California Micro Devices Presents March Quarter and Fiscal 2006 Outlook
March 16 2006 - 5:02PM
PR Newswire (US)
March Guidance Raised; All-Time Highs in Revenue and Earnings
Anticipated in Fiscal 2006 MILPITAS, Calif., March 16
/PRNewswire-FirstCall/ -- California Micro Devices (NASDAQ:CAMD)
today presented its financial outlook for the fourth quarter of
fiscal 2006, which ends March 31, 2006. Revenue is expected to be
between $16.5 and $17.5 Million compared to $19.6 Million in the
prior quarter and $14.5 Million in the same quarter a year ago. The
company expects diluted earnings per share of between $0.07 and
$0.08 compared to diluted earnings of $0.11 in the prior quarter
and a loss of $0.05 a year ago, which included restructuring
charges of $270,000. Based on the company's March quarter outlook,
fiscal 2006 revenue is expected to be between $69.3 and $70.3
Million, an all time high, compared to the record $65.9 Million in
fiscal 2005. Core revenue is expected to grow 28 to 30 percent year
on year. Diluted earnings per share for fiscal 2006 are forecast to
be between $0.29 and $0.30, also a record high, compared to $0.18
in fiscal 2005. The fiscal 2006 outlook includes restructuring
charges of $59,000 compared to approximately $1.3 Million in fiscal
2005. "In line with our prior Q4 guidance, revenue from mobile
handsets is expected to decline sequentially by about 20 percent,"
said Robert V. Dickinson, president and CEO. "In contrast, revenue
from personal computers and digital consumer electronics is
expected to grow sequentially by 10 percent driven by strong sales
of our low capacitance ESD protection ASIP solutions. Not only do
we expect our core revenue to be up substantially compared to Q4 of
last year, we anticipate that fiscal 2006 revenue, gross margin and
net income will all reach record levels. Overall, we are very
pleased with the outlook for fiscal 2006." He noted that March
quarter bookings and design win activity are currently running well
ahead of where they were at the same time last quarter. Commenting
on the company's agreement to acquire Arques Technology, announced
earlier today, Dickinson said, "Our acquisition of Arques
Technology represents a key milestone in the evolution of
California Micro Devices and will strengthen both our analog design
team and our LED driver product portfolio." He noted that the
agreement is expected to close early in the June quarter.
Conference Call and Webcast Today California Micro Devices will
hold a conference call today at 2:00 p.m. Pacific Time to discuss
its March quarter and fiscal 2006 outlook. Within the USA,
interested parties can access the conference call by dialing
800-218-0204. International parties may gain access by dialing
303-262-2130. No password is necessary. A replay of the conference
call will be available on the company's web site at
http://www.calmicro.com/ (Investor Relations Link) beginning at
approximately 4:00 p.m. Pacific Time today and continuing for 90
days. The company will announce its actual March quarter and fiscal
2006 financial results on May 4, 2006. About California Micro
Devices Corporation California Micro Devices Corporation is a
leading supplier of application specific analog semiconductor
products for the mobile handset, personal computer and digital
consumer electronics markets. Key products include Application
Specific Integrated Passive(TM) (ASIP(TM)) devices and selected
high value mixed signal ICs. Detailed corporate and product
information may be accessed at http://www.calmicro.com/. All
statements contained in this press release that are not historical
facts are forward-looking statements which are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. They are not guarantees of future performance or
events. Rather, they are based on current expectations, estimates,
beliefs, assumptions, and goals and objectives and are subject to
uncertainties that are difficult to predict. As a result, our
actual results may differ materially from the statements made.
Often such statements can be identified by their use of words such
as will, intends, expects, plans, believes, anticipates, and
estimates. Forward-looking statements made in this release include
our expected revenues, both overall and in certain markets, and our
earnings per share for the fourth quarter of fiscal 2006 and for
the entire fiscal 2006 year; our expected fiscal 2006 gross margin;
and that our acquisition of Arques Technology will close in early
April and strengthen our analog design team and LED driver
portfolio. These forward-looking statements are based upon our
assumptions about and assessment of the future, which may or may
not prove true, and involve a number of risks and uncertainties
including, but not limited to our distributor sell through,
drawdown of vendor managed inventory, and turns and other orders
being as anticipated during the final few weeks of the quarter;
there being no interruption in the supply of quality product from
our contract manufacturers, contract assemblers and test houses;
our acquisition of Arques not closing due to a failure of either
party to satisfy a closing condition or due to either party
breaching our agreement; key members of the Arques analog design
teams deciding not to join or to shortly thereafter quit our
employment; and the Arques product portfolio not being as robust as
we expect when readied for production; as well as the risk factors
detailed in the company's Form 8K, 10K, and 10Q filings with the
Securities and Exchange Commission. Due to these and other risks,
the company's future actual results could differ materially from
those discussed above. These forward-looking statements speak only
as to the date of this release, and, except as required by law, we
undertake no obligation to publicly release updates or revisions to
these statements whether as a result of new information, future
events, or otherwise. NOTE: ASIP(TM) and Application Specific
Integrated Passive(TM) are trademarks of California Micro Devices.
All other trademarks are property of their respective owners
DATASOURCE: California Micro Devices Corporation CONTACT: Robert
Dickinson of California Micro Devices Corporation, +1-408-934-3144,
or Web site: http://www.calmicro.com/
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