Silicom Develops New Line of Products for a Leading Manufacturer of Modem/GSM Products
KFAR-SAVA, Israel--(BUSINESS WIRE)--Dec. 20, 1999--Silicom Ltd.
(Nasdaq:SILCF - news) today announced that the company received an order from a leading European manufacturer of modem/GSM products for the development of a new line of products which integrates Fast Ethernet, modem, GSM, PC Card and CardBus technologies.
''During this project Silicom will develop six new products based on technologies, know-how and expertise of Silicom and its partner. We expect to finalize the design of all new products within five months to meet our partner time to market requirements,'' said Ilan Erez, VP Finance and CFO of Silicom. ''We expect that this co-operation will have a significant effect on Silicom's future revenues as well as on the net income. According to the terms agreed by the companies, Silicom's minimum guarantied net income (net earnings) resulting from this project during the development stage and the first year of products' sales thereafter will be approximately $US 1 Million.''
''We are very pleased with our continuous success to follow the new strategy adopted by the company earlier this year,'' said Avi Eizenman, President and CEO of Silicom. ''Encouraged by establishing this significant co-operation, Silicom continues to develop its home networking, broad-band Internet access, USB and Linux operating system expertise and know-how to further enhance its position for future co-operations and joint projects.''
Silicom Ltd. is a leading provider of high performance connectivity solutions. The Company offers a broad line of single and multi-function USB, PC Card and CardBus products with support for Home networking, Fast Ethernet, Ethernet, Token Ring, 56Kbps modem, USB and RS-232.
Statements in this press release which are not historical data are forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the Company's control, which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the Company's periodic filings with the Securities and Exchange Commission.
Contact:
Silicom Ltd.
Avi Eizenman, +972-9-764-4555
E-mail - marketing@silicom.co.il
or
Silicom Inc.
Ran Rachlin, 201/529-1121
E-mail - marketing@silicom-usa.com
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