Looks like TransMeta got hit with the AMD "Late Mask Fix" syndrome !!!
"``Unfortunately, we concluded that it was necessary to make metal mask revisions in order to achieve our volume manufacturing goals using the new 0.13 micron manufacturing process, which in turn had a significant effect on our ramp schedule. "
Looks like TransMeta has also invented "Profit Morphing" - magically turning expected profits into humongous losses !!
biz.yahoo.com
Wednesday December 12, 1:05 pm Eastern Time
Press Release
SOURCE: Transmeta
Transmeta Corporation Updates Fourth Quarter 2001 Financial Outlook
SANTA CLARA, Calif.--(BUSINESS WIRE)--Dec. 12, 2001--Transmeta Corporation (Nasdaq:TMTA - news) today announced that it is updating the outlook for its financial performance for the fourth quarter ending December 28, 2001.
``In our last quarterly conference call and press release, we indicated that we would offer a December update about the production ramp of our new TM5500 and TM5800 Crusoe products and our financial guidance for the fourth quarter of 2001,'' said Murray A. Goldman, chairman and CEO, Transmeta Corporation. ``Although our unit shipments of TM5500 and TM5800 products increased during the month of November, we fell substantially short of our production goals. As a result, we currently expect that our revenue for the fourth quarter of 2001 will be approximately $1.0 million.''
``We are disappointed by these results,'' Goldman added. ``Unfortunately, we concluded that it was necessary to make metal mask revisions in order to achieve our volume manufacturing goals using the new 0.13 micron manufacturing process, which in turn had a significant effect on our ramp schedule. In the meantime, we are continuing to manufacture our new products in small volumes until our new mask set is in production, and our production plan contemplates volume production for customer shipments in early February.''
``We are very appreciative of the cooperation and support that we received from our foundry partner, TSMC, as we collaborated on the engineering work needed to resolve these manufacturing issues. Transmeta values its relationship with TSMC very highly and is fully committed to a long and fruitful partnership.''
``We also want to express our gratitude for the support given to us by our customers as we have endeavored to meet their needs during our production ramp. Based upon recent meetings with many of our major customers, we believe that they appreciate the unique energy efficiency and other advantages of our products and remain committed to the Crusoe line of microprocessor products.''
Transmeta Corporation will host a conference call today, Wednesday, December 12, 2001 at 10:00 a.m. Pacific Standard Time. The access number for the teleconference is 719 457-2651. Please call in at least 5 to 10 minutes before the scheduled start time to allow sufficient time for name authorization.
Additionally, the conference call will be webcast through Transmeta's website at transmeta.com and there will be a replay of the teleconference for one week commencing on Wednesday, December 12, 2001 at 12:00 p.m. Pacific Standard Time. The access number for the conference replay is 888 203-1112, passcode 708251. For callers outside the U.S., the phone number to access the recording is 719 457-0820, with the same passcode.
About Transmeta Corporation
Transmeta is a publicly traded company located in Santa Clara, California. Transmeta develops and sells software-based microprocessors and develops additional hardware and software technologies that enable computer manufacturers to build computers that simultaneously offer long battery life, high performance and x86 compatibility. Transmeta's family of Crusoe microprocessors is targeted at the notebook and Internet appliance segments of the Mobile Internet Computer market, as well as ultra-dense servers and a range of embedded applications.
To learn more about Transmeta visit www.transmeta.com.
Note to Editors: Transmeta and Crusoe are trademarks and/or registered trademarks of Transmeta Corporation in the United States and/or other countries. All other trademarks are the properties of their respective owners.
Cautionary Statement
This release contains forward-looking statements regarding future events or the future financial performance of the Company, which statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements are only predictions, which may differ materially from actual results or future events. All such forward-looking statements are based upon our current expectations but involve inherent risks and uncertainties. Such forward-looking statements speak only as of the date of this release, and the Company will not necessarily provide updates of its forward-looking projections or forecasts.
Risks and uncertainties that may have material effects on our future performance include general economic conditions, including the recent significant slowdown in the technology sector and semiconductor industry, the timing, rescheduling or cancellation of significant customer orders, potential fluctuations in our quarterly results, dependence on increasing demand for our Crusoe products, difficulties in developing or manufacturing new products in a timely and cost effective manner, market acceptance of our new products and of our customers' systems using our products, the growth of emerging markets that we are addressing, our customer concentration, the loss of revenue if a major customer were to cancel, reduce or delay a product order, inventory losses from a failure to forecast product demand accurately, our dependence on third parties for sourcing materials and providing manufacturing services, delays in product deliveries as we transition to smaller geometry process technologies, competition, rapid technological change, patents and intellectual property rights, volatility of our stock price, and the cyclical nature of the semiconductor market. We urge investors to review our regular filings with the Securities and Exchange Commission, including specifically our most recently filed Form 10-Q, which identify and describe these and other important risk factors that could cause our actual results to differ from those contained in these forward-looking statements.
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Contact:
Transmeta
Merle A. McClendon, 408/919-3000
Phillip Bergman, 408/919-6818
bergman@transmeta.com
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