Spectra7 Microsystems Inc.
TSX VENTURE : SEV

Spectra7 Microsystems Inc.

November 11, 2013 09:15 ET

Spectra7 Reports Financial Results for the Three and Twelve Months Ended September 30, 2013

Continues Trend of High Gross Product Margins

TORONTO, ONTARIO and PALO ALTO, CALIFORNIA--(Marketwired - Nov. 11, 2013) - Spectra7 Microsystems Inc. ("Spectra7" or the "Company") (TSX VENTURE:SEV), a high performance analog semiconductor company delivering unprecedented speed, resolution and signal fidelity to consumer and wireless infrastructure products, today announced its unaudited financial results for the three and twelve months ended September 30, 2013. Unless otherwise indicated, all references to dollar amounts herein are in U.S. dollars.

The Company's quarterly revenues for the three month period were $0.6 million with a gross margin of 69%. During the quarter, the Company announced a strategic collaboration with PureWave Networks to incorporate the Company's ActiveDX™ active silicon duplexer into high performance small cell applications. Small cells enable mobile internet connectivity platforms having a fraction of the size of traditional "cell towers". The Company's proprietary methodology and semiconductors will be utilized to reduce existing base station electromechanical assemblies into ultra small silicon.

The Company also announced two new products during and shortly after the end of the quarter, the CC7000 and VR7100, serving the consumer / second screen and virtual reality markets, respectively.

The CC7000 is capable of delivering deep color and 60 frames per second video for true, real-time 1080p HD or 4K Ultra HD TV at an optimal viewing distance. The CC7000's patented chip technology leverages the Company's high-speed, active signal processing without requiring any external power source while running at up to 18 Gbps. The chip is designed to enable ultra-thin and extended connectivity amongst existing HDMI 1.4b and next generation HDMI 2.0 devices.

The VR7100, announced shortly after quarter end, enables virtual reality technology to cross the chasm into mainstream adoption by delivering the ultra-high image resolution and miniaturization required for wearable computing.

"We continue to add new and compelling products to our portfolio as we evolve our business model, resulting in strong gross margins," commented Tony Stelliga, CEO of Spectra7. "Our strategy of developing products with a launch partner is fundamental in maintaining these margins and accelerating market acceptance."

The Company's unaudited interim financial report for the three and twelve months ended September 30, 2013 is available on the Spectra7 website at www.spectra7.com or SEDAR at www.sedar.com.

ABOUT SPECTRA7 MICROSYSTEMS INC.

Spectra7 Microsystems Inc. is a high performance analog semiconductor company delivering unprecedented speed, resolution and signal fidelity to consumer and wireless infrastructure products. Spectra7's new system-level components address throughput bottlenecks and satisfy the exponential demand for more bandwidth and lower costs in mobile and internet infrastructure equipment, including handsets, tablets, base stations and microwave backhaul systems. Spectra7 is headquartered in Markham, Ontario with development centers in Silicon Valley, Irvine, California and Cork, Ireland. For more information, please visit www.spectra7.com.

Certain information in this news release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Spectra7 assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Spectra7. Additional information identifying risks and uncertainties is contained in Spectra7's filings with the Canadian securities regulators available at www.sedar.com.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

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