TMTA Falling fast!News out!Transmeta Corporation Updates Fourth Quarter 2001 Financial Outlook
Business Editors/High-Tech Writers
SANTA CLARA, Calif.--(BUSINESS WIRE)--Dec. 12, 2001--Transmeta Corporation (Nasdaq:TMTA) today announced that it is updating the outlook for its financial performance for the fourth quarter ending December 28, 2001. "In our last quarterly conference call and press release, we indicated that we would offer a December update about the production ramp of our new TM5500 and TM5800 Crusoe products and our financial guidance for the fourth quarter of 2001," said Murray A. Goldman, chairman and CEO, Transmeta Corporation. "Although our unit shipments of TM5500 and TM5800 products increased during the month of November, we fell substantially short of our production goals. As a result, we currently expect that our revenue for the fourth quarter of 2001 will be approximately $1.0 million." "We are disappointed by these results," Goldman added. "Unfortunately, we concluded that it was necessary to make metal mask revisions in order to achieve our volume manufacturing goals using the new 0.13 micron manufacturing process, which in turn had a significant effect on our ramp schedule. In the meantime, we are continuing to manufacture our new products in small volumes until our new mask set is in production, and our production plan contemplates volume production for customer shipments in early February." "We are very appreciative of the cooperation and support that we received from our foundry partner, TSMC, as we collaborated on the engineering work needed to resolve these manufacturing issues. Transmeta values its relationship with TSMC very highly and is fully committed to a long and fruitful partnership." "We also want to express our gratitude for the support given to us by our customers as we have endeavored to meet their needs during our production ramp. Based upon recent meetings with many of our major customers, we believe that they appreciate the unique energy efficiency and other advantages of our products and remain committed to the Crusoe line of microprocessor products." Transmeta Corporation will host a conference call today, Wednesday, December 12, 2001 at 10:00 a.m. Pacific Standard Time. The access number for the teleconference is 719 457-2651. Please call in at least 5 to 10 minutes before the scheduled start time to allow sufficient time for name authorization. Additionally, the conference call will be webcast through Transmeta's website at transmeta.com and there will be a replay of the teleconference for one week commencing on Wednesday, December 12, 2001 at 12:00 p.m. Pacific Standard Time. The access number for the conference replay is 888 203-1112, passcode 708251. For callers outside the U.S., the phone number to access the recording is 719 457-0820, with the same passcode.
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