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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
July 02, 1997
Date of Report (Date of earliest event reported)
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INTEGRATED MEASUREMENT SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
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<CAPTION>
<S> <C>
OREGON 93-0840631
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)
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Commission File No. 0-26274
9525 S.W. GEMINI DRIVE, BEAVERTON OR 97008
(Address of principal executive officers) (zip code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (503) 626-7117
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ITEM 5. OTHER EVENTS
Press Release
IMS announces net sales and earnings for the second quarter will be below
analysts' consensus.
On July 2, 1997, Integrated Measurement Systems, Inc. announced that
it expects the second quarter results will be below analysts'
consensus expectations. Full text is attached to this report as
Exhibit 99.
ITEM 6. EXHIBITS
(exhibit reference numbers refer to Item 601 of Regulation S-K)
99. Press Release -- IMS announces net sales and earnings for the second
quarter will be below analysts' consensus.
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SIGNATURES
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 thereunto duly authorized on July 2, 1997.
INTEGRATED MEASUREMENT SYSTEMS, INC.
(Registrant)
/s/ Sar Ramadan
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Sar Ramadan
Chief Financial Officer
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EXHIBIT 99
Press Release
FOR IMMEDIATE RELEASE
IMS ANNOUNCES NET SALES AND EARNINGS FOR THE SECOND QUARTER
WILL BE BELOW ANALYSTS' CONSENSUS
Beaverton, OR - July 2, 1997 - Integrated Measurement Systems, Inc.
(NASDAQ: IMSC) announced today that it expects the second quarter results will
be below analysts' consensus expectations.
The Company now expects net sales, for the second quarter, to be
approximately 25% below analysts' consensus estimates of $14.5 million. As a
result, earnings per share will be approximately 45% below analysts' consensus
estimates of $0.26 for the second quarter.
"WE ARE DISAPPOINTED BY THESE RESULTS," SAID KEITH BARNES, PRESIDENT AND
CEO. "THEY ARE A DIRECT CONSEQUENCE OF AN END-OF-QUARTER SLIPPAGE OF A FEW
ORDERS." MR. BARNES EMPHASIZED, HOWEVER, "THE COMPANY'S STRATEGY, POSITIONING,
PRODUCT OFFERINGS, AND THE LONG-TERM PROSPECT FOR THE BUSINESS REMAIN STRONG."
SAR RAMADAN, CHIEF FINANCIAL OFFICER ADDED, "THIS REVENUE SHORTFALL IS
CONFINED TO THE SYSTEMS BUSINESS. THE VIRTUAL TEST DIVISION IS EXPECTED TO YIELD
STRONG RESULTS, AND THE SERVICES BUSINESS IS ANTICIPATED TO MEET EXPECTATIONS.
THE COMPANY'S EXPENSES REMAIN UNDER CONTROL, GROSS MARGIN % WILL BE STRONG, AND
THE COMPANY'S BALANCE SHEET CONTINUES TO BE IN EXCELLENT SHAPE."
IMS designs, manufactures, markets and services a family of versatile, high
performance engineering Test Stations used to verify and characterize complex
electronic device. In addition, the Company develops, markets and supports a
line of Virtual Test Software that permits design and test engineers to automate
test program development and to conduct simulated tests of electronic device
designs prior to the fabrication of the prototype of the actual device.
IMS products enable its customers to shorten time-to-market, enhance
accuracy of design, reduce both the time required to test and the cost of
testing the customers' devices and provide reliable and prompt feedback to both
design and test engineers.
