The sole Lattice Semiconductor salesman went bankrupt in Korea.
Perhaps Xilinx's representativecan jump on all the accounts?
Lattice Semiconductor Discloses Insolvency of Korean Sales Representative/Distributor
PR Newswire, Wednesday, December 10, 1997 at 18:21
HILLSBORO, Ore., Dec. 10 /PRNewswire/ -- Lattice Semiconductor Corporation
(NASDAQ:LSCC) announced that it was informed today that its sole Korean sales
representative/distributor, Woo Young Tech Co., Ltd., has been declared
insolvent.
As a result, the Company's existing backlog to its Korean customers of
approximately $3.5 million is at risk. As the Company sells products in the
Korean market via cash in advance or on a letter of credit basis, there is no
expected additional financial exposure as a result of Woo Young's insolvency.
The Company is in active communication with its major Korean customers to
arrange for direct product shipment. Current indications are that the
Company's Korean backlog accurately reflects end customer demand. If
appropriate arrangements can be made in a timely manner, it is possible that a
portion or all of the existing Korean backlog could be shipped during the
quarter.
Statements in this news release looking forward in time are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Investors are cautioned that forward-looking statements involve
risks and uncertainties, including the effect of changing economic conditions,
the effect of overall semiconductor market conditions, product demand and
market acceptance risks, risks associated with dependencies on silicon wafer
suppliers, the impact of competitive products and pricing, technological and
product development risks and other risk factors detailed in the Company's
Securities and Exchange Commission filings. Actual results may differ
materially from forward-looking statements.
Oregon-based Lattice Semiconductor Corporation designs, develops and
markets the broadest range of high-performance ISP(TM) programmable logic
devices (PLDs). ISP devices, pioneered and invented by the Company in 1992,
have revolutionized how programmable logic is utilized in electronic design.
Lattice's ISP PLDs shorten design cycles and reduce development costs by
allowing the customer to quickly and efficiently incorporate different logic
functions on a single device. Lattice products are sold worldwide through an
extensive network of independent sales representatives and distributors,
primarily to OEM customers in the fields of communications, computing,
computer peripherals, instrumentation, industrial control and military
systems.
Company headquarters are located at 5555 N.E. Moore Court, Hillsboro,
Oregon 97124 U.S.A.; Telephone 503-681-0118; FAX 503-681-3037. For more
information on Lattice Semiconductor, access our World Wide Web investor
relations site at: "http://www.lscc.com".
NOTE: ISP and In-System Programmable are trademarks of Lattice
Semiconductor Corporation.
SOURCE Lattice Semiconductor Corporation
-0- 12/10/97
/CONTACT: Steve Skaggs, Chief Financial Officer of Lattice Semiconductor
Corporation, 503-681-0118/
/Web site: lscc.com |
