SOURCE: Mindspeed Technolgoies

Mindspeed Technolgoies

June 08, 2009 08:15 ET

Mindspeed® Updates Fiscal 2009 Third Quarter Outlook

Mindspeed Now Expects Revenue Above Its Previously Announced Guidance Range for the Third Quarter

NEWPORT BEACH, CA--(Marketwire - June 8, 2009) - Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for network infrastructure applications, today announced an update to its business outlook for the third quarter of fiscal 2009. The company now expects revenues in the third quarter of fiscal 2009 to be in the range of $32.0 million to $33.0 million, excluding any potential patent sales. The company's previous guidance for third fiscal quarter revenue was to be in the range of $30.0 million to $32.0 million. The revision in guidance is attributable to strength in all three of the company's businesses, multiservice access (MSA) or voice-over-IP (VoIP), high-performance analog (HPA) and wide area networking (WAN). The company continues to experience better than expected 3G wireless infrastructure and fiber-to-the-building (FTTB) customer demand in China, as well as growth in crosspoint switch solutions.

The company now anticipates non-GAAP gross margin to be approximately 61% for the third quarter of fiscal 2009. In addition, the company now expects non-GAAP operating expenses to be approximately $21.4 million for the third quarter of fiscal 2009, due to additional charges associated with the previously reported unexpected medical insurance claim.

Mindspeed is scheduled to release its earnings results for the third fiscal quarter of 2009 on July 27, 2009.

About Mindspeed Technologies®

Mindspeed Technologies, Inc. designs, develops and sells semiconductor networking solutions for communications applications in enterprise, access, metropolitan and wide-area networks.

The company's three key product families include high-performance analog transmission and switching solutions, multiservice access voice-over-IP processors designed to support voice and data services across wireline and wireless networks and WAN communication products such as T/E carrier transmission devices and ATM/MPLS network processors.

Mindspeed's products are used in a wide variety of network infrastructure equipment, including voice and media gateways, high-speed routers, switches, access multiplexers, cross-connect systems, add-drop multiplexers and digital loop carrier equipment.

To learn more, visit us at www.mindspeed.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include statements regarding the company's expectations, goals or intentions, including but not limited to, statements regarding expected levels of revenues, gross margin and operating expense and business unit strength and customer demand. These forward-looking statements are based on management's current expectations, estimates, forecasts and projections about the company and are subject to risks and uncertainties that could cause actual results and events to differ materially from those stated in the forward-looking statements. These risks and uncertainties include, but are not limited to: cash requirements and terms and availability of financing; future operating losses; worldwide political and economic uncertainties, and specific conditions in the markets we address; fluctuations in the price of our common stock and our operating results; loss of or diminished demand from one or more key customers or distributors; our ability to attract and retain qualified personnel; constraints in the supply of wafers and other product components from our third-party manufacturers; doing business internationally; pricing pressures and other competitive factors; successful development and introduction of new products; our ability to successfully and cost effectively establish and manage operations in foreign jurisdictions; industry consolidation; order and shipment uncertainty; our ability to obtain design wins and develop revenues from them; lengthy sales cycles; the expense of and our ability to defend our intellectual property against infringement claims by others; product defects and bugs; and business acquisitions and investments. Risks and uncertainties that could cause the company's actual results to differ from those set forth in any forward-looking statement are discussed in more detail under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's Quarterly Report on Form 10-Q for the quarter ended April 3, 2009, as well as similar disclosures in the company's subsequent SEC filings. Forward-looking statements contained in this press release are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Investor Relations:
    Andrea D. Williams
    Mindspeed Technologies, Inc.
    (949) 579-3111