Atmel Updates Third Quarter 2002 Outlook.Business Editors/High-Tech Writers SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Sept. 17, 2002 Atmel Corporation (Nasdaq:ATML ATML Automatic Test Markup Language ATML Automated Test Markup Language ) today revised its outlook for the third quarter of 2002, ending September 30, 2002. "After reviewing our quarterly financial results to-date, we believe revenues for the third quarter will be 3 to 5 percent below the second quarter 2002," said George Perlegos, Atmel's President and Chief Executive Officer. "The main reason is that business in Europe was slower than expected in August. Based on information currently available to us, we expect our ASIC (Application Specific Integrated Circuit) Pronounced "a-sick." A chip that is custom designed for a specific application rather than a general-purpose chip such as a microprocessor. business to grow in Q3 and beyond. Additionally, we expect our Memory and RF businesses, to be flat in Q3 and start growing in Q4. Our Microcontroller business will be lower in Q3 mainly due to slower military business in Europe, however our AVR (Automatic Voltage Regulation) See voltage regulator. core business continues to grow. "While market conditions continue to be challenging, we are making significant progress with our cost reduction program to return the Company to profitability sooner then we previously estimated," added Perlegos. "As a broad-line supplier of advanced semiconductor products, we believe that the resumption of demand from end markets such as communications, PCs and consumer electronics will lead to a resumption of growth for Atmel." Atmel will hold its regular quarterly conference call after the release of its quarterly earnings on Thursday October 17th after market close. About Atmel Founded in 1984, Atmel Corporation is headquartered in San Jose, Calif. with manufacturing facilities in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe. Atmel designs, manufactures and markets worldwide, advanced logic, mixed-signal, nonvolatile memory See non-volatile memory. and RF semiconductors. Atmel is also a leading provider of system-level integration semiconductor solutions using CMOS (Complementary Metal Oxide Semiconductor) Pronounced "c-moss." The most widely used integrated circuit design. It is found in almost every electronic product from handheld devices to mainframes. , BiCMOS, SiGe, and high-voltage BCDMOS process technologies. Except for historical information contained herein, the matters set forth in this press release are forward looking statements that are subject to risks and uncertainties that could cause actual results to differ materially, including the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new technologies, ability to ramp new products into volume, industry wide shifts in supply and demand for semiconductor products, industry and/or company overcapacity o·ver·ca·pac·i·ty n. Too great a capacity for production of commodities or delivery of services in relation to actual need: the problem of overcapacity in many large industries. , effective and cost efficient utilization of manufacturing capacity, financial stability in foreign markets, ability to integrate and manage acquisitions, and other risks detailed from time to time in the Atmel's SEC reports and filings. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion