Silicon Image (NASDAQ:SIMGE)
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Silicon Image Raises Q1 2004 Guidance
SUNNYVALE, Calif., April 1 /PRNewswire-FirstCall/ -- Silicon Image, Inc. , a
leader in multi-gigabit semiconductor solutions for the secure transmission and
storage of rich digital media, announced today that it would exceed its prior
guidance for the first quarter ending March 31, 2004. The company expects first
quarter revenues to grow 14-17 percent sequentially, versus 6-9 percent, as
stated in its prior guidance.
Commenting on the revenue growth, Silicon Image Chief Financial Officer, Bob
Gargus, stated, "All three lines of business are exceeding the high-end of the
guidance we set in our prior earnings call. In addition, orders continue at
record levels and we expect second quarterrevenues to grow by 5-10%
sequentially over the raised first quarter results." Additional details on the
quarter's performance and future guidance will be provided during the Company's
regularly scheduled earnings call on April 20, 2004.
Chief Executive Officer, David Lee, added, "We are pleased that both our IC
solutions and IP licensing business continue to experience strong market
acceptance and solid revenue growth, as we focus on making innovative technology
advances to our standards-leading products."
The company will host a conference call at 2:00 p.m. PST April 20, to discuss
its first quarter 2004 results and business outlook. The call will be broadcast
over the Internet and can be accessed on the investor relations site located at
http://www.siliconimage.com/.
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-bandwidthcapability. 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, storage and networking. 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 storage industry-offering robust,
high-bandwidth semiconductors and systems. 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 future financial results. These forward-looking statements
involve risks and uncertainties that could cause actual results to differ
materially from those anticipated by these forward-looking statements. In
particular, future demand in PC, display, consumer electronics and storage
markets may differ from current expectations, adversely affecting expected
future results for the company. In addition, see "Management's Discussion and
Analysis of Financial Condition and Results of Operations - Factors Affecting
Future Results" in the most recent Annual Report on Form 10-K 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: Robert Gargus, Chief Financial Officer of Silicon Image, Inc.,
+1-408-616-4114, or fax, +1-408-830-9531
Web site: http://www.siliconimage.com/