Michael, depending on what you see as the bottom. I see the low of the formation in Jan. The worst is over. Besides, here is the news which is good news, IMHO:
Wednesday March 4, 11:07 am Eastern Time
Company Press Release
SOURCE: Atmel Corporation
Atmel Acquires Temic Semiconductor's Integrated Circuit Business
SAN JOSE, Calif., March 4 /PRNewswire/ -- Atmel Corporation (Nasdaq: ATML - news) today announced the
completion of the acquisition of the integrated circuit (IC) business of Temic Telefunken Microelectronic GmbH
(Temic), of Heilbronn, Germany, a wholly-owned subsidiary of Daimler-Benz A.G. (NYSE: DAI - news). Vishay
Intertechnology, Inc. (NYSE: VSH - news), which recently completed its purchase of Temic's semiconductor
business unit from Daimler Benz, sold Temic's IC division to Atmel for approximately $110 million in cash. Sales of
the businesses Atmel purchased totaled approximately $260 million in 1997. The Temic IC division has two 6 inch
fabrication facilities located in Heilbronn, Germany (BiPolar and silicon germanium) and Nantes, France (CMOS).
Dialogue Semiconductors Ltd., the mixed signal division of Temic, which had sales of approximately $40 million in
1997, was sold by Daimler to another party. Based on information presently available, this transaction is expected to
be moderately accretive to Atmel in 1998.
''We believe that Temic's products and process technologies, particularly the RF and silicon germanium capabilities,
will significantly enhance Atmel's ability to deliver integrated solutions to the wireless telecommunications market,
increase our sales to the automotive market and increase our microcontroller revenues significantly,'' said George
Perlegos, Atmel's President and Chief Executive Officer. ''Additionally, Temic sells approximately 60 percent of its
products to European customers, which will help Atmel to diversify and achieve a larger sales presence in the rapidly
growing European telecommunications and automotive markets.''
Except for historical information contained herein, the matters set forth in this press release are forward looking
statements that are subject to risks and uncertainties that could cause actual results to differ materially, including the
impact of competitive products and pricing, timely design acceptance by our customers, ability to ramp new products
into volume, industry wide shifts in supply and demand for semiconductor products, further deterioration of the
financial situation in Asia, and other risks detailed from time to time in Atmel's SEC reports and filings.
Headquartered in San Jose, California, with principal manufacturing facilities in Colorado Springs, Colorado and in
Rousset, France, Atmel designs, develops, manufactures, and markets on a worldwide basis nonvolatile and
embedded memory, logic, analog and microcontroller products, and system-level integration (SLI) solutions.
Atmel product and financial information can be retrieved from its Fax-on-Demand service. In North America call
800-292-8635. International, from a fax phone, call 408-441-0732. You can send your request via e-mail to
literature@atmel.com or visit Atmel's Web site at atmel.com
SOURCE: Atmel Corporation |
