California Micro Devices Form 10-K Posts Slightly Better Financial Results Than Previously Reported for March Quarter and Fiscal
June 12 2007 - 6:55PM
PR Newswire (US)
MILPITAS, Calif., June 12 /PRNewswire-FirstCall/ -- California
Micro Devices (NASDAQ:CAMD) today released its Form 10-K, posting
slightly better financial results than previously reported for the
fourth quarter and entire year of fiscal 2007, which ended March
31, 2007. A higher than anticipated rebate during the fourth
quarter from one of the company's packaging subcontractors
increased net income by about $180,000 on both a GAAP and non-GAAP
basis for the fourth quarter, resulting in diluted EPS rounding to
breakeven compared to the previously reported GAAP net loss of
$0.01 per share. On a non-GAAP basis, diluted EPS of $.03 per share
was up from the previously reported diluted EPS of $.02 per share.
The company also revised gross margin upward by approximately
$215,000. March quarter revenue remained unchanged at $15.5 million
compared to $17.4 million a year ago. The improved March quarter
results were reflected in the totals that the 10-K posted for
fiscal 2007. On a GAAP basis, diluted EPS for the year ended March
31, 2007, rounded to breakeven from the previously reported loss of
$0.01 per share, as compared to diluted EPS of $0.44 per share a
year ago. On a non-GAAP basis, diluted EPS of $0.25 per share for
fiscal 2007 was up from the previously reported diluted EPS of
$0.24 per share, excluding Arques Technology acquisition costs and
employee stock-based compensation expenses, and using a cash basis
tax rate, as compared to non-GAAP diluted EPS of $0.32 per share a
year ago. Total fiscal year 2007 revenue remained unchanged at
$68.0 million compared to the record $70.2 million posted a year
ago. The company's Form 10-K may be accessed at http://www.cmd.com/
(Investor Relations Link). About California Micro Devices
Corporation California Micro Devices Corporation is a leading
supplier of application specific analog and mixed signal
semiconductor products for the mobile handset, digital consumer
electronics and personal computer markets. Key products include
protection devices for mobile handsets, digital consumer
electronics products such as digital TVs and personal computers as
well as analog and mixed signal ICs for mobile handset displays.
Detailed corporate and product information may be accessed at
http://www.cmd.com/. DATASOURCE: California Micro Devices
Corporation CONTACT: Kevin Berry, Chief Financial Officer of
California Micro Devices Corporation, +1-408-934-3144, Web site:
http://www.cmd.com/
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