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EXAR ANNOUNCES THIRD QUARTER RESULTS -- REVENUES INCREASE 23 PERCENT, NET INCOME UP 55 PERCENT, EPS GAIN 8 PERCENT

EXAR ANNOUNCES THIRD QUARTER RESULTS -- REVENUES INCREASE 23 PERCENT,
 NET INCOME UP 55 PERCENT, EPS GAIN 8 PERCENT
 SAN JOSE, Calif., Jan. 22 /PRNewswire/ -- EXAR Corp. (NASDAQ: EXAR) today reported net income and revenue gains for the third quarter and first nine months of fiscal 1992 which ended Dec. 31, 1991. Net income of $2,678,000 ($0.40 per share) and $7,644,000 ($1.24 per share), respectively, compared with $1,731,000 ($0.37 per share) and $5,139,000 ($1.04 per share) for the comparable periods of the prior year.
 EXAR reported net sales for the third quarter of fiscal 1992 of $35,833,000, a 23 percent increase over the $29,194,000 recorded during the third quarter a year ago. Sales for the nine months of fiscal 1992 totaled $106,792,000, a 29 percent increase over the $82,863,000 reported in the comparable period of fiscal 1991. The company experienced increased sales in most product lines during the period, with significant increases in sales of integrated circuits for use in data communications, mass storage and consumer electronics products. The increase in sales of data communications products reflects shipments of Exar's dedicated fax/data modem chip set for use in personal computers. Mass storage product sales reflect increased shipments of products used in 3 1/2- and 2 1/2- inch form factor disk drives. The increase in sales of integrated circuits for use in consumer electronics products resulted from sales and marketing efforts in Japan through EXAR's wholly owned subsidiary, Exar Japan Corp. EXAR's consumer oriented standard products include specialty audio components sold to major Japanese electronic companies.
 "We are very pleased with the quarterly results," said Nob Hatta, president of Exar. "The quarter ending December is traditionally a tough quarter for Exar as we generally see a slow down in shipments in the winter months," continued Hatta.
 Exar also announced today the settlement of its patent infringement litigation with Silicon Systems Inc. which commenced in December 1990. The terms of the settlement will not have a material effect on Exar's operating results.
 EXAR Corp. designs, manufactures and markets analog and mixed- signal integrated circuits for use in telecommunications, data communications, mass storage and consumer electronics products. Exar's mixed signal circuits may incorporate features such as nonvolatile EEPROM memory and switched capacitor filters. In addition to its core business, Exar sells epitaxial and bipolar wafers to Rohm Co. Ltd., Exar's largest customer.
 EXAR CORP. AND SUBSIDIARIES
 Condensed Consolidated Statements of Income
 (Unaudited)
 (In thousands, except per share amounts)
 Three Months Ended Nine Months Ended
 Dec. 31, Dec. 31,
 1991 1990 1991 1990
 Sales $35,833 $29,194 $106,792 $82,863
 Costs and Expenses:
 Cost of sales 25,623 20,889 75,868 59,102
 Research and
 development 2,695 2,244 8,040 6,700
 Selling, general and
 administrative 4,383 4,079 13,506 11,518
 Income from Operations 3,132 1,982 9,378 5,543
 Other Income 1,052 906 2,654 2,373
 Income before income
 taxes 4,184 2,888 12,032 7,916
 Income taxes 1,506 1,157 4,388 2,777
 Net income $2,678 $1,731 $7,644 $5,139
 Net income per common
 and common equivalent
 share $.40 $.37 $1.24 $1.04
 EXAR CORP. AND SUBSIDIARIES
 Condensed Consolidated Balance Sheets
 (In thousands, except share amounts)
 Dec. 31, March 31,
 1991 1991
 (Unaudited)
 Assets
 Current Assets:
 Cash and marketable
 securities $71,688 $27,236
 Accounts receivable, net 29,569 21,915
 Inventories 14,108 17,333
 Other current assets 3,693 2,483
 Total Current Assets 119,058 68,967
 Property and equipment, net 31,022 36,707
 Total assets $150,080 $105,674
 Liabilities and Shareholders' Equity
 Current liabilities:
 Notes payable $9,139 --
 Accounts payable and accrued
 liabilities 35,862 25,451
 Income taxes payable 1,265 2,179
 Total Current Liabilities 46,266 27,630
 Deferred income taxes 3,171 3,171
 Redeemable preferred stock 13,120 21,075
 Shareholders' equity:
 Common stock -- 6,394,151
 and 4,801,353 shares
 issued and outstanding 69,154 43,028
 Retained earnings 18,369 10,770
 Total Shareholders' Equity 87,523 53,798
 Total Liabilities and
 Shareholders' Equity $150,080 $105,674
 -0- 1/22/92
 /CONTACT: Ronald W. Guire of EXAR, 408-434-6400/
 (EXAR) CO: EXAR ST: California IN: CPR SU: ERN


RM -- SJ008 -- 2090 01/22/92 09:04 EST
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