Mindspeed’s Bret W. Johnsen Receives Orange County Business Journal's CFO of the Year Award
January 19 2011 - 3:19PM
Business Wire
Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading
supplier of semiconductor solutions for network infrastructure
applications, today announced that Bret W. Johnsen, the company’s
senior vice president and chief financial officer, has received the
Orange County Business Journal 2010 CFO of the Year Award in the
Outstanding CFO of a Public Company category. Johnsen played an
integral role in Mindspeed’s achievement of key financial and
operational advances during the past year, driving substantial
growth in stockholder value.
The award was announced at the Orange County Business Journal's
4th Annual CFO of the Year Awards Ceremony, which was held last
night at the Hyatt Regency hotel in Irvine, Calif. One of 40
candidates that were nominated for an award, Johnsen was selected
as the County’s most outstanding chief financial officer of a
public company by a panel, which included professionals from the
Orange County Business Journal and The California Society of
Certified Public Accountants (CalCPA).
“Since joining Mindspeed in 2008, Bret has played a pivotal role
in driving Mindspeed’s financial execution and increasing
stockholder value,” said Raouf Y. Halim, Mindspeed’s chief
executive officer. “In particular, Bret’s contributions are
reflected in our improved balance sheet, our top line revenue
growth and the significant earnings growth and expansion of
stockholder value that Mindspeed experienced in fiscal year 2010.
We are delighted that he has been recognized with this prestigious
award.”
Johnsen joined Mindspeed in July 2008 and has nearly 20 years of
experience in corporate accounting and financial management. He
came to Mindspeed from Broadcom Corporation, where he was vice
president and corporate controller.
“I am thrilled to be accepting this award from a panel of my
peers in the Orange County finance community,” Johnsen said. “I am
proud of the work we are doing at Mindspeed and honored to have
been recognized for our accomplishments.”
About Mindspeed Technologies
Mindspeed designs, develops and sells semiconductor solutions
for communications applications in the wireline and wireless
network infrastructure, which includes enterprise networks,
broadband access networks (fixed and mobile), and metropolitan and
wide area networks. We have organized our solutions for these
interrelated and rapidly converging networks into three families.
Our communications convergence processing (CCP) products include
ultra-low-power, multi-core digital signal processor (DSP)
system-on-chip (SoC) products for the fixed and mobile (3G/4G/LTE)
carrier infrastructure and residential and enterprise service
platforms. Our high-performance analog (HPA) products solve
difficult switching, timing and synchronization challenges in
next-generation optical networking, enterprise storage and
broadcast video transmission applications. Our wide area networking
(WAN) communications portfolio helps optimize today's
circuit-switched networks. Mindspeed's products are sold to
original equipment manufacturers (OEMs) for use in a variety of
network infrastructure equipment which serves these markets. To
learn more, please visit www.mindspeed.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such statements include statements regarding the company's
expectations, goals or intentions, including, but not limited to,
continued growth in stockholder value, cost in organizational
efficiencies, increases in operating margins and balance sheet and
liquidity position strength. These forward-looking statements are
based on management's current expectations, estimates, forecasts
and projections about the company and are subject to risks and
uncertainties that could cause actual results and events to differ
materially from those stated in the forward-looking statements.
These risks and uncertainties include, but are not limited to:
fluctuations in our operating results and future operating losses;
worldwide political and economic uncertainties and specific
conditions in the markets we address; constraints in the supply of
wafers and other product components from our third-party
manufacturers; fluctuations in the price of our common stock; cash
requirements and terms and availability of financing; loss of or
diminished demand from one or more key customers or distributors;
our ability to attract and retain qualified personnel; doing
business internationally and our ability to successfully and cost
effectively establish and manage operations in foreign
jurisdictions; pricing pressures and other competitive factors;
successful development and introduction of new products; lengthy
sales cycles; order and shipment uncertainty; our ability to obtain
design wins and develop revenues from them; the expense of and our
ability to defend our intellectual property against infringement
claims by others; product defects and bugs; business acquisitions
and investments; and our ability to utilize our net operating loss
carryforwards and certain other tax attributes. Risks and
uncertainties that could cause the company's actual results to
differ from those set forth in any forward-looking statement are
discussed in more detail under "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" in the company's Annual Report on Form 10-K for the
year ended October 1, 2010, as well as similar disclosures in the
company's subsequent SEC filings. Forward-looking statements
contained in this press release are made only as of the date
hereof, and the company undertakes no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise.
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