O2Micro International Limited Revises First Quarter 2014 Financial Guidance
GEORGE TOWN, Grand Cayman, March 24, 2014 (GLOBE NEWSWIRE) -- O2Micro(R) International Limited (OIIM), a global leader in the design, development and marketing of high-performance integrated circuits and solutions, today revised its guidance for the first quarter of 2014. The company now expects its first quarter revenue to be in the range of $15.5 million to $16.5 million, versus previous guidance of $17.8 million to $19.1 million. In addition, gross margin for the first quarter is now expected to be approximately 49% to 51%.
The reduction in anticipated revenue for the first quarter is primarily the result of weakness in TV and notebook markets, as well as delays in mass production of several major general lighting programs. We do expect the delayed general lighting programs to ramp in the second quarter of 2014 and remain very optimistic regarding the rapid growth of our general lighting and other power management businesses.
Sterling Du, Chairman and CEO of O2Micro commented, "We are disappointed by the soft demand in our business in the first quarter. This is a result of weaker than anticipated seasonal demand in our backlighting and power management business units and production delays in certain applications of LED general lighting products. Despite weaker than anticipated first quarter revenue, we still expect to grow overall revenue year-over-year from 2013 levels."
No conference call will be held in conjunction with this financial guidance update. Additional information will be available when the Company reports its first quarter results prior to market open on April 30, 2014.
Founded in April 1995, O2Micro develops and markets innovative power management components for the Computer, Consumer, Industrial, Automotive and Communications markets. Products include LED General Lighting, Backlighting, Battery Management and Power Management.
O2Micro International maintains an extensive portfolio of intellectual property with 25,682 patent claims granted, and over 26,000 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, and combinations thereof are registered trademarks of O2Micro. All other trademarks or registered trademarks are the property of their respective owners.
Statements made in this release that are not historical, including statements regarding O2Micro's or management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 developments 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.