Pericom Semiconductor Announces Revised First Quarter Guidance

SAN JOSE, CA--(Marketwire - Sep 21, 2011) - Pericom Semiconductor Corporation (NASDAQ: PSEM), a worldwide supplier of high-speed integrated circuits and frequency control products, today revised guidance for the first quarter of fiscal 2012 ending October 1, 2011.

Pericom now expects sales to be $35.0 to $36.0 million compared to previous guidance of $38.0 to $41.5 million. Gross margins and operating expenses are not expected to differ significantly from the previous guidance.

"We are seeing greater slowdown of ordering due to distributor inventory reduction efforts than previously anticipated," commented Alex Hui, President and CEO of Pericom.

About Pericom

Pericom Semiconductor Corporation (NASDAQ: PSEM) enables serial connectivity with the industry's most complete solutions for the computing, communications and consumer market segments. Pericom's analog, digital and mixed-signal integrated circuits, along with its frequency control products are essential in the timing, switching, bridging and conditioning of high-speed signals required by today's ever-increasing speed and bandwidth demanding applications. Company headquarters is in San Jose, California, with design centers and technical sales and support offices globally. http://www.pericom.com.

Safe Harbor Statement

This press release contains forward-looking statements as defined under The Securities Litigation Reform Act of 1995. Forward-looking statements in this release include the statements regarding the anticipated revenues, gross margin, and operating expenses in the first fiscal quarter of 2012, and a statement from our CEO regarding inventory reduction efforts. The Company's actual results could differ materially from what is set forth in such forward-looking statements due to a variety of risk factors, including softness in demand for our products, price erosion for certain of our products, unexpected difficulties in developing new products, customer decisions to reduce inventory, economic or financial difficulties experienced by our customers, or technological and market changes. All forward-looking statements included in this document are made as of the date hereof, based on information available to the Company as of the date hereof, and Pericom assumes no obligation to update any forward-looking statements. Parties receiving this release are encouraged to review our annual report on Form 10-K for the year ended July 2, 2011, and in particular, the risk factors sections contained in that report.