MILPITAS, Calif., Oct. 7, 2014 /PRNewswire/ -- Integrated
Silicon Solution, Inc. (Nasdaq: ISSI) today provided preliminary
financial results for its fourth fiscal quarter ended September 30, 2014. Revenue is expected to be
approximately $84 million, compared
to guidance of $85 million to $89
million provided on July 24,
2014. GAAP net income per share is expected to be in the
range of $0.10 to $0.14 per fully
diluted share, compared to previous guidance of $0.15 to $0.19 per share. Non-GAAP net income per
share is expected to be in the range of $0.19 to $0.23 per fully diluted share, compared
to previous guidance of $0.25 to
$0.29 per share.
"Revenue in our fiscal fourth quarter ended September 30 will be below our original
expectations due to weakness in the communications and consumer
markets in Asia, and wafer
shortages from one of our flash foundries. Sales in our industrial
and automotive end markets continued to perform well during the
quarter," said Scott Howarth, ISSI's
President and CEO.
Fourth Fiscal Quarter and Full Year Results Call:
ISSI will host its earnings conference call on Wednesday, October 29, 2014, at 7:00 a.m. Pacific Time (10:00 a.m. Eastern Time) to discuss the Company's
financial results for the fiscal 2014 fourth quarter and full year
ended September 30, 2014.
To access ISSI's conference call via telephone, dial
1-800-768-6563 before 6:50 a.m. Pacific
time on October 29, 2014. The
participant pass code is 5123006. A telephone replay will be
available for 30 days after the event by dialing 1-888-203-1112.
The replay pass code is also 5123006. Additionally, the call will
be available as a live and archived webcast from ISSI's website at
http://www.issi.com.
Non-GAAP Financial Information
Our non-GAAP net income
excludes the impact of stock based compensation, the amortization
of intangibles related to acquisitions, gains on sales of
investments, and non-cash tax expense. Due to the preliminary
nature of our results, we are not able to provide a reconciliation
of our non-GAAP results to the results under GAAP at this time but
will include such a reconciliation in our earnings release on
October 29, 2014.
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 our
expected revenue and GAAP and Non-GAAP net income per share for the
September quarter are forward-looking statements that involve risks
and uncertainties that could cause actual results to differ
materially from those anticipated. Such risks and uncertainties
include 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, currency exchange
fluctuations, 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 June 30, 2014. In addition, the
financial information in this press release is preliminary and
unaudited and subject to any adjustments that may be made in
connection with the year-end audit. The Company assumes no
obligation to update or revise the forward-looking statements in
this release because of new information, future events, or
otherwise.
SOURCE Integrated Silicon Solution, Inc.