GEORGE TOWN, Grand Cayman, June 29, 2012 (GLOBE NEWSWIRE) -- O2Micro® International Limited (Nasdaq:OIIM), a global leader in the design, development and marketing of high-performance integrated circuits and solutions, today revised its guidance for the second quarter of 2012. The company now expects its second quarter revenue to be in the range of $27.9 million to $28.5 million, versus previous guidance of $30.3 million to $31.8 million. In addition, gross margin for the second quarter is now expected to be 55% to 56%.
The reduction in anticipated revenue for the second quarter is primarily the result of broad-based weakness in demand in our end markets.
Sterling Du, Chairman and CEO of O2Micro, commented, "O2Micro is navigating broadly through lower demand in all of our end markets. We believe this is the result of broad-based economic weakness, coupled with excess inventory correction. Despite this challenging macro-economic environment, we are expecting growth in the latter half of 2012, primarily from our new product launches and expanding relationships with our partners and customers."
No conference call will be held in conjunction with this financial guidance update. Additional information will be available when the Company reports its second quarter 2012 results prior to market open on August 1, 2012.
Founded in April 1995, O2Micro develops and markets innovative power management and e-commerce components for the Computer, Consumer, Industrial, and Communications markets. Products include Intelligent Lighting, Battery Management, and Power Management.
O2Micro International maintains an extensive portfolio of intellectual property with 19,795 patent claims granted, and over 20,000 more pending. The company maintains offices worldwide. Additional company and product information can be found on the company website at www.o2Micro.com.
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O2Micro, the O2Micro logo, and combinations thereof are registered trademarks of O2Micro. All other trademarks or registered trademarks are the property of their respective owners.
Statements made in this release that are not historical, including statements regarding O2Micro's or management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. Factors that could cause actual results to differ materially include risks and uncertainties such as reduced demand for products of electronic equipment manufacturers which include O2Micro's products due to adverse economic conditions in general or specifically affecting O2Micro's markets, technical difficulties and delays in the developments process, and errors in the products. You are also referred to the Form F-1 in connection with the company's initial public offering in August 2000, Form F-3 in connection with the company's public offering in November 2001, and the annual reports on Form 20-F, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The company assumes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
CONTACT: Scott L. Anderson
Director of Investor Relations, O2Micro
Phone: 408.987.5920, x8888