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ATMEL REPORTS RECORD QUARTER, YEAR

 SAN JOSE, Calif., Jan. 14 /PRNewswire/ -- Atmel Corp. (NASDAQ: ATML) today announced record fourth-quarter revenues of $40,946,000, an increase of 54 percent from $26,572,000 for the fourth quarter of 1991. Net income for the period surged fivefold to a record $4,720,000, or 25 cents per share, compared with $909,000, or 5 cents per share, in the 1991 like period.
 In the prior quarter, revenues were $36,987,000 with net income of $3,788,000, or 21 cents per share.
 Revenues for the fiscal year, Atmel's eighth, grew by more than 16 percent on a year-to-year comparison to a record $139,801,000 as net profits increased 35 percent to $13,934,000, or 77 cents per share.
 In 1991 revenues were $120,391,000 with net income of $10,332,000, or 61 cents per share.
 "We have entered a growth period that resulted from improved demand in the computer and telecommunications markets and an increased contribution of our enlarged catalog of products, especially Flash, serial interface EEPROMs and new low-voltage devices," said George Perlegos, Atmel president and chief executive officer.
 In 1992, the company doubled its capital spending to $14 million and significantly expanded the capacity of its wafer fabrication facilities in Colorado Springs, Colo.
 "During the year employment grew by 11 percent, and revenue per employee reached $146,800, an increase of 18 percent from 1991," Perlegos said. "We completed the reorganization of our Colorado Springs facilities and enlarged both our worldwide field sales and field applications organizations," Perlegos added.
 Headquartered in San Jose, Calif., with additional manufacturing facilities in Colorado Springs, Colo., Atmel designs, develops, manufactures and markets on a worldwide basis a broad line of complex integrated circuits.
 Atmel shares are listed on the National Market System of NASDAQ under the symbol of ATML.
 ATMEL CORP.
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (In thousands)
 Three Months Ended Year Ended
 (Unaudited)
 Dec. 31, Sept. 30, Dec. 31, Dec. 31, Dec. 31,
 1992 1992 1991 1992 1991
 Net revenues $40,946 $36,987 $26,572 $139,801 $120,391
 Expenses:
 Cost of sales 23,524 21,340 17,399 80,409 70,962
 Research and
 development 5,383 4,779 3,198 18,290 15,070
 Selling,
 general and
 administrative 5,442 5,693 4,725 21,920 18,937
 Total expenses 34,349 31,812 25,322 120,619 104,969
 Operating income 6,597 5,175 1,250 19,182 15,422
 Interest income
 (expense), net 146 197 58 724 (556)
 Income before
 taxes 6,743 5,372 1,308 19,906 14,866
 Taxes on income 2,023 1,584 399 5,972 4,534
 Net income $ 4,720 $ 3,788 $ 909 $ 13,934 $ 10,332
 Earnings per
 share $ 0.25 $ 0.21 $ 0.05 $ 0.77 $ 0.61
 Common shares
 and
 equivalents 18,785 18,175 18,176 18,265 17,050
 ATMEL CORP.
 CONDENSED CONSOLIDATED BALANCE SHEETS
 (In thousands)
 At Dec. 31, 1992 At Dec. 31, 1991
 Current Assets:
 Cash and short-term
 investments $ 24,886 $ 45,331
 Accounts receivable 30,430 21,462
 Inventories 41,401 38,308
 Prepaid taxes and other
 current assets 2,901 4,845
 Total current assets 99,618 109,946
 Other assets 3,631 1,312
 Long-term investments 51,314 25,730
 Fixed assets, net 28,887 22,545
 Total assets $183,450 $159,533
 Current Liabilities:
 Current portion, long-term debt $ 8,794 $ 5,453
 Trade accounts payable and
 other accrued liabilities 16,740 16,984
 Income taxes payable 179 0
 Deferred income on shipments
 to distributors 2,229 1,153
 Total current liabilities 27,942 23,590
 Long-term debt 23,047 21,173
 Deferred income taxes 471 5
 Total liabilities 51,460 44,768
 Shareholders' Equity:
 Common stock 86,542 83,251
 Retained earnings 45,448 31,514
 Total shareholders' equity 131,990 114,765
 Total liabilities and
 shareholders' equity $183,450 $159,533
 -0- 1/14/93
 /CONTACT: Kris Chellam, chief financial officer, of Atmel Corp., 408-436-4360/
 (ATML)


CO: Atmel Corp. ST: California IN: CPR SU: ERN

SW -- NYON1 -- 4668 01/14/93 06:31 EST
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Date:Jan 14, 1993
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