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 28, 2000
SIMTEK CORPORATION
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Colorado 0-19027 84-1057605
- ----------------- ------------ -------------------
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
1465 Kelly Johnson Boulevard
Colorado Springs, Colorado 80920
---------------------------------------- --------
(Address of principal executive offices) Zip Code
Registrant's telephone, including area code: (719) 531-9444
Not applicable
-----------------------------------------------------------
Former name or former address, if changed since last report
<PAGE>
Item 5: Other Information:
(1) The following press release "Simtek Announces Financial Results for the
First Quarter of 1999" was released on April 25, 2000:
SIMTEK ANNOUNCES FINANCIAL RESULTS
FOR THE FIRST QUARTER OF 2000
COLORADO SPRINGS, Colorado - April 25, 2000 -- Simtek Corporation, provider
of the world=s fastest re-programmable nonvolatile semiconductor memories,
announced financial results for the first quarter ending March 31, 2000.
The company posted revenue of approximately $2,500,000 and net income of
almost $300,000 for the first quarter of 2000. This compares to revenue of less
than $1,400,000 and a net loss of approximately $68,000 for the same period of
1999.
Simtek began the quarter with orders totalling $1,440,000 and ended the
period with orders shippable within a six month period worth $3,250,000,
resulting from a 1.7 book to bill ratio. This reflects increasing demand for
Simtek's products and includes new orders across the Company=s entire product
family. Shipments in the first quarter grew throughout all of Simtek=s major
markets in North America, Japan, Southeast Asia and Europe. The office
automation application segment was the strongest growth area, which includes
mass storage systems and copiers.
"The strong performance that Simtek showed in the first quarter reflects
the overall strength of the electronics market, as well as the robust demand for
Simtek's family of products," stated Douglas Mitchell, Simtek's president and
CEO. "We have succeeded in producing and marketing parts that provide unique
value to manufacturers during the rapid deployment of their newest systems. We
have been preparing to meet this kind of sales growth and are now ready to
support a very strong new year."
FINANCIAL RESULTS
Three Months ended March 31
2000 1999
---------- ----------
Net Sales $2,513,393 $1,368,637
Cost of Sales 1,493,186 819,396
Gross Margin 1,020,207 549,241
Total Operating Expenses 719,831 607,017
Income (loss) from Operations 300,376 (57,776)
Other Income (Expense) 4,992 (10,611)
Net Income (Loss) before Taxes 305,368 (68,387)
Provision for income taxes 5,600 -
Net Income (Loss) 299,768 (68,387)
Net Income per Diluted Common Share 0.01 0.00
Dilutive Shares Outstanding 35,427,048 28,828,448
-2-
<PAGE>
Simtek Corporation develops, produces and markets the world's fastest re-
programmable nonvolatile semiconductor memories. "Nonvolatile" refers to the
product's ability to retain data stored in memory when electrical power is
removed from the device. Information on Simtek products can be obtained from its
web page: www.simtek.com; email: [email protected]; 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.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements predicting the
availability of new products during 2000 and statements by Mr. Mitchell
predicting the Company's future growth. Such statements involve risks and
uncertainties, and actual results could differ materially from the results
anticipated in such forward- looking statements as a result of a number of
factors, including, but not limited to, the risk of delays in the availability
of new products due to technological, market or financial factors including the
availability of necessary working capital, or the other factors described in the
Company's most recent Form 10-KSB and Form 10-QSB filed with the Securities and
Exchange Commission.
-3-
<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
April 28, 2000 By: /s/Douglas Mitchell
---------------------------------------
DOUGLAS MITCHELL
Chief Executive Officer, President and
Chief Financial Officer (acting)
-4-
