Second-Quarter Conference Call Scheduled
SANTA CLARA, Calif., Oct 13, 2011 (BUSINESS WIRE) --
GSI Technology, Inc. (Nasdaq: GSIT) announced today, that, on the
basis of preliminary financial results, the Company expects to report
net revenues of approximately $20.8 million for its second fiscal
quarter ended September 30, 2011. These estimated results compare to
guidance of $22.8 million to $23.8 million that the Company provided
early in the second quarter. GSI also reported that direct and indirect
sales to its largest customer, Cisco Systems, are expected to be
approximately $7.9 million, compared to $9.6 million in the previous
quarter, and that softness in demand from Asian OEM customers also
contributed to weaker-than-expected second-quarter sales.
The Company cautioned that these results are preliminary and subject to
change. The Company expects to release its second-quarter financial
results at the market close on Thursday, October 27, 2011. Management
will also conduct a conference call to review the Company's financial
results and its current business outlook.
Any investor or interested individual can listen to the teleconference,
which is scheduled to begin at 1:30 p.m. PDT (4:30 p.m. EDT) on
October 27, 2011. To participate in the teleconference, please call
toll-free 877-717-3046 (or 706-634-6364 for international calls)
approximately 10 minutes prior to the above start time and provide
Conference ID 18143841. You may also listen to the teleconference live
via the Internet at www.gsitechnology.com.
For those unable to attend, this web site will host an archive of the
About GSI Technology
Founded in 1995, GSI Technology, Inc. is a leading provider of
high-performance static random access memory, or SRAM, products
primarily incorporated in networking and telecommunications equipment.
Headquartered in Santa Clara, California, GSI Technology is ISO 9001
certified and has worldwide factory and sales locations. For more
information, please visit www.gsitechnology.com.
This press release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended. All forward-looking statements included in this press release
are based upon information available to GSI Technology as of the date
hereof, and GSI Technology assumes no obligation to update any such
forward-looking statements. Forward-looking statements involve a variety
of risks and uncertainties, which could cause actual results to differ
materially from those projected. These risks include those associated
with the normal quarterly financial closing process, which could result
in adjustments to the preliminary second quarter financial results
contained in this release. Further information regarding other risks
relating to GSI Technology's business is contained in the Company's
filings with the Securities and Exchange Commission, including those
factors discussed under the caption "Risk Factors" in such filings.