SUNNYVALE, Calif., Sept. 21 /PRNewswire-FirstCall/ -- Advanced Analogic Technologies Incorporated (AnalogicTech) , a developer of power management semiconductors for mobile consumer electronic devices, today provided an updated outlook for the third quarter ended September 30, 2006, and the second half of 2006.
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Based upon preliminary data for the quarter ending September 30, 2006, AnalogicTech expects to report revenue of approximately $19 to $20 million, and a GAAP net loss of $0.04 to $0.06 per share. The company estimates gross profit margins in the third quarter to be 55% to 57% of revenue, which reflects a change in product mix. For the second half of 2006, AnalogicTech expects to report revenue of approximately $39 to $42 million, exclusive of any contribution from its pending acquisition of Analog Power Semiconductor Corporation (APSemi).
The company previously announced it expected third quarter revenue in the range of $22 to $24 million, and, on a GAAP basis, a net loss of $0.01 to net income of $0.01 per diluted share. For the second half of 2006, the company previously estimated revenue in the range of $51 to $54 million.
Results for the third quarter and the second half of 2006 are anticipated to be below previous expectations primarily due to lower sales in Korea and Taiwan and softness in the wireless handset market.
AnalogicTech will release full financial results for the third quarter on October 26, 2006, after the market closes and will host a conference call for analysts and investors to discuss the results at 5:00 p.m. Eastern Time. To participate in the live call, analysts and investors should dial (800) 218-9073 at least ten minutes prior to the call. AnalogicTech will also offer a live and archived webcast of the conference call, accessible from the company's investor relations website at http://www.aati.com/ or via the corporate website, http://www.analogictech.com/. A telephonic replay of the conference call will also be available until 11:59 p.m. Pacific Time on Monday, October 30, 2006, by dialing (800) 405-2236 and entering the passcode: 11072060#. Callers outside the U.S. and Canada may access the replay by dialing (303) 590-3000 and entering the passcode 11072060#.
About AnalogicTech
Advanced Analogic Technologies Incorporated (AnalogicTech) is a supplier of Total Power Management(TM) semiconductor solutions for mobile consumer electronic devices, such as wireless handsets, notebook and tablet computers, smartphones, digital cameras, wireless LAN, and personal media players. The company focuses its design and marketing efforts on the application-specific power management needs of consumer, communications, and computing applications in these rapidly evolving devices. AnalogicTech also develops and licenses device, process, package, and application-related technology. AnalogicTech is headquartered in Sunnyvale, California, with offices in South Korea, Taiwan, Hong Kong, Macau, Shanghai, Shenzhen, Beijing, Japan, Sweden, UK, and France, as well as a worldwide network of sales representatives and distributors. The company is listed on the NASDAQ exchange under the ticker symbol AATI. For more information, please visit the AnalogicTech website: http://www.analogictech.com/. (AnalogicTech - F)
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
Statements contained in this release that are not historical facts are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including financial projections and forecasts, involve risks and uncertainties that could cause AnalogicTech's actual results to differ materially from our current expectations. Factors that could cause AnalogicTech's results to differ materially from those set forth in these forward-looking statements include customers' cancellation or modification of their orders; our failure to accurately forecast demand for our products; the loss of, or a significant reduction in orders from, any of our significant customers; fluctuations in our operating results; our inability to develop and sell new products; defects in or failures of our products; the expense and uncertainty involved in our customer design-win efforts; the financial viability of the distributors of our products; consumer demand for cellular phones and other mobile consumer electronic devices; worldwide economic and political conditions, particularly in Asia; fluctuations in our costs to manufacture our products; our reliance on third parties to manufacture, test, assemble and ship our products; our ability to retain and attract key personnel; our ability to compete with our competitors; and our ability to protect our intellectual property rights and not infringe the intellectual property rights of others. Other factors that may cause our actual results to differ from those set forth in the forward- looking statements contained in this press release and that may affect our prospects in general are described in our filings with the Securities and Exchange Commission, including our Registration Statement on Form S-1 related to our initial public offering. AnalogicTech undertakes no obligation to update or revise forward-looking statements to reflect subsequent events or changed assumptions or circumstances.
NOTE: AnalogicTech and the AnalogicTech logo are trademarks of Advanced Analogic Technologies Incorporated. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders.
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