O2Micro to Evaluate Strategic Alternatives for Intelligent E-Commerce Group
GEORGE TOWN, Grand Cayman, Aug. 1, 2012 (GLOBE NEWSWIRE) -- O2Micro®International Limited (Nasdaq:OIIM), a global leader in the design, development and marketing of high-performance integrated circuits and solutions, today announced that it will be exploring various strategic alternatives for its Intelligent E-Commerce Group, including the exploration of the separation of its E-Commerce business into a separate company through a joint venture or some other related transaction.
O2Micro's Intelligent E-Commerce Group has a strong history of innovation and technological leadership. The Intelligent E-Commerce Group has a product and patent portfolio of flash memory host adapter ICs for notebook PCs, including but not limited to the following interfaces, SD2.0, SD3.0, compact flash, SmartMedia and other standards.
This strategy is in line with O2Micro's plan to fundamentally streamline its operations and focus on its core growth business, including its traditional Consumer and Computer Markets, as well as its fast growing General Lighting and Industrial markets. An important component of the plan is focusing its investments, resources and management attention to drive higher value from its core growth markets. O2Micro believes that the exploration of alternatives for the Intelligent E-Commerce Group will help the Company focus on its strategic goals and pursue profitable and long-term growth, resulting in enhanced shareholder value.
"The exploration of strategic alternatives for the Intelligent E-Commerce Group demonstrates our commitment to enhancing shareholder value and sharpening our strategic and financial focus," said Sterling Du, O2Micro's Chairman and CEO. "We believe the exploration of alternatives for the Intelligent E-Commerce Group would allow O2Micro to focus our developmental resources on faster growth drivers and better execute our focused strategy."
O2Micro management, together with its financial and legal advisors, will explore several strategic alternatives related to its Intelligent E-Commerce business, including a joint venture in conjunction with another business partner. O2Micro expects that the process could be completed by the end of the year, or possibly first quarter of 2013.
There can be no assurance that any transaction regarding O2Micro's Intelligent E-Commerce Group will be pursued or completed. The Company does not intend to disclose developments with respect to the progress of this review process until such time as the O2Micro board of directors approves or completes such a transaction, or otherwise determines that further disclosure is appropriate.
O2Micro will be discussing this announcement during its previously scheduled second quarter 2012 earnings conference call today, August 1, 2012, at 6:00 a.m. (PDT), 9:00 a.m. (EDT). You may participate using the following dial-in information.
|In the US and CANADA:||866-719-0110, pass code #8141652|
|INTERNATIONAL participants:||719-234-0008, pass code #8141652|
A replay of the call will be available by phone until August 8th using the following dial-in information.
|In the US and CANADA:||888-203-1112, pass code #8141652|
|INTERNATIONAL participants:||719-457-0820, pass code #8141652|
A live webcast will also be available on the Company's website at www.o2micro.com , and an online replay will be available on the website for one week.
Founded in April 1995, O2Micro develops and markets innovative power management and e-commerce components for the Computer, Consumer, Industrial, and Communications markets. Products include Intelligent Lighting, Battery Management, and Power Management.
O2Micro International maintains an extensive portfolio of intellectual property with 20,690 patent claims granted, and over 21,000 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, Cool Battery Technology, SmartCardBus, and combinations thereof are registered trademarks of O2Micro. MemoryCardBus is a trademark of O2Micro. All other trademarks or registered trademarks are the property of their respective owners.
The O2Micro International Limited (OIIM) logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6567
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.
CONTACT: Scott L. Anderson Director of Investor Relations, O2Micro Phone: 408.987.5920, x8888 Email: email@example.com
Source: O2Micro International Limited 2012 GlobeNewswire, Inc.