Catalyst Semiconductor Announces First-Quarter Financial ResultsAugust 22, 2001 by Jeff Shepard
Catalyst Semiconductor Inc. (Sunnyvale, CA) announced financial results for its first fiscal quarter ended July 31, 2001.
In the first quarter, Catalyst earned $371,000, or $0.02 per diluted share, on revenues of $10.5 million. This compares with earnings of $8.2 million, or $0.40 per diluted share, on revenues of $25.4 million in the first quarter a year ago. In the fourth quarter of fiscal 2001, Catalyst reported net income of $1.7 million, or $0.09 per diluted share, on revenues of $17.2 million.
As of July 31, Catalyst had cash and cash equivalents of $28.5 million, a decrease of $2.0 million versus the previous quarter, which primarily reflects the payoff of the remaining $2.0 million balance of a bank loan. Catalyst is now free of any bank debt. Stockholders' equity increased by $452,000 during the quarter, to a total of $39.6 million as of July 31, 2001.
"Continuing pressure on first-quarter bookings and prices indicates that we continue to see the same business slowdown that virtually all technology companies have been facing," said Radu Vanco, chairman and CEO.