Tegal Corp. (TGAL, Financial) filed Quarterly Report for the period ended 2012-06-30.
Tegal Corporation has a market cap of $5.6 million; its shares were traded at around $3.15 with and P/S ratio of 56.3.
With the sale of the DRIE product line, the Company s sole source of revenue for the three months ended June 30, 2012 is from project activities related to Sequel Power. Comparing revenue for the prior period, revenue of $25 for the three months ended June 30, 2012 increased by $6 from revenue for the three months ended June 30, 2011 of $19.
As a percentage of total revenue for the three months ended June 30, 2012 and 2011, respectively, international sales were 0%. The Company s historical operations had revenues in international markets. If our efforts to continue to support Sequel Power are successful, we expect that international sales will once again account for a significant portion of any future revenue, since Sequel Power s development projects are located in several countries outside the United States.
Comparing gross profit for the prior period, gross profit of $25 for the three months ended June 30, 2012 increased from our gross profit $19 for the three months ended June 30, 2011.
The Company recorded a net $0 loss in earnings of the unconsolidated affiliate and $0 of amortization expenses related to the difference between the net book value of Sequel s assets and the cost of the investment for the three months ended June 30, 2012. The Company recorded a net $107 loss in earnings of the unconsolidated affiliate and $43 of amortization expenses related to the difference between the net book value of Sequel s assets and the cost of the investment for the three months ended June 30, 2011. Currently, the net book value of the Sequel Power investment is zero.
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Tegal Corporation has a market cap of $5.6 million; its shares were traded at around $3.15 with and P/S ratio of 56.3.
Highlight of Business Operations:
We prepare the condensed consolidated financial statements in conformity with generally accepted accounting principles (“GAAP”) in the United States which requires management to make certain estimates, judgments and assumptions that affect the reported amounts in the accompanying condensed consolidated financial statements, disclosure of contingent assets and liabilities and related footnotes. Accounting and disclosure decisions with respect to material transactions that are subject to significant management judgment or estimates include but are not limited to revenue recognition, accounting for stock-based compensation, accounts for receivables and allowance for doubtful accounts, impairment of long-lived assets and warranty obligations. Actual results may differ from these estimates under different assumptions or conditions. Critical accounting policies are defined as those that are required for management to make estimates, judgments and assumptions giving due consideration to materiality, in certain circumstances that affect amounts reported in the condensed, consolidated financial statements, and potentially result in materially different results under different conditions and assumptions. We based these estimates and assumptions on historical experience and evaluate them on an on-going basis to help ensure they remain reasonable under current conditions. Actual results could differ from those estimates. During the three months ended June 30, 2012, there were no significant changes to the critical accounting policies and estimates discussed in the Company s 2012 annual report on Form 10-K.With the sale of the DRIE product line, the Company s sole source of revenue for the three months ended June 30, 2012 is from project activities related to Sequel Power. Comparing revenue for the prior period, revenue of $25 for the three months ended June 30, 2012 increased by $6 from revenue for the three months ended June 30, 2011 of $19.
As a percentage of total revenue for the three months ended June 30, 2012 and 2011, respectively, international sales were 0%. The Company s historical operations had revenues in international markets. If our efforts to continue to support Sequel Power are successful, we expect that international sales will once again account for a significant portion of any future revenue, since Sequel Power s development projects are located in several countries outside the United States.
Comparing gross profit for the prior period, gross profit of $25 for the three months ended June 30, 2012 increased from our gross profit $19 for the three months ended June 30, 2011.
The Company recorded a net $0 loss in earnings of the unconsolidated affiliate and $0 of amortization expenses related to the difference between the net book value of Sequel s assets and the cost of the investment for the three months ended June 30, 2012. The Company recorded a net $107 loss in earnings of the unconsolidated affiliate and $43 of amortization expenses related to the difference between the net book value of Sequel s assets and the cost of the investment for the three months ended June 30, 2011. Currently, the net book value of the Sequel Power investment is zero.
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