California Micro Devices Expects First Quarter Revenue Growth to Be Essentially Flat.MILPITAS, Calif.--(BUSINESS WIRE)--June 11, 1998--California Micro Devices Corporation (NASDAQ/NMS:CAMD CAMD Center for Advanced Microstructures and Devices CAMD Clean Air Markets Division (US EPA) CAMD Computer-Assisted Molecular Design CAMD Chemical Agent and Munitions Disposal CAMD Carl Asmis Memorial Dressage Association ) today provided advanced guidance with regards to the quarter ending June 30, 1998, the first quarter of its fiscal year ending March 31, 1999. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Jeffrey Kalb, president and chief executive officer, "We expect the product revenue this quarter to be essentially flat or a little below last quarter's, and up slightly from last year. Although orders for the first two months of the quarter ending June 30 were slightly ahead of the orders level at the same time last quarter, a greater proportion of this quarter's orders are for delivery in the September quarter and beyond. In other words Adv. 1. in other words - otherwise stated; "in other words, we are broke" put differently , we seem to be getting a lower level of turns orders this quarter compared to last quarter. "This appears to be partly due to inventory corrections at a few major customers as well as general softness in the semiconductor and some segments of the electronic systems industries. As a result, even though we had a positive book-to-bill last quarter of 1.05 to 1, we do not expect to see sequential sales growth in the this quarter compared to last quarter." "On the P&L line, it is too early to know exactly how this will come out, but we don't expect to break even. However, the bottom line this quarter should be dramatically better than last quarter, when there were a number of large one time hits," Kalb continued. The forward-looking statements included above involve a number of risks and uncertainties including, but not limited to, product demand, pricing, market acceptance, competition, risk of dependence on third party suppliers, intellectual property rights and litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , risks in product and technology development and other risk factors detailed in CMD's Form 10K and Form 10Q filings with the Securities and Exchange Commission. Statements contained herein, which are not historical facts, are forward looking statements. The forward-looking statements in this release are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Due to the risk factors discussed herein, the Company's future actual results could differ materially from those discussed above. Headquartered in Milpitas, Calif., California Micro Devices (CMD CMD cerebromacular degeneration. ) designs, manufactures and markets integrated thin film, silicon-based termination and filtering components and active electronic circuitry. Built in ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9000-registered quality system environments, CMD's products target the requirements of computer, networking and communication-based system manufacturers for smaller, high-density devices that operate at high frequencies with superior performance and functionality. CONTACT: California Micro Devices Jeffrey Kalb, 408/934-3106 (President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. ) John Trewin, 408/934-3103 (VP/CFO) www.calmicro.com |
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