MILPITAS, Calif., July 24, 2014 /PRNewswire/ -- Integrated
Silicon Solution, Inc. (Nasdaq: ISSI) today announced that its
Board of Directors has approved a dividend program pursuant to
which ISSI intends to pay quarterly cash dividends on its common
stock.
The Board of Directors has declared an initial dividend of
$0.06 per share, payable on
August 15, 2014, to stockholders of
record at the close of business on August 4,
2014. Future dividends are subject to further Board
approval.
"Our Board's decision to approve a quarterly dividend program
reflects their confidence in our financial performance and growth
outlook," said Scott Howarth, ISSI's
President and CEO. "Our consistent track record of profitability
and cash generation over the past several years has contributed to
a well-capitalized balance sheet. We are pleased to be able to
offer this dividend program to our stockholders as a way to return
capital to them while maintaining sufficient cash reserves to fund
our growth plans."
About the Company
ISSI is a fabless semiconductor
company that designs and markets high performance integrated
circuits for the following key markets: (i) automotive, (ii)
communications, (iii) industrial, medical, and military, and (iv)
digital consumer. The Company's primary products are low, medium
and high density DRAM and high speed and low power SRAM. The
Company also designs and markets NOR flash products and high
performance analog and mixed signal integrated circuits. ISSI is
headquartered in Silicon Valley with worldwide offices in
Taiwan, Japan, Singapore, China, Europe, Hong
Kong, India, and Korea.
Visit our web site at http://www.issi.com/.
Forward Looking Statements
This news release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Statements concerning
ISSI's intent to pay quarterly cash dividends on its common stock,
confidence in our financial performance and growth outlook and
maintaining sufficient cash reserves to fund our growth plans are
forward-looking statement that involves risks and uncertainties
that could cause actual results to differ materially from those
anticipated. Such risks and uncertainties include actual cash flows
generated from and used in the operation of our business; actual or
projected levels of capital expenditures; our balance of cash and
investments and whether such cash and investments are in the U.S.
or foreign accounts; the tax impact of distributing accumulated
earnings and profits held by our foreign subsidiaries to the U.S.;
changes in the tax rates that our stockholders pay on our
dividends; supply and demand conditions in the market place
(especially in the automotive market and the IMM market),
unexpected reductions in average selling prices for our products,
our ability to sell our products in our key markets (including
automotive and IMM) and the pricing and gross margins achieved on
such sales, our ability to continue to control or reduce operating
expenses, our ability to obtain a sufficient supply of wafers,
wafer pricing, our ability to maintain sufficient inventory of
products to satisfy customer orders, our ability to realize the
expected benefits of our acquisitions including maintaining
relationships with key customers, vendors and employees, changes in
manufacturing yields, order cancellations, order rescheduling,
product warranty claims, competition, the level and value of
inventory held by OEM customers or other risks listed from time to
time in the Company's filings with the Securities and Exchange
Commission, including the Company's Form 10-K for the year ended
September 30, 2013 and Form 10-Q for
the period ended March 31,
2014. The Company assumes no obligation to update or revise
the forward-looking statement in this release because of new
information, future events, or otherwise.
SOURCE ISSI