***News release***
biz.yahoo.com
Monday June 29, 11:33 am Eastern Time
Company Press Release
Spectrum Signal Leads the Industry by Shipping Production Products Based on Texas Instruments' Highest Performance TMS320C62x DSP
BURNABY, BRITISH COLUMBIA--(BUSINESS WIRE)--June 29, 1998-- (NASDAQ:SSPIF - news; TSE:SSY. - news)
Q2 Ship Date Meets Company Commitments for 'C62x Products
Spectrum Signal Processing Inc., the industry leader in high-performance DSP systems, today announced it has shipped first production of its ''Monaco'' and ''Detroit'' products incorporating Texas Instruments' (NY - TXN) latest Revision 2.1, 200MHz 'C62x to several OEM customers. This milestone is significant for Spectrum and its customers as these products are available ahead of the competition and represent the most technologically advanced and fastest 'C62x Commercial-off-the-shelf (COTS) DSP systems shipping in the industry.
Orders for Spectrum's 'C62x-based products have been strong in the first half of 1998. In addition to the Company's established lines, 'C62x-based products alone account for a backlog of over US $4 million - higher than ever before for a new product introduction. The total number of design-ins and design-wins for the Company at mid-year 1998 has increased significantly over recent years, proving that Spectrum's strategy of focussing on its OEM business has been successful.
''In the last quarter of 1997 we estimated that Spectrum would ship products based on a production version of the 'C62x chip to OEM's by the end of the second half of 1998. We have followed through and in advance of our competitors, began shipping OEM quantities in June of products for both VME and PCI computer platforms.'', said Barry Jinks, Spectrum President and CEO. ''We are extremely pleased with the backlog of our current 'C62x products and are excited by the interest from customers in the new Daytona and Barcelona platforms which will be introduced in the second half of the year.''
The availability of advanced processors such as the 'C62x from TI has opened up numerous innovative application opportunities for Spectrum. This new chip has encouraged OEM companies currently using traditional analog or discrete digital technologies to migrate to programmable digital signal processing solutions in order to realize immense improvements in accuracy, data processing power, speed and overall system cost reductions. According to industry analysts, this trend is fuelling the growth of COTS DSP systems products in such sectors as wireless communications, remote access servers, signal intelligence and remote sensing - Spectrum's target markets.
Spectrum Signal Processing is the leading worldwide supplier of DSP system solutions. The company offers DSP software, off-the-shelf hardware, custom ASIC design and complete custom systems. Customers such as Nortel, Hewlett Packard, Northrop Grumman, NEC, Daewoo Telecom, the US Department of Defense and Lockheed Martin benefit from Spectrum's innovative, programmable DSP products, by gaining competitive advantages such as faster time to market and low-cost feature set upgradeability. Spectrum Signal Processing is publicly traded on NASDAQ NMS under the symbol SSPIF and on the TSE under the symbol SSY. The company is ISO9001 quality certified, can be found on the web at www.spectrumsignal.com, and is located at #100 - 8525 Baxter Place, Burnaby, B.C., Canada. ph (604) 421-5422; fax (604) 421-1764.
Any statements made by the company that are not historical facts are forward-looking statements that are pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, including the timely development and acceptance of new products, the impact of competitive products and pricing, changing market conditions and the other risks detailed in the company's prospectus and from time to time in other filings. Actual results may differ materially from those projected. These forward-looking statements represent the company's judgement as of the date of this release. The company may or may not update these forward-looking statements in the future.
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Contact:
Spectrum Signal Processing Inc.
Tanis MacSween, 604/ 421-5422
Email: Tanis_MacSween@spectrumsignal.com
Karen Elliott, 604/ 421-5422
Email: Karen_Elliott@spectrumsignal.com
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