“As anticipated, we cleared the remaining backlog related to our supply constraints and began booking and building new business during the fourth quarter,” said Ramtron CEO, Eric Balzer. “However, during the quarter, customers and distributors began to push out orders in response to weakening industry and economic conditions.
“In 2011, in addition to resolving our capacity constraints, we solidified our supply chain, increased our operating efficiency, and enhanced the caliber of our management team,” Balzer continued. “Our task now is to translate our many operational improvements into accelerated growth. We will do that by engaging with top electronics OEMs, intensifying the pace of new product introductions, and expanding our addressable market. With a revamped sales and marketing strategy focused on deepening customer engagements, we are now well positioned to define high value products and speed time to first revenue while continuing to drive F-RAM adoption.”
The following statements are based on Ramtron’s current expectations of results for the first quarter and full-year 2012. These statements are forward looking, and actual results may differ materially from those set forth in these statements. Ramtron intends to continue its policy of not updating forward-looking statements other than in publicly available documents, even if experience or future changes show that anticipated results or events will not be realized.“In light of the near-term demand weakness that the semiconductor industry is facing and the corresponding cautiousness on the part of our distributors, we believe that the first quarter of 2012 will be down sequentially from the fourth quarter and will be the low point for the year,” Balzer said. “However, we intend to remain EBITDA positive and expect EPS to be slightly negative to break even for the first quarter. For the remainder of the year, we expect revenue to improve sequentially and anticipate that we will be EBITDA positive and GAAP profitable for the full year.”
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