02MICRO INTERNATIONAL LIMITED ANNOUNCES PRELIMINARY FOURTH QUARTER DATA
|O2Micro Announces Preliminary Guidance for the Fourth Quarter|
Thursday December 18, 8:00 am ET
GEORGE TOWN, Grand Cayman--(BUSINESS WIRE)--O2Micro® International Limited (NASDAQ :OIIM) (SEHK:0457 - News), a leading supplier of innovative power management, and security components, is announcing preliminary data for its fourth quarter of fiscal 2008.
The company expects fourth quarter revenue to be approximately $21-22 million. This represents a decline of 42% to 46% from the third quarter of fiscal 2008. The company believes that inventory adjustments in the supply chain are contributing to the lower sequential revenue performance. The gross margin is also expected to be at the low-end of the company’s target range of 55% to 60% in the fourth quarter due to the fixed cost component.
Sterling Du, Chairman and CEO, commented, “Our semiconductor chips go primarily into consumer electronics and our preliminary results reflect this exposure.” He continued, “During this period of rapid economic decline, we are managing our cost structure and reducing our inventory to generate positive cash flow from operations at depressed revenue levels in this period.”
O2Micro will report its complete quarterly results in February 2009.
Founded in April 1995, O2Micro develops and markets innovative power management and security components for the Computer, Consumer, Industrial, and Communications markets. Products include Intelligent Lighting, Battery Management, Power Management, and SmartCardBus® products.
O2Micro International maintains an extensive portfolio of intellectual property with 10,532 patent claims granted, and over 12,000 more pending. The company maintains offices worldwide. Additional company and product information can be found on the company website at www.o2micro.com.
O2Micro, the O2Micro logo, SmartCardBus, and combinations thereof are registered trademarks of O2Micro. All other trademarks are the property of their respective owners.
Certain statements in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. They include statements regarding O2Micro’s future growth, long term profitability, increases in shareholder value, expansion of O2Micro’s product and patent portfolios, legal expenditures, litigation activity and other statements regarding O2Micro’s or management’s intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. Factors that could cause actual results to differ materially include risks and uncertainties such as reduced demand for products of electronic equipment manufacturers which include O2Micro’s products due to adverse economic conditions in general or specifically affecting O2Micro’s markets, technical difficulties and delays in the development process, and errors in the products. You are also referred to the Form F-1 in connection with the company’s initial public offering in August 2000, Form F-3 in connection with the company’s public offering in November 2001, and the annual reports on Form 20-F, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The company assumes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Gary E. Abbott, 408-987-5920, x8888
Director of Investor Relations
Source: O2Micro International Limited