inSilicon Corporation Provides Preliminary Second Quarter Outlook
SAN JOSE, Calif.--(BUSINESS WIRE)--April 5, 2001--inSilicon Corporation (Nasdaq:INSN) -- a leading provider of communications technology for complex systems-on-chip (SOC) -- today provided a preliminary outlook for the quarter ended March 31, 2001.
Based on the preliminary information available to date, the Company currently anticipates revenue for second quarter ended March 31, 2001 to be in the range of $5.2 million to $5.5 million, versus the current analyst consensus of $6.9 million. The Company expects to report a pro-forma net loss for the period of approximately $1.5 million to $2.1 million, which will result in a pro-forma net loss of between $0.11 and $0.14 per share.
``The difficult economic environment affecting our customer base, especially the semiconductor and systems companies, has impacted our ability to achieve our targets,'' said Wayne Cantwell, President and Chief Executive Officer. ``During the quarter we were able to close most of the business that had been delayed from the first quarter. At this time, we do not see any erosion of our market share and are focused on continuing to build our position as a leading provider of communications technology for systems-on-chip designs. During our upcoming conference call, we will provide background on customer wins, product status and other key accomplishments for the quarter. Based on our experience this quarter and limited visibility into the upcoming quarters, we are evaluating prudent spending reductions and will provide more guidance on our outlook for the second half of 2001 on our conference call.''
InSilicon Corporation will report its second quarter results on April 17. At that time, the Company will provide a more detailed review of its financial performance.
inSilicon Corporation is a leading provider of communications semiconductor intellectual property used by semiconductor and systems companies to design systems-on-chip that are critical components of innovative wired and wireless products. inSilicon's technology provides customers faster time-to-market and reduced risk and development cost. The company's broad portfolio of analog and mixed-signal products and enabling communications technologies, including the JVX(TM) and JVXtreme(TM) Java(TM) Accelerators, Bluetooth, Ethernet, USB, PCI, and IEEE-1394, are used in a wide variety of markets encompassing communications, consumer, computing, and office automation. inSilicon is a subsidiary of Phoenix Technologies (Nasdaq:PTEC - news). Information about inSilicon products and technologies is available at http://www.insilicon.com.
``Safe Harbor'' Statement under the Private Securities Litigation
Reform Act of 1995
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on management's beliefs as well as on a number of assumptions concerning future events made by and information currently available to management. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside inSilicon's control, that could cause actual results to differ materially from such statements. For a more detailed description of the factors that could cause such a difference, please see inSilicon's filings with the Securities and Exchange Commission including its Annual Report on Form 10-K. inSilicon disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is presented solely to provide additional information to further understand the results of inSilicon.
inSilicon Corporation, San Jose
Bryan LeBlanc, 408/894-1900
Teresa Thuruthiyil, 415/296-7383 (Investor Relations)
Ron Heckmann, 415/296-7383 (Financial Media Relations)