Ramtron International Corp. (NASDAQ:RMTR) entered the market yesterday far above its previous close and reached its 52-week high at $3.76 toward the end of the trading session. Such exploding trading volumes had not been seen since March this year and yesterday more than 400,000 shares of the company were traded. The new top closing price was $3.56 for a share and the stock currently trades far above its 50-day and 200-day moving averages.
The high trading happened on the announced second-quarter results on Tuesday, which were in addition discussed by the management in a question-and-answer conference call on the same day. Along with the 74% growth in the product revenues during this year’s second quarter as compared to the same period last year, the developer and supplier of semiconductor products reported increased net income of $357,000. The operations are now also more profitable with a higher gross profit margin of 49%.
According to Ramtron CEO Bill Staunton, the high-growth results are due to the increasing demand across all segments and all regions and also to the company being able to adjust its product and solution in response to customer needs and expectations. Further, Staunton mentions Ramtron’s significant progress on their IBM foundry project and sees the delivery to customers of the first engineering samples within the next month.
On the spectacular results so far, management guidance for the whole year is also enhanced. Ramtron now expects total revenue to be up to $73 million and the GAAP net income to further modestly increase. Additional cash to cover the operations and other corporate needs was also secured. The news came at the beginning of the month and were broadly spread out by some penny stock newsletters, sent out to investors to provide for high demand for the stock and to make investors aware of the good prospects.
According to some free penny stock newsletters and as confirmed in a SEC filing from July 1, Ramtron’s existent loan facility with Silicon Valley Bank from last August has been extended to provide additional $6 million loan with a fixed annual interest rate of 6.5%. The term of the loan is four years and is supplemental to the previous $6 million line of credit with the same bank.
About BeaconEquity.com
BeaconEquity.com is committed to producing the highest-quality insight and analysis of small cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily on the underserved OTC stocks market, or “penny stock” market, which has traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.
Beacon Equity Group Disclaimer
This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
