Xicor Provides Mid-Fourth-Quarter Update
Xicor Inc. (Milpitas, CA) reiterated guidance regarding expected pro-forma results for the fourth quarter of the company's fiscal year ended December 29, 2002. The company also outlined plans to accelerate its return to positive cash flow and profitability.
President and CEO Lou DiNardo stated, "We continue to enjoy substantial business in Asia in both cellular telephones as well as consumer electronics. We achieved growth as forecast in mixed-signal product sales in the second and third quarters of 2002. Our OEM bookings for the fourth quarter are expected to grow more than 20 percent versus the third quarter, and we expect a book-to-bill ratio of better than 1:1. While distribution business remains soft, particularly in North America, the improvement in OEM orders is an encouraging sign for us."