Exhibit 99.1
ISSI Revises Guidance for September 2004 Quarter
Schedules Quarterly Conference Call for October 28
SANTA CLARA, Calif., Sept. 20 /PRNewswire-FirstCall/ -- Integrated Silicon
Solution, Inc. (Nasdaq: ISSI), announced today that it expects its revenue and
earnings for the September 2004 quarter will be lower than the Company's
previous guidance provided on July 22, 2004. The Company now expects that
revenue for the September 2004 quarter will be in the range of approximately
$30 million to $33 million. Further, the Company expects to report a loss for
the quarter.
"The quarter began with a combination of too much inventory in the channel
and a seasonal slow down. We needed a strong second half of the quarter and
it just has not materialized," said Jimmy Lee, Chairman and CEO. "Because of
the slow down, average selling prices for our lower density SDRAMs have
dropped substantially from last quarter. This decline has hurt top line
revenue and squeezed gross margins. As a result, we will post a loss for the
quarter."
ISSI has scheduled its regularly held quarterly conference call for
Thursday, October 28, 2004 at 1:30 p.m. Pacific time to discuss the company's
financial results for the quarter ended September 30, 2004. To access ISSI's
conference call via telephone, dial 719-457-2692 by 1:20 p.m. Pacific time on
October 28. If you plan to participate in the call, please RSVP either by
telephone at 408-969-4774, or by email to ir@issi.com. The call will be
webcast from ISSI's website at www.issi.com. No separate conference call will
be held in conjunction with today's release.
About ISSI
ISSI is a fabless semiconductor company that designs and markets high
performance integrated circuits for the following key markets: (i) digital
consumer electronics, (ii) networking, (iii) mobile communications and (iv)
automotive electronics. The Company's primary products are high speed and low
power SRAM and low and medium density DRAM. The Company also designs and
markets EEPROM, SmartCards and is developing selected non-memory products
focused on its key markets. ISSI is headquartered in Silicon Valley with
worldwide offices in China, Europe, Hong Kong, India, Korea and Taiwan. Visit
our web site at www.issi.com.
Safe Harbor Statement
The statements in this press release regarding our estimated September
2004 quarter revenue, earnings/loss, and average selling prices are
forward-looking statements that are subject to risks. Actual results may
differ materially from current expectations due to many factors, including
adverse changes in market conditions, further reductions in average selling
prices, reductions in book value of the inventory, the Company's inability to
effectively reduce expenses, manufacturing yields, order cancellations, order
rescheduling, decreasing demand, product warranty claims, competition, the
level and value of inventory held by OEM customers or the Company, completion
of financial statements for the September 2004 quarter and fiscal year end, or
other factors. Stockholders of ISSI are cautioned not to place undue reliance
on our forward-looking statements, which speak only as of the date such
statements are made. ISSI does not undertake any obligation to publicly
update any forward-looking statements to reflect events, circumstances, or new
information after this September 20, 2004 press release, or to reflect the
occurrence of unanticipated events. Further information that could affect the
Company's results is detailed in ISSI's periodic filings with the Securities
and Exchange Commission, including its Annual Report on Form 10K for the
fiscal year ended September 30, 2003 and its Quarterly Report for the fiscal
quarter ended June 30, 2004.
SOURCE Integrated Silicon Solution, Inc.
-0- 09/20/2004
/CONTACT: Suzanne Weaver, Investor Relations, +1-408-969-4774, or Gary L.
Fischer, President & COO, +1-408-969-4612, both of Integrated Silicon
Solution, Inc., ir@issi.com/
/Web site: http://www.issi.com /
(ISSI)
CO: Integrated Silicon Solution, Inc.
ST: California
IN: CPR SEM CSE
SU: CCA