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Pericom Semiconductor Continues Business Transition |
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San Jose, CA, 2005-02-23 - [Nasdaq National Market: PSEM] today announced additional cost reductions
as the
Company concludes its program to outsource more manufacturing to Asia
based subcontractors which will increase responsiveness and reduce cost.
Additionally,
seventeen months after the acquisition of SaRonix the integration is essentially
complete and efficiencies have been achieved
allowing for further expense reductions.
As a result of this action, the company expects to reduce costs in excess of
$1.2 million annually while
reducing its workforce by about 25 employees. The
company will take a restructuring charge in the March 2005 quarter of up to
$250,000 to
cover severance and other costs related to the transition.
Alex Hui, President and CEO of Pericom said, "This marks the conclusion
of
our program to migrate volume manufacturing activities offshore. We have
also realized additional cost savings associated with the completed
integration
of SaRonix after consolidating to a single Enterprise Information Technology
system. We have also re-aligned our sales and marketing
organizations to drive
and support planned shifts in our product mix and expansion of our served markets.
We will selectively add resources as
necessary to staff the organization to
execute our strategy. We view these activities as necessary and positive refinements
to our on-going
program addressing how we best serve our global customer base." |
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About Pericom
Pericom Semiconductor Corporation (NASDAQ: PSEM) enables serial connectivity with the industry's most complete solutions for the computing, communications and consumer market segments. Pericom's analog, digital and mixed-signal integrated circuits, along with its SaRonix-eCera frequency control products are essential in the timing, switching, bridging and conditioning of high-speed signals required by today's ever-increasing speed and bandwidth demanding applications. Company headquarters are in San Jose, Calif., with design centers and technical sales and support offices globally.
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