Montage Technology Announces Preliminary First Quarter Revenue Results Exceeding Guidance
01 April 2014 - 12:10AM
Montage Technology Group Limited (Nasdaq:MONT) ("Montage
Technology" or "Montage" or the "Company"), a global fabless
provider of analog and mixed-signal semiconductor solutions
addressing the home entertainment and cloud computing markets,
today announced preliminary revenue results for the first quarter
2014 of $34.5 to $36.5 million, exceeding the previously announced
guidance of $29.0 to $32.0 million.
The increased revenue expectations reflect higher sales of
Montage's memory interface solutions due to growing demand for
LRDIMMs. As a result, memory interface revenue is expected to
increase more than 60 percent sequentially. Gross margin for the
first quarter 2014 is expected to be above the previously announced
guidance range of 60 percent to 62 percent.
About Montage Technology
Montage Technology is a global fabless provider of analog and
mixed-signal semiconductor solutions currently addressing the home
entertainment and cloud computing markets. In the home
entertainment market, Montage's technology platform enables the
company to design highly integrated end-to-end solutions with
customized software for set-top boxes. These solutions optimize
signal processing performance under demanding operating conditions
typically found in emerging market environments. In the cloud
computing market, Montage offers high performance, low power memory
interface solutions that enable memory intensive server
applications. Its technology platform approach allows Montage to
provide integrated solutions that meet the expanding needs of
customers through continuous innovation, efficient design and rapid
product development. For more information regarding Montage, please
visit the company's website at www.montage-tech.com.
Forward Looking Statements
This press release contains forward-looking statements regarding
our future business expectations, including our revenue estimates
for the first quarter of 2014, which are subject to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are only predictions and may
differ materially from actual results due to a variety of factors
including: our ability to sustain recent revenue growth rates; our
ability to address the evolving nature of the market for
semiconductor solutions; our ability to develop and maintain
relationships with industry and technology leaders, including the
largest OEMs; our ability to manage our future growth; and
Montage's ability to continue to gain market share with its
existing products as well as newly released products in both the
set-top box and memory interface markets. These and other potential
risks and uncertainties that could cause actual results to differ
from the results predicted are more fully detailed under the
caption "Risk Factors" in our final prospectus filed with the SEC
on January 31, 2014, which is available on our Investor Relations
website at www.montage-tech.com and on the SEC website at
www.sec.gov. In addition, please note that any forward-looking
statements contained herein are based on assumptions that we
believe to be reasonable as of the date of this press release. We
undertake no obligation to update these statements as a result of
new information or future events except if required by law.
Company
Contact: |
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Montage Technology |
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Mark Voll, CFO |
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P: 408-982-2780 or
86-21-6128-5678 x8618 |
E: ir@montage-tech.com |
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Investor Relations
Contact: |
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Shelton Group |
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Leanne Sievers, EVP |
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P: 949-224-3874 |
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E: lsievers@sheltongroup.com |
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Matt Kreps, Managing
Director |
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P: 972-239-5119 ext. 125 |
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E: mkreps@sheltongroup.com |
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