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) May 13, 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 Registrant issued the following press release dated May 13, 1999 titled
"Simtek Announces Financial Results for the First Quarter of 1999":
SIMTEK ANNOUNCES FINANCIAL RESULTS
FOR THE FIRST QUARTER OF 1999
COLORADO SPRINGS, Colorado - May 13, 1999 - Simtek Corporation, provider of the
world's fastest re-programmable nonvolatile semiconductor memories, announced
financial results for the first quarter ending March 31, 1999. The company
posted a net loss of $68,387 for the first quarter of 1999, compared with a net
profit of $125,021 for the first quarter of 1998.
"Simtek's performance in the first quarter was in line with expectations,"
stated Douglas Mitchell, Simtek's president and CEO. "We expected revenue to be
consistent with the fourth quarter of 1998 as we wait for foreign economies to
recover. Business in North America is strong, and we expect our international
markets to catch up mid-year. We look forward to growing demand and are already
seeing increased order activity."
FINANCIAL RESULTS
Three Months ended March 31
1999 1998
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Net Sales $1,368,637 $1,539,331
Cost of Sales 819,396 809,211
Gross Margin 549,241 730,120
Total selling, general and 607,017 607,126
administrative expenses
Income (loss) from Operations (57,776) 122,994
Other Income (Expense) (10,611) 12,387
Net Income (loss) before Taxes (68,387) 135,381
Provision for Income Taxes - 10,360
Net Income (loss) and (68,387) 125,021
Comprehensive Income (loss)
Basic and Diluted EPS 0.00 0.00
Basic Weighted Average Shares 28,828,448 28,695,916
Outstanding
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
May 17, 1999 By: /s/Douglas Mitchell
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DOUGLAS MITCHELL
Chief Executive Officer
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