California Micro Devices Expects Lower First Quarter Sales.MILPITAS, Calif.--(BUSINESS WIRE)--June 21, 1996--California Micro Devices Corp. (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 )(CMD CMD cerebromacular degeneration. ), headquartered here, today announced that it expects that revenue for its first fiscal quarter, ending June 30, 1996, will be lower than the $11 million reported for the quarter ended March 31, 1996. As previously announced, there has been a significant softening in the marketplace, as systems manufacturers adjust inventory levels. This trend has continued through the quarter, confirming the company's earlier cautionary statements, as customers' orders have been rescheduled to future quarters. Along with the decline in revenues from recent levels CMD has also seen an erosion in margins due to lower operating levels and shift in product mix. The company expects to announce first quarter results in late July. Forward looking statements involve a number of risks and uncertainties including, but not limited to, product demand, pricing, market acceptance, 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 Securities and Exchange Commission filings. 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. California Micro Devices is a designer, manufacturer and marketer of integrated passive and active electronic components. CMD's silicon-based, thin film products are smaller, faster and integrate well into the major electronic industry trends toward smaller, portable equipment, higher frequencies and greater functionality. CONTACT: California Micro Devices, Milpitas 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 (Vice President & CFO See Chief Financial Officer. ) Roberta Silverstein, 408/934-3141 (Press & Media) |
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