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Atmel Corporation Message Board

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  • encore7 encore7 Apr 20, 2000 1:23 AM Flag

    upgrades will lift us tomm

    With revenues hitting a record, Atmel plans to
    double spending to $1 billion
    Semiconductor Business
    News
    (04/19/00, 05:53:21 PM EDT)
    SAN JOSE -- Atmel Corp. here
    today joined the ranks of chip makers whose quarterly
    revenues have hit all-time highs, as it announced sales of
    $429.2 million in the first quarter, ended March 31.
    That was up 48% from a year ago, and up 10%
    sequentially.

    Atmel also said it plans to double its
    capital spending this year to meet demand. After raising
    over $600 million in a February stock offering, George
    Perlegos, president and CEO, said the company now plans to
    spend $1 billion on capacity expansion.

    Net
    income for the first quarter totaled $41.8 million, or
    19 cents per share on a fully diluted basis. Basic
    EPS for the quarter was 20 cents. In the previous
    quarter, the company reported net income of $33.0 million,
    or 16 cents per share.

    In last year's first
    quarter, Atmel's net was $16.7 million, or 9 cents per
    share before an exceptional charge for an accounting
    change. All results reflect the 2-for-1 stock split which
    took effect in December 1999.

    Perlegos noted
    that sales were particularly strong in high density
    Flash and BiCMOS ASICs aimed at the wireless
    telecommunications market. "We are particularly pleased with the
    remarkable strength in order demand for our Smart Card ICs,
    which is driven by the proliferation of wireless,
    e-commerce and Internet security applications," he said.
    "Business conditions remain robust across the board, and
    the improving demand and firm pricing over a
    wide
    range of products gives us confidence in continuing to
    grow our revenues and margins."

 
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