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ATMEL REPORTS RECORD RESULTS

 SAN JOSE, Calif., Oct. 7 /PRNewswire/ -- Atmel Corp. (NASDAQ: ATML) today reported third quarter revenues of $59,016,000, a 60-percent increase from last year's like period, as earnings more than doubled over the same period to $8,293,000 or 40 cents per share.
 In last year's third quarter, the company's revenues were $36,987,000, and net income was $3,788,000, or 21 cents per share. The current quarter's revenues grew by more than 16 percent from the prior quarter's revenues of $50,662,000 and earnings of $6,256,000 or 32 cents per share grew 33 percent and 25 percent, respectively.
 Atmel's revenues for the first nine months of 1993 were $153,593,000 with net income of $19,652,000 or 99 cents per share, compared with revenues of $98,855,000 and net income of $9,214,000 or 52 cents per share in the 1992 like period.
 Commenting on the results, George Perlegos, Atmel's president and chief executive officer, said, "We are continuing to see the benefits of our proprietary products, both in our new and mature families, evidenced by the strong demand for these products by our customers. With our book- to-bill ratio averaging 1.30 to 1 in the third quarter, our challenge has been to balance our constrained manufacturing capacity between achieving our financial goals and meeting our customers' needs.
 "We announced plans for the expansion of our wafer fabrication capacity in Colorado Springs at an estimated cost of $200 million that will give the company the ability to manufacture sufficient product to achieve more than $750 million in sales over the next several years. In July, we raised approximately $48 million through the sale of two million shares in an offering to finance the expansion," Perlegos added.
 Headquartered in San Jose, with additional manufacturing facilities in Colorado Springs, Colo., Atmel is a broad-line supplier in-system programmable and other complex integrated circuits.
 Atmel's shares are listed on the National Market System of NASDAQ under the symbol ATML.
 ATMEL CORP.
 Consolidated Statements of Operations (Unaudited)
 (In thousands, except per share amounts)
 Three Months Ended Nine Months Ended
 Sept. 30, June 30, Sept. 30, Sept. 30, Sept. 30
 1993 1993 1992 1993 1992
 Net Revenues: $59,016 $50,662 $36,987 $153,593 $98,855
 Expenses:
 Cost of sales 31,845 28,355 21,340 85,154 56,885
 Research and
 development 6,325 5,665 4,779 17,420 12,908
 Selling, general
 and
 administrative 8,680 7,484 5,693 22,188 16,478
 Total expenses 46,850 41,504 31,812 124,762 86,271
 Operating income 12,166 9,158 5,175 28,831 12,584
 Interest income 211 179 197 500 578
 Income before
 taxes 12,377 9,337 5,372 29,331 13,162
 Taxes on income 4,084 3,081 1,584 9,679 3,948
 Net income $ 8,293 $ 6,256 $ 3,788 $ 19,652 $ 9,214
 Earnings per
 share $ 0.40 $ 0.32 $ 0.21 $ 0.99 $ 0.52
 Common shares and
 equivalents 20,636 19,332 18,175 19,681 18,113
 Condensed Consolidated Balance Sheets (In thousands)
 At Sept. 30, 1993 At Dec. 31, 1992
 (Unaudited)
 Current assets:
 Cash and short-term investments $ 71,406 $ 24,886
 Accounts receivable 31,989 30,430
 Inventories 36,000 41,401
 Prepaid taxes and other current
 assets 3,769 2,901
 Total current assets 143,164 99,618
 Other assets 4,056 3,631
 Long-term investments 57,431 51,314
 Fixed assets, net 65,961 28,887
 Total assets $270,612 $183,450
 Current liabilities:
 Current portion, long-term debt 13,260 8,794
 Trade accounts payable and other
 accrued liabilities 27,386 16,740
 Income taxes payable 2,224 179
 Deferred income on shipments to
 distributors 6,915 2,229
 Total current liabilities 49,785 27,942
 Long-term debt 16,033 23,047
 Deferred income taxes 471 471
 Total liabilities 66,289 51,460
 Shareholders' equity:
 Common stock 139,223 86,542
 Retained earnings 65,100 45,448
 Total shareholders' equity 204,323 131,990
 Total liabilities and
 shareholders' equity $270,612 $183,450
 -0- 10/7/93
 /CONTACT: Kris Chellam, chief financial officer of Atmel, 408-436-4360; or Ken Dennard of Morgen-Walke, 415-296-7383, for Atmel/


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

TM-PK -- SF005 -- 9572 10/07/93 06:31 EDT
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Date:Oct 7, 1993
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