California Micro Devices to Present at Needham Growth Conference.

Business Editors/High-Tech Writers

MILPITAS, Calif.--(BUSINESS WIRE)--Jan. 7, 2003

California Micro Devices (Nasdaq:CAMD) announced today that it will present tomorrow at the Fifth Annual Needham & Company Growth Conference being held this week in New York City. The company's presentation will include estimates for its revenue and earnings in the December quarter which it now expects to be just below the low end of its previous guidance at approximately $11.2 million in revenue and a net loss per share of approximately $0.02. The change from its previous guidance for its fiscal Q3-2003 quarter, which ended on December 31, 2002, is primarily due to softer than expected demand for products for the Lighting market as well as operational issues associated with ramping production of Medical products and the transfer of certain manufacturing processes to the company's Tempe, Arizona fab from its Milpitas fab, which was shut down at the end of September. The company noted that it will not have final results for the quarter until later this month when it has received complete reports from all of its distributors and completed its normal financial review process.

California Micro Devices will release its actual fiscal Q3-2003 results on Thursday, January 23, 2002, after the close of trading. The company will hold a conference call on the same day at 2:00 p.m. Pacific Time to discuss its results.

About California Micro Devices Corporation

California Micro Devices Corporation is a leading supplier of application-specific analog semiconductor products for the mobile, computing, and high-brightness LED lighting markets. Key products include application-specific integrated passive (ASIP(TM)) devices and power management ICs as well as silicon submounts for high brightness LEDs. Detailed corporate and product information may be accessed at www.calmicro.com.

All statements contained in this press release that are not historical facts are forward-looking statements. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. They are not historical facts or guarantees of future performance or events. Rather, they are based on current expectations, estimates, beliefs, assumptions, and goals and objectives and are subject to uncertainties that are difficult to predict. As a result, our actual results may differ materially from the statements made. Often such statements can be identified by their use of words such as will, intends, expects, plans, believes, anticipates, expects, and estimates. Forward-looking statements made in this release include our expectations regarding revenue and net earnings per share for the third fiscal quarter of 2003. These forward-looking statements are based upon our assumptions about and assessment of the future, which may or may not prove true, and involve a number of risks and uncertainties including, but not limited to, the yet-to-be received reports of distributor sell-through being consistent with our expectations and there being no unanticipated expenses to be recognized as well as other risk factors detailed in the company's Form 8K, 10K, and 10Q filings with the Securities and Exchange Commission. Due to these and other risks, the Company's future actual results could differ materially from those discussed above. These forward-looking statements speak only as to the date of this release, and, except as required by law, we undertake no obligation to publicly release updates or revisions to these statements whether as a result of new information, future events, or otherwise.