SUNNYVALE, Calif., March 27 /PRNewswire-FirstCall/ -- SST (Silicon Storage Technology, Inc.) announced today that its revenue for the first quarter ending March 31, 2008 is expected to be between $77 and $80 million versus previous guidance of $83 to $93 million. Loss per share on a GAAP basis is expected to be between $0.06 and $0.10, versus previous guidance of a loss per share of between $0.03 and $0.10. The shortfall in revenue is primarily due to a push out of deliveries by several high-volume customers.
Conference Call Dial-in Information
SST will hold a conference call to discuss its financial results for the first quarter ending March 31, 2008 on April 29, 2008 at 1:30 p.m. PDT. Those wishing to participate in the conference should dial (888) 428-4480, international participants please dial (651) 291-5254, using the password "SST" at approximately 1:20 p.m. PDT. A replay of the call will be available for one week by dialing (800) 475-6701, international participants dial (320) 365-3844, using the access code 917315. A Web cast replay of the conference call will be available until the next earnings conference call on the company's Web site at http://www.sst.com/events.
About Silicon Storage Technology, Inc.
Headquartered in Sunnyvale, California, SST designs, manufactures and markets a diversified range of memory and non-memory products for high volume applications in the digital consumer, networking, wireless communications and Internet computing markets. Leveraging its proprietary, patented SuperFlash technology, SST is a leading provider of nonvolatile memory solutions with product families that include various densities of high functionality flash memory components and flash mass storage products. The Company also offers its SuperFlash technology for embedded applications through its broad network of world-class manufacturing partners and technology licensees, including TSMC, which offers it under its trademark Emb-FLASH. SST's non-memory products include NAND controller-based products, smart card ICs and modules, flash microcontrollers and radio frequency ICs and modules. Further information on SST can be found on the company's Web site at http://www.sst.com/.
Forward-Looking Statements
Except for the historical information contained herein, this news release contains forward-looking statements regarding flash memory and non-memory market conditions and SST's expected financial performance for the first quarter ending March 31, 2008 that involve risks and uncertainties. These risks may include timely development, acceptance and pricing of new products, the terms and conditions associated with licensees' royalty payments, the impact of competitive products and pricing, and general economic conditions as they affect SST's customers, as well as other risks detailed from time to time in the Company's periodic reports, including the Annual Report on Form 10-K for the year ended December 31, 2007. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, SST disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.
For more information about SST and the company's comprehensive list of product offerings, please call 1-888/SST-CHIP. Information can also be requested via email to literature@sst.com or through SST's Web site at http://www.sst.com/. SST's head office is located at 1171 Sonora Court, Sunnyvale, Calif.; telephone: 408/735-9110; fax: 408/735-9036.
The SST logo and SuperFlash are registered trademarks of Silicon Storage Technology, Inc. All other trademarks or registered trademarks are the property of their respective holders.
For More Information Contact:
Jim Boyd
Senior Vice President & Chief Financial Officer
Silicon Storage Technology, Inc.
(408) 735-9110
Leslie Green
Green Communications Consulting, LLC
(650) 312-9060
Silicon Storage Technology, Inc.
