's fastest re-programmable nonvolatile semiconductor memories,
announced financial results for the third quarter ending September 30, 1999. The
company posted a net loss of $105,577 for the third quarter of 1999 on revenue
of $1,633,348, compared with a net profit of $21,148 for the third quarter of
1998 on revenue of $1,464,760.
"During the third quarter, Simtek expected short-term demand for military
products to be down due to cyclical government contract requirements. We did,
however, plan to more than compensate for this with increased commercial
shipments. Even though customer demand was strong, we experienced a delay in
manufacturing a significant number of parts through our subcontractors,
resulting in lower revenues than we had forecast. These production issues have
been resolved and will allow us to catch up with growing customer demand in the
fourth quarter," stated Douglas Mitchell, Simtek's president and CEO. "The
overall semiconductor forecast remains strong and Simtek is seeing similar
demand for its nvSRAM products for the foreseeable future."
<TABLE>
<CAPTION>
FINANCIAL RESULTS
Three Months ended Sept 30 Nine Months ended Sept 30
1999 1998 1999 1998
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<S> <C> <C> <C> <C>
Net Sales $1,633,348 $1,464,760 $4,939,654 $4,806,039
Cost of Goods Sold 1,121,868 843,025 3,155,963 2,667,625
Gross Margin 511,480 621,735 1,783,691 2,138,414
Total selling, general and 608,076 598,906 1,875,881 1,940,842
Administrative expenses
Other Income (expense) (8,981) (1,681) (54,353) 12,245
Net Income (loss) (105,577) 17,383 (146,543) 195,692
Basic and diluted Earnings per 0.00 0.00 0.00 0.01
Share
Weighted Average Shares 28,955,226 28,721,138 28,913,431 28,721,138
Outstanding
</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
Novembwe 1, 1999 By: /s/Douglas Mitchell
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DOUGLAS MITCHELL
Chief Executive Officer,
President and Chief Financial
Officer (acting)
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