Silicon Image (NASDAQ:SIMGE)
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Silicon Image Comments on Ongoing Status of Filing Form 10-Q and Audit
Examination
SUNNYVALE, Calif., Jan. 7 /PRNewswire-FirstCall/ -- Silicon Image, , a leader
in multi-gigabit semiconductor solutions for the secure transmission and storage
of rich digital media, has been asked to comment about the ongoing status of the
filing of its Form 10-Q for the quarter ended September 30, 2003, the on-going
examination by its Audit Committee, and the currently scheduled date of January
27, 2004, for the release of financial results for the quarter and fiscal year
ended December 31, 2003.
Today, Silicon Image's Audit Committee issued the following statement: "The
examination being conducted by the Audit Committee of Silicon Image, with the
assistance of independent outside counsel and outside consultants, is not
completed, but continues to proceed at a deliberate pace. Because of the
thorough nature of the examination, it is impossible at this time to predict the
precise date of completion. Upon the completion of the examination, the Audit
Committee will provide its conclusions to the Company's external auditors for
their consideration in connection with their audit procedures. As previously
stated, until the process is concluded, the Audit Committee cannot predict
whether or not the items being examined will have any impact on Silicon Image's
historical financial statements or the results previously announced as of and
for the quarter ending September 30, 2003."
Because the Audit Committee cannot predict when this process will be completed
or what impact it may have on the Company's financial results, Silicon Image is
currently unable to predict whether or not it will be able to release financial
results on January 27, 2004, as previously announced. Upon completion of this
process, the Company will file its Form 10-Q for the quarter ended September 30,
2003, and announce financial results for the quarter and fiscal year ended
December 31, 2003.
The Company's primary focus during this examination is to continue to develop,
manufacture, sell and license semiconductor systems solutions and technology.
About Silicon Image
Headquartered in Sunnyvale, Calif., Silicon Image, Inc. designs, develops and
markets multi-gigabit semiconductor and system solutions for a variety of
communications applications demanding high-bandwidth capability. With its
proprietary Multi-layer Serial Link (MSL(TM)) architecture, Silicon Image is
well positioned for leadership in multiple mass markets including PCs, consumer
electronics and storage. Currently, Silicon Image leads the global PC/display
arena with its innovative digital interconnect technology, and is now emerging
as a leading player in the consumer electronics and storage markets-offering
robust, high-bandwidth semiconductors. For more information on Silicon Image,
visit http://www.siliconimage.com/
This news release contains forward-looking information within the meaning of
federal securities regulations. These forward-looking statements include
statements related to the timing and nature of the Audit Committee's examination
and related processes, the timing of announcement of financial results,
including the announcement of financial results for the quarter and fiscal year
ended December 31, 2003, and the timing of the filing of the Form 10-Q for the
quarter ending September 30, 2003. These forward-looking statements involve
risks and uncertainties, including those described from time to time in Silicon
Image's filings with the SEC, that could cause the actual results to differ
materially from those anticipated by these forward- looking statements. In
particular, the timing for the completion of the Audit Committee examination and
related processes and the outcome of such examination are unknown. Silicon
Image may not be able to announce financial results when expected, and the
timing for the filing of the Form 10-Q is unknown. Also see "Management's
Discussion and Analysis of Financial Condition and Results of Operations-Factors
Affecting Future Results" in the most recent Annual Report, Form 10-K or 10-Q
filed by Silicon Image with the SEC. Silicon Image assumes no obligation to
update this forward-looking information.
NOTE: Silicon Image, MSL and http://www.siliconimage.com/ are trademarks,
registered trademarks or service marks of Silicon Image, Inc. in the United
States and other countries.
DATASOURCE: Silicon Image, Inc.
CONTACT: Bob Gargus, Chief Financial Officer, Vice President, Finance
and Administration of Silicon Image, Inc., +1-408-616-4114, or,
+1-408-616-9531
Web site: http://www.siliconimage.com/