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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (60183)	2/8/2002 3:29:27 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Zilog aims to exit bankruptcy in Q2; operating loss at $49.7 million in Q4 Semiconductor Business News (02/07/02 17:58 p.m. EST) siliconstrategies.com SAN JOSE -- Zilog Inc. today said it hoped to exit from Chapter 11 bankruptcy protection by the end of April after officially beginning the process of recapitalizing its debt. The struggling chip company also today reported an operating loss of $49.7 million--including $47.5 million in special charges--on net sales of $41.4 million in the fourth quarter. At the end of January, Zilog began soliciting approvals of a prepackaged reorganization plan from the holders of outstanding notes and preferred stock after striking a preliminary agreement with key bondholders to restructure debt on $280 million of senior secured notes (see Nov. 28 story).