Ramtron turns loss into income

Net income for the first quarter of 2012 was $445,000, or $0.01 per share, compared with a net loss of $2.4 million, or $0.09 per share, for the first quarter of 2011. “As expected, revenue for the first quarter was higher than last year and order flow began to normalize following last year’s supply constraints,” said Eric Balzer, Ramtron’s chief executive officer. “For the remainder of 2012, we are focused on driving demand through new product development and intensified sales and marketing activities. Since the beginning of the year, we have introduced three new products, signed a new distributor partner, and formed a partnership with a leader in data security solutions.” “With indications of improving demand and ample supply available for immediate delivery, we still expect to increase revenue and profitability throughout the year while strengthening our balance sheet through inventory reductions and cash generation. By driving demand and expanding our addressable market in 2012, we are positioning the company for a growth trajectory in 2013 and beyond,” Balzer added. Business Outlook for full-year 2012:

• total revenue of approximately $70 million with a gross product margin of 52%
• Total operating expenses of 46% of total revenue. By expense line item, sales and marketing to be 14% of total revenue, research and development to be 23% of total revenue, and general and administrative to be 9% of total revenue
• Reflecting first quarter 2012 results and operational efficiencies, management now expects GAAP net income of approximately $0.06 per share for the full-year 2012