EXHIBIT 99.1
Microsemi Announces 2 For 1 Stock Split
BusinessWire, Tuesday, July 31, 2001 at 16:45
IRVINE, Calif.--(BUSINESS WIRE)--July 31, 2001--
- -- Shareholders Approve Increase in Authorized Shares
- -- 2 For 1 Stock Split Declared
Microsemi Corp. (Nasdaq:MSCC) today announced that its stockholders approved the
proposed increase in the number of authorized shares of its Common Stock from 20
million to 100 million pursuant to written consents.
Based on this approval, the board of directors has declared a 2-for-1 stock
split to be effected by a dividend payable in shares of Common Stock.
The dividend is payable Aug. 28, 2001 to stockholders of record as of the close
of business on Aug. 14, 2001. Stockholders will receive one additional share of
Common Stock for every one share held on the record date. As a result of the
stock split, Microsemi's outstanding shares of Common Stock would increase from
14,072,286 (including 1,013 treasury shares), to 28,144,572 shares, estimated
based upon the currently outstanding shares.
About Microsemi
Microsemi is a leading designer, manufacturer and marketer of analog, mixed-
signal and discrete semiconductors. The company's semiconductors manage and
regulate power, protect against transient voltage spikes and transmit, receive
and amplify signals.
Microsemi products include individual components as well as complete circuit
solutions that enhance customer designs by providing battery optimization,
reducing size or protecting circuits. Markets the company serves include mobile
connectivity, computer/peripherals, telecommunications, medical,
industrial/commercial, space/satellite and military.
More information may be obtained by contacting the company directly or by
visiting its Web site at http://www.microsemi.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: Any statements set forth in the news release that are not entirely
historical and factual in nature are forward-looking statements. For instance,
all statements of belief and expectations are forward-looking statements.
Forward-looking statements are inherently subject to risks and uncertainties,
some of which cannot be predicted or quantified. Potential risks and
uncertainties include, but are not limited to, such factors as the difficulties
regarding the making of estimates and projections, hiring and retention of
qualified technical personnel in a competitive labor market, rapidly changing
technology and product obsolescence, the ability to realize cost savings or
productivity gains, the ability to improve capacity utilization, potential cost
increases, the strength and competitive pricing environment of the marketplace,
demand for and acceptance of the company's products, the results of planned
development, marketing and promotional campaigns, changes in demand for
products, difficulties of foreseeing future demand, effects of limited
visibility of future sales, potential non-realization of expected orders or non-
realization of backlog, business and economic conditions or adverse changes in
current industry conditions, customer order preferences, and fluctuations in
market prices of the company's stock, difficulties in implementing company
strategies, environmental matters, litigation, difficulties protecting
proprietary rights, and inventory obsolescence. In addition to these factors and
any other factors mentioned elsewhere in this news release, the reader should
refer as well to the factors, uncertainties and risks identified in the
company's most recent Form 10-K and
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the final prospectus on Form S-3 filed on June 1, 2000 by the company with the
Securities and Exchange Commission. The company does not undertake to supplement
or correct any information in this release that is or becomes incorrect.
Investor Inquiries: David R. Sonksen, Microsemi Corp., Irvine, Calif. 949/221-
7100.
CONTACT: Microsemi Corp., Irvine
David R. Sonksen, (Financial), 949/221-7101
or
Cliff Silver, (Editorial), 949/221-7100
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