Microsemi Awarded Its Largest USG Contract to Develop High-performance Integrated Circuits End Solution Will Leverage the Company's Broad Technology Portfolio and Capabilities
ALISO VIEJO, Calif., July 25, 2013 /PRNewswire/ -- Microsemi Corporation (Nasdaq: MSCC), a leading provider of semiconductor solutions differentiated by power, security, reliability and performance, today announced it has been awarded a development contract from the U.S. government to deliver a complex SoC solution. The company currently expects the contract to generate revenue immediately and over the next two years.
Microsemi's broad technology capabilities differentiated its offering from a competitive field of many of the industry's leading semiconductor suppliers, with Microsemi receiving top scores in a number of key areas. Leveraging the most comprehensive technology portfolio in the industry, Microsemi has expanded its market opportunity and the company continues to pursue contracts within similar domains.
"This design win validates Microsemi's total solutions initiative," stated Russ Garcia, Microsemi's executive vice president of worldwide marketing. "Microsemi's unique combination of technology and capabilities enabled us to deliver the winning proposal to one of the world's most demanding customers, the U.S. government. As we continue to advance our technology and capabilities portfolio we expect to continue to vigorously participate on platforms in the communications and defense markets."
Microsemi currently expects the initial award of $75 million will contribute to revenues over the next two years.
Microsemi Corporation (Nasdaq: MSCC) offers a comprehensive portfolio of semiconductor and system solutions for communications, defense & security, aerospace and industrial markets. Products include high-performance, radiation-hardened and highly reliable analog mixed-signal integrated circuits, FPGAs, SoCs and ASICs; power management products; timing and voice processing devices; RF solutions; discrete components; security technologies and scalable anti-tamper products; Power-over-Ethernet ICs and midspans; as well as custom design capabilities and services. Microsemi is headquartered in Aliso Viejo, Calif., and has approximately 3,000 employees globally. Learn more at www.microsemi.com.
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Microsemi Safe Harbor Statement
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in this news release that are not entirely historical and factual in nature, including without limitation statements related to its development contract from the U.S. government to deliver a complex SoC solution, and the initial award of $75 million to contribute to revenues over the next two years, and its potential effects on future business, are forward-looking statements. These forward-looking statements are based on our current expectations and are inherently subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. The potential risks and uncertainties include, but are not limited to, such factors as rapidly changing technology and product obsolescence, potential cost increases, variations in customer order preferences, weakness or competitive pricing environment of the marketplace, uncertain demand for and acceptance of the company's products, adverse circumstances in any of our end markets, results of in-process or planned development or marketing and promotional campaigns, difficulties foreseeing future demand, potential non-realization of expected orders or non-realization of backlog, product returns, product liability, and other potential unexpected business and economic conditions or adverse changes in current or expected industry conditions, difficulties and costs of protecting patents and other proprietary rights, inventory obsolescence and difficulties regarding customer qualification of products. In addition to these factors and any other factors mentioned elsewhere in this news release, the reader should refer as well to the factors, uncertainties or risks identified in the company's most recent Form 10-K and all subsequent Form 10-Q reports filed by Microsemi with the SEC. Additional risk factors may be identified from time to time in Microsemi's future filings. The forward-looking statements included in this release speak only as of the date hereof, and Microsemi does not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.
SOURCE Microsemi Corporation