CAMD California Micro Devices Corp. (MM)

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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