Ceramics Process Systems Corporation (CPS) recently announced a net loss of $335 thousand, or $0.03 per basic and diluted common share, on revenue of $965 thousand for the fiscal quarter ended March 31, 2001. This compares with a net income of $109 thousand, or $0.01 per basic common share, $0.01 per fully diluted common share, on revenue of $1.35 million for the fiscal quarter ended April 1, 2000.

Grant Bennett, president, said, "We entered Q1 2001 with staffing and expense levels appropriate to support customer forecasts which were slightly above Q4 2000 revenues, but as the quarter progressed customers reduced short-term demand. Few orders were cancelled but most customers delayed shipment releases. Demand in the first month of the quarter was near forecast, but as the quarter progressed demand fell increasingly below forecast. As a result, Q1 2001 revenues were 29% lower than the same period a year ago. We continued to receive and fulfill prototype and evaluation orders for new products during Q1 which we believe demonstrates the increasing need for thermal management solutions in the microelectronics marketplace."

The company's website is located at http://www.alsic.com.