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Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (8376)	7/24/2001 4:04:40 PM
From: 2MAR$	Respond to of 208838

Microsemi Corp. Reports Third-Quarter Results; Profits Grow From Diversification and New Products Business Editors & High-Tech Writers IRVINE, Calif.--(BUSINESS WIRE)--July 24, 2001-- -- Performance is In-Line with Original Guidance -- Pro Forma Net Earnings Per Share for Third Quarter are $0.33 diluted -- $0.01 above consensus estimate -- Pro Forma Net Earnings Per Share for First 9 Months are $0.96 diluted -- Gross Margins Increase 150 Basis Points over Prior Quarter and 430 Basis Points over Last Year's 9 Months -- Pro Forma Net Earnings for Third Quarter of Fiscal Year are up 39% over Same Period Last Year -- Pro Forma Net Earnings for First 9 Months of Fiscal Year are up 101% over Same Period Last Year Microsemi Corp. (Nasdaq:MSCC) today reported results that are in-line with its original guidance and above consensus estimate for its fiscal 2001 third quarter. Net sales for the quarter ended July 1, 2001 were $60.1 million. Net sales from continuing business for the quarter were $59.5 million, compared with $59.9 million in the third quarter of 2000. Third quarter pro forma net income increased 39% to $4.9 million up from $3.5 million, or to $0.33 per share diluted, up 22%, from $0.27 per share diluted, in the third quarter of last year. Sales from continuing business excludes sales from three units closed over the last nine months through consolidation and exiting low-margin business as part of our gross margin improvement program. From $62.9 million, the highpoint of the company's sales from continuing business in the fourth quarter of fiscal year 2000, the company's sales from continuing business have been, sequentially in the first three quarters, $60.8, $60.7 and $59.5 million. These numbers demonstrate strength relative to the semiconductor industry today. James J. Peterson, president and CEO, stated that, "We are very