SAN JOSE, CALIFORNIA — (Marketwired) — 11/06/17 — Spectra7 Microsystems Inc. (TSX: SEV) (“Spectra7” or the “Company”), a leading provider of high-performance analog semiconductor products for broadband connectivity markets, today announced its unaudited financial results for the three and nine months ended September 30, 2017. The unaudited consolidated financial statements for the three and nine months ended September 30, 2017 prepared in accordance with International Financial Reporting Standards and the corresponding management–s discussion and analysis will be available under the Company–s profile on . Unless otherwise indicated, all dollar amounts in this press release are expressed in US dollars.
Financial Highlights for the Quarter ended September 30, 2017
CEO Commentary
“I am happy to report that the supply chain issues we experienced in our third quarter have now been resolved”, said Raouf Halim, Spectra7–s CEO. “Bringing on board semiconductor industry veteran Antony Ng Yukshing should ensure smooth supply going forward. We continue to strengthen our supplier partnerships, improve our planning discipline, and minimize lead times, amongst other actions. Most importantly, we are regaining our customers– confidence as we ramp up our supply chain and fulfill their orders. We currently expect fourth quarter revenues to show strong sequential growth”.
Other Quarterly Highlights
Update on Data Center Market traction
Subsequent to Quarter-end
ABOUT SPECTRA7 MICROSYSTEMS INC.
Spectra7 Microsystems Inc. is a high performance analog semiconductor company delivering unprecedented bandwidth, speed and resolution to enable disruptive industrial design for leading electronics manufacturers in virtual reality, augmented reality, mixed reality, data centers and other connectivity markets. Spectra7 is based in San Jose, California with design centers in Markham, Ontario, Cork, Ireland, and Little Rock, Arkansas. For more information, please visit .
CAUTIONARY NOTES
Certain statements contained in this press release constitute “forward-looking statements”. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the Company–s future financial position and results of operations, strategy, proposed acquisitions, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company–s expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company–s annual MD&A for the year ended December 31, 2016. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.
Contacts:
Spectra7 Microsystems Inc.
Sean Peasgood
Investor Relations
416-565-2805
Spectra7 Microsystems Inc.
David Mier
Chief Financial Officer
669-284-3170
You must be logged in to post a comment Login