Ramtron Settles Product Defect Claim
- Press Release
- Source: Ramtron International Corporation
- On 8:30 am EDT, Wednesday September 9, 2009
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--U.S. semiconductor maker Ramtron International Corporation (Nasdaq:RMTR - News), the leading developer and supplier of nonvolatile ferroelectric random access memory (F-RAM) and integrated semiconductor products, announced today that it has entered into a Settlement Agreement and Mutual Release with one of its customers that resolves all matters related to the previously announced in-field failures of one of Ramtron’s semiconductor memory products.
As a result of the settlement and after an insurance reimbursement and a credit for future product deliveries, Ramtron will recognize a benefit of approximately $150,000 on its third-quarter income statement. Ramtron had previously recorded a charge of $815,000 in connection with the matter.
About Ramtron
Ramtron International Corporation, headquartered in Colorado Springs, Colorado, is a fabless semiconductor company that designs, develops and markets specialized semiconductor memory, microcontroller and integrated semiconductor solutions used in a wide range of product applications and markets.
Contact:
Ramtron International Corporation
Lee Brown, 719-481-7213
lee.brown@ramtron.com
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