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Technology Stocks : Alliance Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: DJBEINO who wrote (8151)	8/11/2000 4:19:02 PM
From: Paul Lee	Respond to of 9582

Alliance Semiconductor Revises Financial Results for the Fiscal First Quarter Ended July 1, 2000 SANTA CLARA, Calif.--(BUSINESS WIRE)--Aug. 11, 2000-- Q1 Revenues Up 168% and Net Income of $33.3 Million; Operating Income of $9.4 Million / $0.13 Per Share Alliance Semiconductor Corporation (Nasdaq:ALSC) is revising its earnings for the fiscal first quarter ended July 1, 2000, as it recently learned that PMC-Sierra ("PMC") completed its acquisition of Malleable Technologies ("Malleable") on June 27, 2000. In connection with the merger, the Company received approximately 68.2 thousand shares of PMC for its 7% interest in Malleable, after distribution of a management fee to Alliance Venture Management, LLC. The fiscal first quarter results have been revised to reflect a pre-tax non-operating gain of approximately $11 million based on the closing share price of PMC of $182.875 on June 27, 2000, the closing date of the merger. The revised net income for the fiscal first quarter was $33.3 million, resulting in net earnings of $0.78 per share (diluted), versus net income of $26.8 million and net earnings of $0.63 per share (diluted) as previously reported on July 20, 2000. For the same quarter last year, reported net income was $53.4 million, or $1.27 per share (diluted).