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 20, 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 second quarter
of 1999, dated July 19, 1999 was released by the Registrant:
[SIMTEK LOGO]
SIMTEK ANNOUNCES FINANCIAL RESULTS
FOR THE SECOND QUARTER OF 1999
COLORADO SPRINGS, Colorado - July 19, 1999 - Simtek Corporation, provider of the
world's fastest re-programmable nonvolatile semiconductor memories, announced
financial results for the second quarter ending June 30, 1999. The company
posted a net profit of $27,422 for the second quarter of 1999 on revenue of
$1,937,669, compared with a net profit of $53,288 for the second quarter of 1998
on revenue of $1,801,948. This represents growth from the first quarter of 1999
when Simtek posted a loss of $68,387 on revenue of $1,368,637.
"During the second quarter, Simtek's customers began ramping up production of
systems that had been held up for the past nine months due to poor international
demand. We were able to accelerate our production and fill the manufacturing
pipeline quickly. These market activities are encouraging as they demonstrate
increased demand for our products in systems that we have worked on for the past
year," stated Douglas Mitchell, Simtek's president and CEO. "We are
concentrating on increasing market share against competing nonvolatile memory
technologies in applications where reliability and performance are key
requirements. Current demand forecasts indicate that this strategy is showing
positive results."
FINANCIAL RESULTS
<TABLE>
<CAPTION>
Three Months ended June 30 Six Months ended June 30
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1999 1998 1999 1998
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<S> <C> <C> <C> <C>
Net Sales $1,937,669 $1,801,948 $3,306,307 $3,341,279
Cost of Goods Sold 1,214,699 1,015,389 2,034,095 1,824,600
Gross Margin 722,970 786,559 1,272,213 1,516,679
Total selling, general and 660,787 734,810 1,267,805 1,341,936
administrative expenses
Net Income (loss) 27,422 53,288 (40,964) 178,309
Basic and diluted Earnings per 0.00 0.00 0.00 0.01
Share
Weighted Average Shares 28,955,226 28,708,826 28,955,226 28,708,826
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. ###
Editors Note: Please send inquiries to: Simtek Corporation, 1465 Kelly Johnson
Boulevard, Colorado Springs, CO 80920 USA. (719) 531-9444, FAX (719) 531-9481.
2
<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
July 20, 1999 By: /s/Douglas Mitchell
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DOUGLAS MITCHELL
Chief Executive Officer,
President and Chief Financial
Officer (acting)
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