Ceramics Process Systems Corp. (CPS) recently announced net income of $169,000, or $0.01 per basic and diluted common share, on revenue of $1.7 million for the fiscal quarter ended March 27, 2004. This compares with a net loss of $206,000, or $0.02 per basic and diluted common share, on revenue of $595,000 for the fiscal quarter ended March 29, 2003. "The significantly improved performance reflects two positive developments: 1) increasing revenue from new products, particularly lids and heat spreaders for flip chip applications, and 2) revenue from existing products is beginning to stabilize after several quarters of significant volatility and uncertainty caused by the telecom bubble," said Grant Bennett, president.
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