12/22/2003 - SST (Silicon Storage Technology, Inc.) (Nasdaq: SSTI) announced that its revenue in the fourth quarter is expected to increase 22 to 25 percent from the third quarter, versus previous guidance of an increase of 15 to 20 percent. The better than previously expected revenue is the result of average selling price improvement, increased product shipment and licensing income. Gross margin is expected to be in the range of 29 and 32 percent, versus previous guidance of between 26 and 29 percent. Earning per share is expected to be between $0.05 and $0.07, versus previous guidance of between $0.01 and $0.03.
"The recovery of our business that began in the third quarter has continued its momentum so far this quarter," said Bing Yeh, president and CEO. "Product shipments and booking activities have been very strong. Due to the extended lead-time of our high-demand products, we expect further improvement in our average selling price."
About Silicon Storage Technology, Inc.
Headquartered in Sunnyvale, California, SST designs, manufactures and markets a diversified range of nonvolatile memory solutions, based on proprietary, patented SuperFlash technology, for high volume applications in the digital consumer, networking, wireless communications and Internet computing markets. SST's product families include various densities of high functionality flash memory components, flash mass storage products and flash microcontrollers. SST also offers its SuperFlash technology for selective applications through its world-class manufacturing partners and technology licensees including 1st Silicon (Malaysia) Sdn. Bhd., Grace Semiconductor Manufacturing Corporation (Grace), IBM, Motorola, National Semiconductor, NEC Corporation, Oki Electric Industry Co. Ltd., Powerchip Semiconductor Corporation, Samsung Electronics Co. Ltd., SANYO Electric Co., Ltd., Seiko Epson Corp., Shanghai Hua Hong NEC Electronics Co., Ltd. (HHNEC), Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC), Toshiba Corporation, Vanguard International Semiconductor Corporation, and Winbond Electronics Corp. TSMC offers embedded SuperFlash under its trademark Emb-FLASH. Further information on SST can be found on the company's Web site at http://www.sst.com.
Except for the historical information contained herein, this news release contains forward-looking statements regarding flash memory market conditions, the companyís future financial performance, the performance of new products and the companyís ability to bring new products to market that involve risks and uncertainties. These risks may include changes in the flash memory market conditions, timely development, acceptance and pricing of new products, the terms and conditions associated with licenseesí royalty payments, the impact of competitive products and pricing, and general economic conditions as they affect the companyís customers, as well as other risks detailed from time to time in the companyís SEC reports, including the reports on Form 10-K for the year ended December 31, 2002 and on Form 10-Q for the quarters ended March 31, June 30, and September 30, 2003.
For more information about SST and the companyís comprehensive list of product offerings, please call 1-888/SST-CHIP. Information can also be requested via email to firstname.lastname@example.org or through SSTís Web site at http://www.sst.com. SSTís 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. Emb-FLASH is a trademark of TSMC.
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