Microsemi Announces 2-For-1 Stock Split
Monday January 26, 4:00 pm ET
IRVINE, Calif.--(BUSINESS WIRE)--Jan. 26, 2004--Microsemi Corp. (Nasdaq:MSCC - News) announced today that its Board of Directors has authorized a 2-for-1 stock split to be effected by a dividend payable in shares of Common Stock.
The dividend has been declared and will be payable to stockholders of record as of the close of business on Friday, Feb. 6, 2004. Stockholders will receive one additional share of Common Stock for every one share held as of that time on the record date.
As a result of the stock split, Microsemi's outstanding shares of Common Stock would increase by 100% to approximately 58,924,732 shares, estimated based upon 29,462,366 currently outstanding shares.
The company anticipates that the Common Stock shall begin trading ex-dividend on Monday, Feb. 9, 2004 at the market open, subject to the discretion of Nasdaq to establish such date. When the Common Stock trades ex-dividend, the price per share of Common Stock for the first time would reflect a 50% dilution in percentage ownership per share. This results from the passing of the Feb. 6, 2004 record date for the 2-for-1 stock split effected by means of a stock dividend.
About Microsemi Corp.
Microsemi is a leading designer, manufacturer and marketer of high performance analog and mixed-signal integrated circuits and high reliability discrete semiconductors. The company's semiconductors manage and control or regulate power, protect against transient voltage spikes and transmit, receive and amplify signals.
Microsemi's products include individual components as well as integrated circuit solutions that enhance customer designs by improving performance and reliability, battery optimization, reducing size or protecting circuits. The principal markets the company serves include implanted medical, military/aerospace and satellite, notebook computers and monitors, automotive and mobile connectivity applications.
More information may be obtained by contacting the company directly or by visiting its Web site at microsemi.com.
Please Read the Following Factors That Can Materially Affect Microsemi's Future Results
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in the news release that are not entirely historical and factual in nature are forward-looking statements. For instance, all statements of belief and expectations are forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Potential risks and uncertainties include, but are not limited to, such factors as the difficulties regarding the making of estimates and projections, the hiring and retention of qualified personnel in a competitive labor market, acquiring and integrating new operations or assets, closing or disposing of operations or assets, rapidly changing technology and product obsolescence, the potential inability to realize cost savings or productivity gains and to improve capacity utilization, potential cost increases, weakness or competitive pricing environment of the marketplace, uncertain demand for and acceptance of the company's products, results of in-process or planned development or marketing and promotional campaigns, changes in demand for products, difficulties foreseeing future demand, effects of limited visibility of future sales, potential non-realization of expected orders or non-realization of backlog, product returns, product liability, and other potential unexpected business and economic conditions or adverse changes in current or expected industry conditions, business disruptions, epidemics, disasters, wars or potential future effects of the tragic events of Sept. 11, variations in customer order preferences, fluctuations in market prices of the company's common stock and potential unavailability of additional capital on favorable terms, difficulties in implementing company strategies, dealing with environmental matters or litigation, difficulties in determining and maintaining adequate insurance coverage, difficulties protecting patents and other proprietary rights, inventory obsolescence and customer qualification of products, manufacturing facilities and processes. In addition to these factors and any other factors mentioned elsewhere in this news release, the reader should refer as well to the factors, uncertainties or risks identified in the company's most recent Form 10-K filed on Dec. 19, 2003 by Microsemi with the Securities and Exchange Commission which relates to the fiscal year. Additional risk factors may be identified from time to time in Microsemi's future filings. Microsemi does not undertake to supplement or correct any information in this release that is or becomes incorrect.
Contact:
Microsemi Corp., Irvine
David R. Sonksen (For Investor Inquiries), 949-221-7101
or
Cliff Silver (Editorial), 949-221-7112
Source: Microsemi Corp. |
