1/6/2012
SHELTON, CT - January 6, 2012 ? TranSwitch Corporation
(NASDAQ: TXCC), a leading provider of semiconductor
solutions for the converging voice, data and video network,
today announced that it now expects its fourth quarter 2011
revenue to be roughly $6.3 million compared to
the guidance provided on November 1, 2011 of roughly $7
million principally due to a contractual dispute on a
service agreement with a North America customer. The
Company expects to report complete fourth quarter and full
year 2011 financial results in early February 2012 and will
announce details when they are available.
"We continue to make progress on our strategic plan of
creating value through innovative products for HD
multimedia connectivity and processing," said Dr. M. Ali
Khatibzadeh, President & CEO of TranSwitch. "With the
introduction of HDwire?, the fastest video transport
technology for flat-panel displays, TranSwitch
substantially increases its addressable market."
Separately, on December 28, 2011 the company
entered into an amendment to its sublease agreement with an
unaffiliated company to sublease 92,880 square feet of
office space located in Shelton, Connecticut. The
sublease agreement amendment extends the sublease through
May 2017. As a result of this amendment,
TranSwitch expects to reverse approximately $7.0 million of
its previously accrued restructuring liability during the
fourth quarter of 2011.
Forward-looking statements in this release, including
statements regarding management's expectations for
future financial results and the markets for
TranSwitch's products, are made pursuant to the safe
harbor provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that these
forward-looking statements regarding TranSwitch, its
operations and its financial results ,involve risks and
uncertainties that could cause actual results to differ
materially from those contained in the forward-looking
statements, including without limitation the risks
associated with acquiring new businesses; the risk of
downturns in economic conditions generally and in the
telecommunications and data communications markets and the
semiconductor industry specifically; risks in product
development and market acceptance of and demand for
TranSwitch's products and products developed by
TranSwitch's customers; risks relating to
TranSwitch's indebtedness; risks of failing to attract
and retain key managerial and technical personnel; risks
associated with foreign sales and high customer
concentration; risks associated with competition and
competitive pricing pressures; risks associated with
investing in new businesses; risks of dependence on
third-party VLSI fabrication facilities; risks related to
intellectual property rights and litigation; risks in
technology development and commercialization; and other
risks detailed in TranSwitch's filings with the
Securities and Exchange Commission.
TranSwitch expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to
any such statements to reflect any change in expectations
or any change in events, conditions or circumstances on
which any such statement is based.
TranSwitch is a registered trademark of TranSwitch
Corporation.
For more information contact:
Mary Lombardo
Investor Relations
Phone: 203/929-8810 ext.2254
TranSwitch Corporation to Present at the 14th Annual Needham Growth Conference on January 11, 2012
distribué par | Ce noodl a été diffusé par TranSwitch Corporation et initialement mise en ligne sur le site http://www.transwitch.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-06 22:37:37 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |