News Wire

Microsemi Updates on Flood Impact

ALISO VIEJO, Calif. — Microsemi Corporation (Nasdaq: MSCC), a leading provider of semiconductor solutions differentiated by power, security, reliability and performance, today updated expectations for the impact to its business as a result of the continued flooding in Thailand.

Ongoing flooding in the country has now forced a shutdown of Microsemi operations in a second facility in Thailand, just outside the capital city of Bangkok. With water levels still high, the company's operations in Ayutthaya, Thailand remain inoperative.

“The disaster in Thailand continues to negatively affect our operations in the region,” said James J. Peterson, Microsemi's president and chief executive officer. “With two of our subcontracted facilities in Thailand now shut down, we expect there will be some revenue effect in the current quarter and to a lesser extent the ensuing two to three quarters beyond. We remain focused on the safety of our team and the community as we are working on a recovery plan to identify solutions that ensure our customers' needs are met as soon as is safe and practicable.”

Microsemi is in the process of evaluating the revenue effect on the December quarter. The Ayutthaya and Bangkok facilities together can account for as much as 5 percent of total quarterly revenues.

Microsemi expects to discuss this topic on its upcoming earnings release call, scheduled for Nov. 10, 2011 at 1:45 p.m. Pacific Time.

{complink 3424|Microsemi Corp.}

0 comments on “Microsemi Updates on Flood Impact

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.