Mindspeed Raises Guidance for Fiscal Fourth Quarter 2012
Company Sees Improving Wireline Business Trends; Restructuring Plan on Track
NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for network infrastructure applications, today announced that it has raised its fiscal fourth quarter 2012 guidance previously provided on July 23, 2012. Mindspeed (MSPD) now forecasts revenue in the range of $35 to $36 million, versus a prior range of approximately $33.5 to $35.5 million.
Our wireline business is stabilizing with improved demand for our high-performance analog (HPA) and VoIP product lines, commented Raouf Y. Halim, Mindspeed's chief executive officer. The early ramp of our wireless 4G/LTE SoCs is on track for the coming quarter, as expected. Furthermore, we believe that the Picochip acquisition and integration, as well as our global restructuring efforts to accelerate operating profitability, have already begun to show marked benefits to Mindspeed.
Mindspeed will report its fiscal fourth quarter 2012 results and forward guidance on November 5, 2012.
About Mindspeed Technologies
Mindspeed Technologies is a leading provider of network infrastructure semiconductor solutions to the communications industry. The company's low-power system-on-chip (SoC) products are helping to drive video, voice and data applications in worldwide fiber-optic networks and enable advanced processing for 3G and long-term evolution (LTE) mobile networks. The company's high-performance analog products are used in a variety of optical, enterprise, industrial and video transport systems. Mindspeed's products are sold to original equipment manufacturers (OEMs) around the globe.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include statements regarding our expectations, goals or intentions, including, but not limited to: our current assessment of the demand environment; the anticipated financial and operational impact of our recent restructuring effort, including our ability to achieve operating profitability; the positive impact of our Picochip acquisition; and our current expectations for fourth quarter 2012 revenue. These forward-looking statements are based on management's current expectations, estimates, forecasts and projections and are subject to risks and uncertainties that could cause actual results and events to differ materially from those stated in the forward-looking statements. For example, we cannot provide assurances that our recent restructuring plan will result in our achieving operating profitability and our current projections of future operating results are based, in part, on the anticipated financial impact of our acquisition of Picochip. In addition, our existing business is subject to numerous risks and uncertainties, including fluctuations in our operating results and future operating losses; loss of or diminished demand from one or more key distributors; our ability to successfully develop and introduce new products; pricing pressures; and the potential for intellectual property litigation. Additional risks and uncertainties that could cause our actual results to differ from those set forth in any forward-looking statements are discussed in more detail under the caption Risk Factors in our Annual Report on Form 10-K for the fiscal year ended September 30, 2011, and will be included in our Quarterly Report on Form 10-Q for the quarter ending September 28, 2012, as well as our future filings with the SEC.
Mindspeed Investor Relations:
VP, Business Development and Investor Relations
Mindspeed Technologies, Inc.
VP Corporate Strategy and Marketing Communication
+44 1225 469 744
Source: Mindspeed Technologies, Inc.Copyright Business Wire 2012