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ATMEL REPORTS RECORD RESULTS

 SAN JOSE, Calif., April 8 /PRNewswire/ -- Atmel Corp. (NASDAQ-NMS: ATML) today reported record first quarter revenues of $43,915,000, a 52-percent increase from last year's like period, as earnings more than doubled to $5,103,000 or 27 cents per share.
 In last year's first quarter, the company's revenues were $28,836,000 with earnings of $2,459,000 or l4 cents per share. The current quarter's revenues and earnings grew by more than 7 percent from the prior quarter's revenues of $40,946,000 and earnings of $4,720,000 or 25 cents per share.
 "Order activity, led by our new products, continued strong in the quarter with a book-to-bill ratio exceeding 1.3 to 1," explained George Perlegos, Atmel's president and chief executive officer. "With this business strength across all of our product lines, we are continuing our manufacturing expansion programs, and in the quarter we invested approximately $10 million in capital additions," he added.
 "In the period, the company shipped sample units of its EEPROM-based microcontroller, the AT89C51. This 8-bit device, which contains 4,000 bytes of Atmel Flash memory for programming, will be used for embedded controller functions in the consumer, automotive, industrial and instrumentation markets," said Perlegos. (In-Stat, the Arizona- based marketing research firm, has estimated the worldwide market for 8-bit microcontrollers at $3.6 billion in the current year and growing to over $5 billion by 1996.)
 During the first quarter, the company also shipped first units of its 4-megabit Flash, the world's highest capacity single-voltage Flash memory. This 5-volt-only circuit, to be followed by its companion 3-volt device, is targeted at computer peripherals and telecommunications applications.
 Headquartered in San Jose, 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, except per share amounts)
 Three Months Ended
 (Unaudited)
 Mar. 31, Dec. 31, Mar. 31,
 1993 1992 1992
 Net Revenues: $43,915 $40,946 $28,836
 Expenses:
 Cost of sales 24,955 23,524 16,548
 Research and development 5,430 5,383 4,018
 Selling, general and
 administrative 6,023 5,442 4,922
 Total expenses 36,408 34,349 25,488
 Operating income 7,507 6,597 3,348
 Interest income
 (expense), net 110 146 189
 Income before taxes 7,617 6,743 3,537
 Taxes on income 2,514 2,023 1,078
 Net income $5,103 $4,720 $2,459
 Earnings per share $0.27 $0.25 $0.l4
 Common shares and
 equivalents 19,075 18,785 18,170
 Condensed Consolidated Balance Sheets
 (In thousands)
 At Mar. 31, At Dec. 31, 1992
 1993 1992
 (Unaudited)
 Current assets:
 Cash and short-term investments $27,717 $24,886
 Accounts receivable 35,133 30,430
 Inventories 39,996 41,401
 Prepaid taxes and other
 current assets 2,867 2,901
 Total current assets 105,713 99,618
 Other assets 5,168 3,631
 Long-term investments 49,512 51,314
 Fixed assets, net 37,072 28,887
 Total assets $197,465 $183,450
 Current liabilities:
 Current portion, long-term debt 8,614 8,794
 Trade accounts payable and
 other accrued liabilities 22,895 16,740
 Income taxes payable 2,191 179
 Deferred income on shipments
 to distributors 3,160 2,229
 Total current liabilities 36,860 27,942
 Long-term debt 20,934 23,047
 Deferred income taxes 471 471
 Total liabilities 58,265 51,460
 Shareholders' equity:
 Common stock 88,649 86,542
 Retained earnings 50,551 45,448
 Total shareholders' equity 139,200 131,990
 Total liabilities and
 shareholders' equity $197,465 $183,450
 -0- 4/8/93
 /CONTACT: Kris Chellam, chief financial officer of Atmel, 408-436-4360, or Ken Dennard of Morgen-Walke, 415-296-7383, for Atmel/
 (ATML)


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

MM-BR -- SF005 -- 4015 04/08/93 06:32 EDT
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Date:Apr 8, 1993
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