Microsemi Corporation and Monolithic Power Systems, Inc. Settle Patent Litigation
IRVINE, Calif. and LOS GATOS, Calif., Mar 27, 2006 (PRIMEZONE via COMTEX News Network) -- Microsemi Corporation ("Microsemi") (Nasdaq:MSCC) and Monolithic Power Systems, Inc. ("MPS") (Nasdaq:MPWRE) announced today that they have reached an amicable settlement of the patent infringement lawsuit brought by Microsemi in the United States District Court for the Central District of California. The action related to display lamp driver technologies used to illuminate electronic displays found in laptop and personal computers, automotive displays, and LCD TVs, as well as other liquid crystal display ("LCD") applications.
In the settlement, the terms of which are confidential, the companies agreed to dismiss all claims and counterclaims in the litigation with prejudice, and Microsemi agreed not to assert the four patents-in-suit against MPS or its customers in the future. Both MPS and Microsemi will continue to market their respective backlight inverter product lines. In addition, as a result of this agreement, the companies are exploring the possibility of a mutually beneficial cooperative business relationship.
About Microsemi Corporation
Microsemi is a leading designer, manufacturer and marketer of high performance analog and mixed signal integrated circuits and high reliability semiconductors. The company's semiconductors manage and control or regulate power, protect against transient voltage spikes and transmit, receive and amplify signals.
Microsemi's products include individual components as well as integrated circuit solutions that enhance customer designs by improving performance and reliability, battery optimization, reducing size or protecting circuits. The principal markets the company serves included implantable medical, defense/aerospace and satellite, notebook computers, monitors and LCD TVs, automotive and mobile connectivity applications. More information may be obtained by contacting the company directly or by visiting its web site at http://www.microsemi.com.
About Monolithic Power Systems, Inc.
Monolithic Power Systems, Inc. develops and markets proprietary, advanced analog and mixed-signal semiconductors. The company's advanced process technology and highly experienced analog designers provide high-performance power management integrated circuits (ICs) for Cold Cathode Fluorescent Lamp (CCFL) backlight controllers, LED drivers, DC to DC converters, and Power Amplifiers. MPS's products are widely used in computing and network communications products, LCD monitors and TVs, consumer electronics, and a wide variety of portable electronics products. MPS partners with world-class foundries to deliver high-quality, cost-effective solutions that consistently provide the highest performance solutions in the most compact packages. Founded in 1997 and headquartered in Los Gatos, California, the company has expanded its global presence with sales offices in Taiwan, China, Korea, and Japan, which operate under MPS International, Ltd.
PLEASE READ THE FOLLOWING FACTORS THAT CAN MATERIALLY AFFECT MICROSEMI'S FUTURE RESULTS.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in the news release that are not entirely historical and factual in nature are forward-looking statements. For instance, all statements of plans, beliefs, or expectations are forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Potential risks and uncertainties include, but are not limited to, such factors as changes in generally accepted accounting principles, the difficulties regarding the making of estimates and projections, in the hiring and retention of qualified personnel in a competitive labor market, of acquiring and integrating new operations or assets, or in closing or disposing of operations or assets, or possible difficulties in transferring work from one plant to another, or regarding rapidly changing technology and product obsolescence, difficulties predicting the timing and costs of plant closures, the potential inability to realize cost savings or productivity gains or other impediments to improving capacity utilization, potential cost increases, weakness or competitive pricing environment of the marketplace, uncertain demand for and acceptance of the company's products, unexpected results of in-process or planned development or marketing and promotional campaigns, changes in demand for products, difficulties foreseeing future demand, inventory adjustments by customers, customer order cancellations, effects of limited visibility of future sales, potential non-realization of expected orders or non-realization of backlog, product returns, product liability, and other potential adverse business and economic conditions or adverse changes in current or expected industry conditions, business disruptions, travel disruptions, embargoes, epidemics, disasters, wars or potential future effects of the tragic events of September 11, variations in customer order preferences, fluctuations in market prices of the company's common stock and potential unavailability of additional capital on favorable terms, difficulties in implementing company strategies, dealing with environmental matters, other regulatory matters, or any matters involving litigation, arbitration, or investigation, difficulties and costs imposed by law, including Section 404 of the Sarbanes-Oxley Act of 2002, difficulties in determining the scope of, and procuring and maintaining, adequate insurance coverage, difficulties, and costs of protecting patents and other proprietary rights, work stoppages, labor issues, inventory obsolescence, difficulties regarding customer qualification of products, manufacturing facilities and processes, and other difficulties managing consolidation or growth, including in the maintenance of internal controls, the implementation of information systems, and the training of personnel. In addition to these factors and any other factors mentioned elsewhere in this news release, the reader should refer as well to the factors, uncertainties or risks identified in the company's most recent Form 10-K and subsequent Form 10-Q Reports filed by Microsemi and MPS, respectively, with the SEC. Additional risk factors shall be identified from time to time in Microsemi's future filings. Microsemi does not undertake to supplement or correct any information in this release that is or becomes incorrect.
Investor Inquiries: David R. Sonksen, Microsemi Corporation, Irvine, CA (949) 221-7101. Rick Neely, Chief Financial Officer, Monolithic Power Systems, Los Gatos, CA (408) 357-6777.
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SOURCE: Microsemi Corporation
Microsemi Corporation
Financial:
David R. Sonksen, Executive Vice President and CFO
(949) 221-7101
Editorial:
Cliff Silver, Manager, Corporate Communications
(949) 221-7112
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