IRVINE, Calif., Jul 14, 2010 (GlobeNewswire via COMTEX News Network) -- Microsemi Corporation (Nasdaq:MSCC), a leading manufacturer of high performance analog mixed-signal integrated circuits, high reliability semiconductors and RF subsystems, announced today that it has received a production order of approximately $22 million for customized GPS modules that utilize the proprietary anti-tamper process technology Microsemi added with its acquisition of White Electronic Designs Corporation in May.
The modules will be used on military platforms including missile guidance, secure radio communications and precision guided munitions designed with global positioning (GPS) capability. Weapon systems with GPS have the ability to strike fixed targets in all weather, day or night, while reducing the number of rounds expended and minimizing collateral damage. The anti-tamper features on these defense platforms prevent reverse engineering and other covert methods that could be used to gain access to sensitive data.
"We are pleased with this production contract won by our newly acquired division," said James J. Peterson, President and Chief Executive Officer of Microsemi. "It confirms our expectations of the anti-tamper technology that can be used in radio communications, precision guided munitions and missiles. The addition of this technology allows us to increase our presence in the military market with systems of higher complexity. It also will allow us to merge existing Microsemi high reliability technology with the advanced packaging techniques of our newly-acquired division, offering a higher level of system integration," he said.
Microsemi Corporation, with corporate headquarters in Irvine, California, is a leading designer, manufacturer and marketer of high performance analog and mixed-signal integrated circuits, high reliability semiconductors and RF subsystems. The company's semiconductors manage and control or regulate power, protect against transient voltage spikes and transmit, receive and amplify signals.
Microsemi's products include individual components as well as integrated circuit solutions that enhance customer designs by improving performance and reliability, battery optimization, reducing size or protecting circuits. The principal markets the company serves include implanted medical, defense/aerospace and satellite, notebook computers, monitors and LCD TVs, automotive and mobile connectivity applications. More information may be obtained by contacting the company directly or by visiting its website at http://www.microsemi.com.
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"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 concerning receipt of a production order of approximately $22 million for customized GPS modules that utilize the proprietary anti-tamper technology, 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.
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SOURCE: Microsemi Corporation
CONTACT: Microsemi Corporation Financial Contact: John Hohener, Executive Vice President and CFO Editorial Contact: Cliff Silver, Corporate Communications Manager (949) 221-7100
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