www.amcc.com
Applied Micro Circuits Corporation
Updates Business Outlook for the Quarter Ending September 2004
SAN DIEGO—September 23, 2004--Applied Micro Circuits Corporation [NASDAQ: AMCC] today announced that it expects revenues for the September 2004 quarter to be in the range of $61 million to $62 million. This range represents a sequential decline of approximately 9% from the previous quarter’s revenues of $67.4 million.
Tom Tullie, AMCC’s chief operating officer, said, “We believe that the revenue decline is due to two primary factors. First, we’ve experienced lower-than-expected orders from several of our key customers who are adjusting their own inventories. Secondly, we’ve seen some softness in our Asia revenue primarily due to reduced demand in China’s end markets.”
AMCC’s management will provide more information regarding the Company’s operating performance for the September 2004 quarter during the Company’s regularly scheduled conference call in October 2004.
About AMCC
AMCC provides the essential building blocks for the processing, moving and storing of information worldwide. The company blends systems and software expertise with high-performance, high-bandwidth silicon integration to deliver silicon, hardware and software solutions for global wide area networks (WAN), embedded applications, storage area networks (SAN), and high-growth storage markets such as Serial ATA (SATA) RAID. AMCC's corporate headquarters are located in San Diego, California. Sales and engineering offices are located throughout the world. For further information regarding AMCC, please visit our web site at
http://www.amcc.com.
This news release contains forward-looking statements, including statements regarding the estimated revenues for the September 2004 quarter, that are subject to certain risks and uncertainties, including, but not limited to, customer demand for the Company’s products, the businesses of the Company’s major customers, reductions, rescheduling or cancellation of orders by the Company’s customers, successful and timely development of products, integration of acquired businesses, market acceptance of new products, manufacturing constraints and execution and general economic conditions. More information about potential factors that could affect the Company’s business and financial results is included in the “Risk Factors” set forth in the Company’s Annual Report on Form 10-K for the year ended March 31, 2004, and the Company’s other filings with the Securities and Exchange Commission. Actual results could differ materially, as a result of such factors, from those set forth in the forward-looking statements.
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Enviado: 25/9/2004 4:55