ACS-Tech80 Ltd (ACSEF) - 500 Beiträge pro Seite

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ACS-Tech80 Ltd. Reports Third Quarter Results
Monday October 31, 4:31 am ET


MIGDAL HA`EMEK, Israel, October 31 /PRNewswire-FirstCall/ -- ACS-Tech80 Ltd., (Nasdaq: ACSEF - news), a developer of proprietary software and advanced electronics for the production of universal, fully digital motion control products, today reports third quarter revenues and earnings.
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Revenues for the third quarter of 2005 were $3,173,000, a decrease of 22.7% from the $4,108,000 revenues reported in the third quarter of 2004, and an increase of 11.5% from the $2,846,000 revenues reported for the second quarter of 2005. Revenues for the first nine months of 2005 were $8,522,000, a decrease of 21% from the $10,792,000 revenues reported in the first nine months of 2004.

Operating income for the third quarter of 2005 was $527,000, compared to $785,000 in the third quarter of 2004, and $319,000 in the second quarter of 2005. Operating income for the first nine months of 2005 was $874,000, compared to $2,113,000 in the first nine months of 2004.

Net income for the third quarter of 2005 was $465,000, or $0.15 per share, compared to $735,000 net income, or $0.22 per share in the third quarter of 2004, and $145,000 net income, or $0.05 per share in the second quarter of 2005. Net income for the first nine months of 2005 was $650,000, or $0.21 per share, compared to $1,877,000 net income, or $0.56 per share reported in the first nine months of 2004.

The company completed the third quarter of 2005 with cash, cash equivalents, marketable securities and debt securities of approximately $4.3 million, compared to $3.6 million at the end of 2004, due principally to a positive operating cash flow.

The decline in revenues compared to the same period in 2004 is mainly attributed to a temporary business decline experienced by a large customer in the field of Electronics manufacturing equipment, who expects business increase in the last quarter of this year and throughout fiscal year 2006.

We expect that for the second half of 2005 the total revenues will be in the upper range of our previous estimation of 5% to 10% increase when compared to the first half of 2005. Based on current market conditions and new design wins that will positively affect our results in the next 12 months, we expect our revenues in the first half of 2006 to increase by approximately 5% to 10% when compared to the second half of 2005.

This press release contains forward-looking statements. Such statements involve various risks that may cause actual results to differ materially. These risks and uncertainties include, but are not limited to: market demand for the Company`s product, successful implementation of the Company`s product, competitive factors, the ability to manage the Company`s growth and the ability to recruit additional personnel.


Contact: Ze`ev Kirshenboim, CEO, ACS-Tech80 Ltd. ([phone])

2005, Q3 Consolidated Nine months Three months Year
Statements of Operations ended ended ended
September 30, September 30, December
31,
2005 2004 2005 2004 2004
Consolidated
U.S. Dollars in thousands

Revenues 8,522 10,792 3,173 4,108 14,376
Cost of revenues 4,111 5,796 1,482 2,242 7,602

Gross profit 4,411 4,996 1,691 1,866 6,774
Research and development costs
Costs incurred 1,192 1,177 374 439 1,668
Less-grants received (17) (247) (17) (77) (247)
Net research and development costs 1,175 930 357 362 1,421

Proceeds from insurance claim - (182) - - (182)
Selling, general and administrative 2,362 2,135 807 719 3,001
expenses, net
Total operating costs 3,537 2,883 1,164 1,081 4,240

Operating income 874 2,113 527 785 2,534
Financing income (expenses), net (14) (77) 9 (13) (26)
Other income (expenses), net 3 (3) 4 - (20)
Income before taxes on income 863 2,033 540 772 2,488
Taxes on income, net (213) (156) (75) (37) (235)

Net income 650 1,877 465 735 2,253

Earnings per Ordinary Share in U.S.
Dollars
Basic 0.21 0.56 0.15 0.22 0.70
Diluted 0.17 0.56 0.11 0.22 0.66

Weighted average number of Shares
used
in computation of earnings per share
Basic - in thousands 3,133 3,334 3,133 3,334 3,210
Diluted - in thousands 3,475 3,394 3,481 3,392 3,383



2005, Q3 Consolidated Balance Sheets September 30, December
31,
2005 2004 2004
Consolidated
U.S. Dollars in thousands
ASSETS
Current assets
Cash and cash equivalents 1,309 2,147 2,626
Marketable securities 304 - -
Debt securities held to maturity 713 - -
Trade receivables, net 2,725 3,747 3,170
Inventories 2,998 2,933 2,784
Other 311 577 376
Total current assets 8,360 9,404 8,956

Long-term assets
Deferred income taxes 128 130 142
Debt securities held to maturity 1,931 500 1,000
Investment in other company 1,218 1,218 1,218
Other long-term assets 110 100 105
3,387 1,948 2,465

Property and equipment
Cost 3,448 3,428 3,418
Less - accumulated depreciation 2,724 2,456 2,498
724 972 920

12,471 12,324 12,341

LIABILITIES AND SHAREHOLDERS` EQUITY
Current liabilities
Trade payables 1,062 2,132 1,376
Accounts payable and other accruals 1,033 893 1,229
Total current liabilities 2,095 3,025 2,605
Long-term liabilities
Long-term accrued expenses - 23 -
Accrued severance pay, net 139 145 152
Total long-term liabilities 139 168 152
Shareholders` equity
Share capital - Ordinary Shares of
NIS 0.01 par value
(Authorized: 8,000,000; Issued and
outstanding:
September 30, 2005 - 3,102,147,
September 30, 2004- 3,051,346
Dec 31, 2004 - 3,101,647) 9 9 9
Treasury stock (September 30, 2005 (346) (346) (346)
and 2004 - 24,801,

Dec 31, 2004- 24,801)
Additional paid-in capital 6,716 6,636 6,713
Retained earnings 3,858 2,832 3,208
10,237 9,131 9,584

12,471 12,324 12,341






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Source: ACS-Tech80 Ltd.

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ACS Motion Control Reports First Quarter Results
Wednesday April 26, 1:18 pm ET


MIGDAL HA'EMEK, Israel, April 26 /PRNewswire-FirstCall/ -- ACS Motion Control Ltd., (Nasdaq: ACSEF - News), a developer and manufacturer of advanced motion control products, today reports first quarter results.
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Revenues for the first quarter of 2006 were $3,801,000, an increase of 52% from the $2,503,000 revenues reported in the first quarter of 2005, and an increase of 31% from the $2,906,000 revenues reported for the fourth quarter of 2005.

Net income for the first quarter of 2006 was $624,000, or $0.20 per share, compared to $40,000 net income, or $0.01 per share in the first quarter of 2005, and $324,000 net income, or $0.10 per share in the fourth quarter of 2005.

Operating income for the first quarter of 2006 was $589,000, compared to $28,000 in the first quarter of 2005, and $148,000 in the fourth quarter of 2005.

The company completed the first quarter of 2006 with cash, cash equivalents and marketable securities of approximately $5 million, compared to $3.8 million at the end of the first quarter of 2005, due to a positive cash flow from operations.

The increase in revenues is attributed to growth in the markets that we serve, to the gaining of new customers and new projects with existing customers.

Based on current improved market conditions and backlog of customer orders, we expect that revenues in the next two quarters will increase by 10% to 15% as compared to revenues in the last two quarters.

This press release contains forward-looking statements. Such statements involve various risks that may cause actual results to differ materially. These risks and uncertainties include, but are not limited to: market demand for the Company's product, successful implementation of the Company's product, competitive factors, the ability to manage the Company's growth and the ability to recruit additional personnel.


2006, Q1 Consolidated Statement of Operations

Three months ended Year ended

March 31, December 31,
2006 2005 2005
Consolidated
U.S. Dollars in thousands
Revenues 3,801 2,503 11,428

Cost of revenues 1,856 1,281 5,657
Gross profit 1,945 1,222 5,771

Research and development costs
Costs incurred 500 408 1,629
Less-grants received - - (17)
Net research and development costs 500 408 1,612

Selling, general and administrative 856 786 3,137
expenses, net
Total operating costs 1,356 1,194 4,749

Operating income 589 28 1,022

Financing income, net 63 34 12
Other income (expenses), net - (1) 4
Income before taxes on income 652 61 1,038

Taxes on income, net (28) (21) (64)

Net income 624 40 974

Earnings per Ordinary Share
in U.S. Dollars
Basic 0.20 0.01 0.32

Weighted average number of Shares used
in computation of earnings per share
Basic - in thousands 3,089 3,077 3,078



2006, Q1 Consolidated Balance Sheet
March 31, December 31,
2006 2005 2005
Consolidated
U.S. Dollars in thousands
ASSETS
Current assets
Cash and cash equivalents 1,136 2,575 1,641
Short-term marketable securities 693 258 511
Marketable debt securities 1,001 - 724
Trade receivables, net 3,352 2,186 2,517
Inventories 2,841 2,756 2,833
Other 457 530 330
Total current assets 9,480 8,305 8,556

Long-term assets
Deferred income taxes 118 143 121
Marketable debt securities 2,216 1,000 2,201
Investment in other company 1,218 1,218 1,218
Long-term assets 115 101 120
3,667 2,462 3,660

Property and equipment
Cost 3,524 3,471 3,465
Less - accumulated depreciation (2,893) (2,591) (2,810)
631 880 655

13,778 11,647 12,871

Liabilities and Shareholders' Equity
Current liabilities
Trade payables 1,515 934 1,118
Other 883 945 1,030
Total current liabilities 2,398 1,879 2,148

Long-term liabilities
Accrued severance pay, net 167 144 134
Total long-term liabilities 167 144 134

Shareholders' equity
Share capital - Ordinary Shares of NIS
0.01 par value
Authorized:- 8,000,000 shares
Issued - March 31, 2006 and December
31, 2005 - 3,113,577, March 31 2005 -
3,102,147
Outstanding - March 31, 2006 and
December 31, 2005 - 3,088,776,
March 31, 2005 - 3,077,346 10 9 10
Treasury stock (March 31,2006 and 2005-
24,801
Dec 31, 2005- 24,801) (346) (346) (346)
Additional paid-in capital 6,743 6,713 6,743
Retained earnings 4,806 3,248 4,182
11,213 9,624 10,589
13,778 11,647 12,871



Contact:
Ze'ev Kirshenboim, CEO,
ACS Motion Control Ltd.
[phone]






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Source: ACS Motion Control