Lexar Provides Guidance for Q1 2006
March 28 2006 - 6:30AM
Business Wire
Lexar Media, Inc. (Nasdaq:LEXR), a leading manufacturer and
marketer of high-performance digital media and accessories, today
announced that it expects to report revenue in the range of $100
million to $130 million, and a net loss in the range of $22 million
to $30 million, for the quarter ending March 31, 2006. Lexar
currently anticipates reporting its actual results for the quarter
on April 27, 2006. In light of the Company's pending merger with
Micron, the Company does not intend to host an earnings conference
call when it releases its actual first quarter results. About Lexar
Media, Inc. Lexar is a leading marketer and manufacturer of NAND
flash memory products including memory cards, USB flash drives,
card readers and ATA controller technology for the digital
photography, consumer electronics, industrial and communications
markets. The Company holds over 96 issued or allowed controller and
system patents, and licenses its technology to companies including
Olympus Corporation, Samsung Electronics Co., Ltd., SanDisk
Corporation and Sony Corporation. Lexar sells its memory cards
worldwide and through an exclusive agreement, also sells memory
cards under the Kodak(R) brand. Headquartered in Fremont,
California, Lexar has operations in countries around the world.
More information is available at www.lexar.com. Cautionary Note
Regarding Forward-Looking Statements This news release contains
forward-looking information within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and is subject to the safe harbor created by
those sections. These forward-looking statements include statements
related to projections about our anticipated financial results for
the first quarter of fiscal. These forward-looking statements
involve a number of risks and uncertainties that could cause actual
results to differ materially from those anticipated by these
forward-looking statements. These risks include: competitive
pricing pressures, our operating results and gross margins are
difficult to predict and may fluctuate significantly; our customers
or suppliers may not react positively to Micron's proposed
acquisition of us; the cost of flash memory is a significant part
of our products' cost structure, and if we are unable to obtain
sufficient quantities of flash memory in a timely manner and at
competitive prices, we may not be able to manufacture and deliver
products to satisfy our customers' requirements, compete
effectively in the market or maintain our targeted gross margins or
market share; future average selling prices may continue to erode
due to excess industry capacity and extreme price competition which
may impact our margins and our ability to maintain our position at
our retail accounts; many of our retail customers and distributors
have price protection which could require us to make large payments
if we reduce prices; if we are unable to manage our inventory
levels, our operating results will be negatively impacted; if we
are unable to anticipate demand and pricing of our products or
effectively manage distributor channels and relationships and
changes in market conditions, our operating results will be harmed;
our licensing revenues may fluctuate significantly as the payments
from our recent agreement with Samsung will be made over a short
period of time and we may be unable to secure new license or
royalty revenue; increased competition in the digital media market
may lead to a decrease in our revenues and market share; if we are
unable to achieve or maintain our technology leadership position or
to obtain rights to develop and manufacture new form factors on
acceptable terms, our gross margins and revenues would likely
decline significantly; and we are involved in litigation, and may
become involved in additional litigation, the outlook of which is
highly uncertain, that could divert management's time and
attention, be time-consuming and expensive to defend and limit our
access to important technology. Readers should also refer to the
risk factors described in our filings with the Securities and
Exchange Commission, including our Annual Report on Form 10-K for
our fiscal year ended December 31, 2005, filed with the Securities
and Exchange Commission on March 16, 2006. We assume no obligation
to update the forward-looking information contained in this news
release. Lexar and the Lexar logo are trademarks of Lexar Media,
Inc. All other brand or product names are trademarks or registered
trademarks of their respective holders.
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