Here are the earnings......
Xicor Reports Second Quarter Results; Net Income Up Substantially on Increased Sales
July 18, 1996, 8:19 AM EDT
MILPITAS, Calif.--(BUSINESS WIRE)--July 18, 1996--Xicor, Inc. (Nasdaq-NMS: XICO) today reported results for the 13-week second quarter and the 26-week
first half ended June 30, 1996.
Sales for the 13-week second quarter of 1996 were $31,306,000 compared to $25,683,000 for the 12-week second quarter of 1995. Net income for the second quarter
of 1996 was $3,375,000 or $.17 per share, compared to $2,026,000, or $.11 per share, for the second quarter of 1995. For the 26-week first half of 1996 Xicor had
sales of $59,948,000 and net income of $6,254,000, or $.32 per share, compared to sales of $49,218,000 and net income of $3,259,000, or $.18 per share, for the
24-week period of 1995.
Mr. Raphael Klein, President, stated, "I am pleased to report that net income for the second quarter of 1996 rose substantially relative to the second quarter of 1995. As
expected, the additional production and test equipment brought on line in the fourth quarter of 1995 and first half of 1996 resulted in increased sales from the first quarter to
the second quarter of 1996.
"We are seeing strong demand for many of our proprietary products and continuing demand for our commodity products. Accordingly, we are proceeding with our plans
to bring on line additional equipment during the balance of the year to support further sales growth. In addition, we are continuing to focus on the development of new,
innovative products and technology to facilitate the Company's long term growth," concluded Mr. Klein.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
This press release contains 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, including statements regarding the expectation of increased capacity and sales growth. Except for historical information, the matters discussed in this press release are
forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected. Factors that could
cause actual results to differ materially include the following: general economic conditions and conditions specific to the semiconductor industry, fluctuations in customer
demand, competitive factors such as pricing pressures on existing products and the timing and market acceptance of new product introductions, Xicor's ability to have
available an appropriate amount of production capacity in a timely manner, improvements in manufacturing efficiencies, the timely development of new products and
processes, and the risk factors listed from time to time in Xicor's SEC reports, including but not limited to the Annual Report on Form 10-K for the year ended December
31, 1995 (Management's Discussion and Analysis of Financial Condition and Results of Operations, Factors Affecting Future Results section). Xicor assumes no obligation
to update the information included in this press release. Corporate Information
Xicor develops and manufactures a broad line of in-the-system programmable semiconductor integrated circuits which retain information even when system power is lost or
turned off. In-the-system programmability enables telecommunications, consumer, computer, industrial, automotive and military products to adapt to changing software and
operating environments, and to be personalized by the user. Many of Xicor's products consume little power and operate well from a battery powered source, making them
ideal for hand-held and portable applications.
Xicor products are used by manuacturers of electronic products throughout the world, with approximately half of Xicor's sales being exported. Xicor products are
supported by regional technical sales offices located in the USA, Europe, Japan and South Korea, and by independent sales representatives and electronic component
distributors.
Xicor emphasizes the development of proprietary products which incorporate its programmable technology, enabling customers to rapidly bring to market products with
improved features, efficiency and maintainability. In 1995 Xicor introduced to the market the industry's first SerialFlash memory product family, operating from low voltage
power sources. Xicor is a leading supplier of E2PROM memory products and E2POT digitally controlled potentiometers.
Xicor's headquarters and principal manufacturing facilities are located in Milpitas, California. Xicor has received the Underwriters Laboratories Certification of Compliance
with the ISO 9001 quality standard and the joint automotive QS 9000 quality standard.
Xicor's product, corporate and financial information is readily accessible on the World Wide Web at xicor.com
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The First Call Earnings Estimate was for 18 cents. Hope this doesn't hurt them. It probably won't because it's still a large increase from last year. |
