SUNNYVALE, Calif., June 24, 2004 — Silicon Image, Inc. (Nasdaq: SIMG), a leader in multi-gigabit semiconductor solutions for the secure transmission and storage of rich digital media, announced today that it would exceed its prior guidance for the second quarter ending June 30, 2004. The company expects second quarter revenues to grow 16-20 percent sequentially, versus 8-13 percent, as stated in its prior guidance.
Commenting on the revenue growth, Silicon Image's Chief Executive Officer, David Lee, stated, "Our revenues continue to exhibit outstanding growth with this being our third straight quarter of near 20 percent sequential revenue growth. In addition our bookings remain strong and we expect third quarter revenues to grow 5-10 percent sequentially over the raised second quarter numbers. Additional details on the quarter's performance and future guidance will be provided during our regularly scheduled earnings call on July 20, 2004."
The company will host a conference call at 2:00 p.m. PDT July 20, to discuss its second quarter 2004 results and business outlook. The call will be broadcast over the Internet and can be accessed on the investor relations site located at www.siliconimage.com.
About Silicon Image Headquartered in Sunnyvale, Calif., Silicon Image, Inc. designs, develops and markets multi-gigabit semiconductor and system solutions for a variety of communications applications demanding high-bandwidth capability. With its proprietary Multi-layer Serial Link (MSL™) architecture, Silicon Image is well positioned for leadership in multiple mass markets including PCs, consumer electronics and storage. Currently, Silicon Image leads the global PC/display arena with its innovative digital interconnect technology, and has emerged as a leading player in the consumer electronics and storage markets-offering robust, high-bandwidth semiconductors. For more information on Silicon Image, visit www.siliconimage.com
This news release contains forward-looking information within the meaning of federal securities regulations. These forward-looking statements include statements related to future product demand, timing of hiring a new CEO and future corporate performance. These forward-looking statements involve risks and uncertainties, including those described from time to time in Silicon Image's filings with the Securities and Exchange Commission (SEC), that could cause the actual results to differ materially from those anticipated by these forward-looking statements. In particular, actual future product demand, timing of hiring a new CEO and future corporate performance may not conform to current expectations. Also see "Management's Discussion and Analysis of Financial Condition and Results of Operations-Factors Affecting Future Results" in the most recent Annual Report, Form 10-K or 10-Q filed by Silicon Image with the SEC. Silicon Image assumes no obligation to update this forward-looking information.
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