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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
January 5, 1998
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)
OREGON 93-0840631
(State or other jurisdiction of incorporation or (I.R.S. Employer
organization) Identification No.)
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 SALES AND EARNINGS FOR THE FOURTH QUARTER WILL BE BELOW
ANALYSTS' CONSENSUS.
On January 5, 1998, Integrated Measurement Systems, Inc. announced
Q4 1997 sales and earnings will not meet analysts' 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 SALES AND EARNINGS FOR THE
FOURTH 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 January 6, 1998.
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 SALES AND EARNINGS FOR THE FOURTH QUARTER WILL BE BELOW
ANALYSTS' CONSENSUS
Beaverton, OR - January 5, 1998 - Integrated Measurement Systems, Inc.
(NASDAQ: IMSC) announced Q4 1997 sales and earnings will not meet analysts'
expectations. Based on unaudited preliminary estimates, the Company now expects
quarterly revenues to be between $10.0 and $10.5 million as compared to
analysts' consensus estimates of $13.5 million. As a result, earnings per share
will be between $.07 - $.09 versus analysts' consensus of $.23 per share for Q4
1997.
"WE ARE DISAPPOINTED BY THESE RESULTS," said KEITH BARNES, PRESIDENT AND
CHIEF EXECUTIVE OFFICER. "THEY ARE A DIRECT CONSEQUENCE OF END-OF-QUARTER
SLIPPAGE OF A FEW ORDERS IN THE SYSTEMS BUSINESS REFLECTING CAPITAL EXPENDITURE
DELAYS BY SOME CUSTOMERS. WE EXPECT MOST OF THESE ORDERS TO BOOK DURING THE
FIRST FEW MONTHS OF 1998.
ON THE OTHER HAND, THE VIRTUAL TEST DIVISION AS WELL AS OUR MIXED SIGNAL
BUSINESS IS EXPECTED TO YIELD GOOD RESULTS AND THE COMPANY OVERALL BUILT BACKLOG
FOR THE QUARTER. IN ADDITION, ONE OF OUR KEY CUSTOMERS PLACED A $1.5 MILLION
ORDER IN THE BEGINNING OF JANUARY FOR OUR NEXT GENERATION SYSTEM WHICH WE ARE
PLANNING TO SHIP IN THE Q3-Q4 1998 TIMEFRAME. WE CONSIDER THIS A POSITIVE
INDICATOR.
WE CONTINUE TO HAVE HIGH CONFIDENCE IN OUR STRATEGIES, POSITIONING, PRODUCT
QUALITY AND BELIEVE THE LONG-TERM PROSPECT OF OUR BUSINESS REMAINS STRONG."
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IMS designs, manufactures, markets and services a family of versatile, high
performance engineering Test Stations used to verify and characterize complex
electronic devices. 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.
