Elantec Semiconductor Revises Second Quarter Fiscal 2001 Outlook.Business Editors MILPITAS, Calif.--(BUSINESS WIRE)--Feb. 28, 2001 Elantec Semiconductor, Inc., (Nasdaq:ELNT), a leader in high performance analog integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. , today announced that sales for the second quarter of fiscal 2001 will be below previous expectations as a result of continued economic slowdown and weakening demand, particularly in the PC industry. The Company expects its second quarter revenue to be down approximately 20 to 25 percent compared to its first fiscal quarter ended December 31, 2000. Market conditions have not improved during the quarter for the Company's products, particularly those tied to PC market demand. Customers in this market segment continue to cancel or reschedule re·sched·ule tr.v. re·sched·uled, re·sched·ul·ing, re·sched·ules To schedule again or anew: rescheduled the meeting for the following week; rescheduled the debts of many developing nations. backlog, causing limited visibility for the Company. So far this quarter, demand for the Company's DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary communications products remain strong, but will not be able to offset the decline in its other market segments. As a result of the revenue decline and lower factory loadings, the Company anticipates gross margins will be between 55 and 56 percent in the second quarter. The Company has already initiated a series of cost-reduction actions to partially offset the effects of the reduced revenues. Earnings per share for the quarter should be in the range of $0.20 to $0.22. "Despite the softening demand caused by a market slowdown, Elantec remains well positioned in the four markets we focus on," commented Rich Beyer, President and 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. . "We believe we will resume strong sales and earnings growth when the economy and our target markets rebound." Web Broadcast and Instant Replay Elantec will broadcast a conference call today at 6:00 a.m. PST PST Paroxysmal supraventricular tachycardia, see there . This event is available through the Company's website located at http://www.elantec.com. For those unable to attend the live broadcast, a 5-day broadcast replay will be available shortly after the event. Elantec is also making available a 5-day telephone replay of the conference call which can be accessed by dialing 1-800-405-2236 and entering pass code number 832476. 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. Statement Certain matters discussed in this press release, such as future financial performance and market conditions, are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. These risks and uncertainties include the timing of or delays in new product and process technology introductions by the Company or its competitors, competitive pricing pressures, fluctuations in manufacturing yield, changes in the mix or markets in which products are sold, availability and cost of raw materials, business and economic conditions in various geographic regions, change in customer order patterns, 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. involving intellectual property and other issues, and other risk factors discussed from time to time in the Company's reports filed with the Securities and Exchange Commission, including but not limited to the Company's most recent Forms 10-Q and 10-K. The Company's actual future results could differ materially from those discussed here. About Elantec Semiconductor Elantec designs, manufactures and markets high performance analog integrated circuits primarily for the video, optical storage, communication, and power management markets. The Company targets high growth commercial markets in which advances in digital integrated circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for technology are driving increasing demand for high speed, high performance and low power consumption analog circuits analog circuit, electronic circuit that operates with currents and voltages that vary continuously with time and have no abrupt transitions between levels. Generally speaking, analog circuits are contrasted with digital circuits, which function as though currents or . |
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