CAMD California Micro Devices Corp. (MM)

MILPITAS, Calif., June 15 /PRNewswire-FirstCall/ -- California Micro Devices (NASDAQ:CAMD) today presented its financial outlook for the first quarter of fiscal 2007, which ends June 30, 2006. Lowering its previous guidance by $2.0 million, the company now expects revenue of between $15.0 and $16.0 million compared to $14.7 million a year ago. On a GAAP basis, including the Arques Technology product line and acquisition costs as well as stock compensation expenses and a statutory tax rate, the company expects a net loss of between $0.12 and $0.13. This compares to diluted EPS of $0.02 a year ago, which included restructuring charges of $57,000. On a pro forma basis, excluding the Arques Technology product line and acquisition costs as well as stock compensation expenses, and using a cash basis tax rate, diluted EPS is expected to be between $0.05 and $0.06. On a pro forma basis, including the Arques Technology product line but excluding acquisition costs and stock compensation expenses, and using a cash basis tax rate, diluted EPS is expected to be between $0.02 and $0.03. "With the exception of our packaged EMI filter ASIPs and low capacitance ESD devices, we have seen a broad based decline in demand for our products in the last month," said Robert V. Dickinson, president and CEO. "We believe this is due in part to softer market demand and in part to the competitive inroads by ceramic filters and packaged ASIPs at certain mobile handset customers. While we are disappointed by this quarter's outlook, we continue to be optimistic about our long term prospects." Dickinson expects mobile handset product revenue for the first fiscal quarter to be flat to up 10 percent year-on-year with 20-to-30 percent year-on-year growth in sales to top 5 OEMs largely offset by substantial year-on-year declines in sales to second tier and Chinese OEMs reflecting their collective loss of market share over the past year as well as competition from low end ceramic filters. He anticipates personal computer and digital consumer electronics product revenue to be up by 10-to-15 percent year-on-year with low capacitance ESD revenue growing by 60-to-70 percent year-on-year. He also noted that bookings for the quarter have been weak, reflecting the lower revenue expectations, while design wins have continued at a rate roughly comparable to last quarter's record levels. Conference Call and Webcast Today California Micro Devices will hold a conference call today at 2:00 p.m. Pacific Time to discuss its June quarter outlook. Within the USA, interested parties can access the conference call by dialing 800-218-4007. International parties may gain access by dialing 303-275-2170. 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 until June 30, 2006. The company will announce its actual June quarter financial results on July 20, 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 for certain markets and customers, and our expected GAAP and pro-forma earnings and loss per share for the first quarter of fiscal 2007; our belief as to the reasons for anticipated lower revenues from certain customers; and our optimism about our long term prospects. 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; there being no other root causes for the anticipated lower revenues from certain of our customers; the accounting for the Arques acquisition being as we anticipate; and our ability to generate long-term revenues at healthy gross margins from the Arques product line under development 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: Kevin Berry, Chief Financial Officer, of California Micro Devices Corporation, +1-408-934-3144, or Web site: http://www.calmicro.com/

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