Alberta Microelectronic Corporation Announces Year-end Results
Edmonton, Alberta, June 13, 2000 - Alberta Microelectronic Corporation (AMC), a leader in microfabrication technology, announced today another year of growth and profitability. AMC is a private company based in Edmonton, Alberta.
Revenues for the year ended March 31, 2000 are $8.7 million, an increase of 19% over the previous year. Net income and operating cash flow are positive for the second straight year, with net income 260% higher than 1999. As of March 31, 2000, AMC had over $2.7 million in cash, over $8 million in assets and a strong balance sheet.
"The past year has been an excellent one for us," said Chris Lumb, CEO of AMC. "Among the accomplishments that have contributed to our meeting the aggressive targets that we set for this past fiscal year are the private equity placement that we completed with PE Biosystems, and the continued strong growth of our thin film electronic components business. In addition, we are moving strongly forward in continuing to grow our microfluidics-related revenues in the biotechnology market". While AMC has no immediate plans to go public, an IPO remains an option for the future. AMC has 77 employees and is completing construction of its new 40,000 sq.ft. facility, which will be ready later this month.
About Alberta Microelectronic Corporation
Alberta Microelectronic Corporation applies semiconductor microfabrication technology to the design and manufacture of devices and related instrumentation for biotechnology and telecommunications applications. AMC is recognized for its ability to use microfabrication techniques to make microfluidic devices, which are miniaturized components that are enabling radical improvements in genetic analysis, drug discovery and bioinstrumentation. AMC is working towards its vision of being a leader in supplying the world market for microfluidic and other microfabricated devices.
For further information contact:
Mr. Chris Lumb
President & CEO
Micralyne Inc.
1911 - 94 Street
Edmonton, Alberta
Canada T6N 1E6
Phone: 780-431-4400
clumb@micralyne.com
