MILPITAS, California - June 18, 2002 -
California Micro Devices (Nasdaq: CAMD) today announced that Silicon Valley Bank (Nasdaq: SIVB) has agreed to provide a $5 million credit facility, which can be used for working capital equipment and capital equipment to support the company's future growth.
"Silicon Valley Bank understands the growth potential of our new business model as we now focus our ASIP™ and analog semiconductor solutions on the mobile, computing and LED lighting markets," said Ken Thornbrugh, CFO and VP of finance and administration for California Micro Devices. "We look forward to working closely with the Silicon Valley Bank team as they provide the financing we will need to meet the increased demand for our products." "We are impressed with the changes that Bob Dickinson, the CEO of California Micro Devices, and his team have initiated over the past year," said Tom Smith, senior relationship manager of Silicon Valley Bank's South Bay region. The company's designs win momentum, and bookings growth over the past several quarters point to the positive impact of these changes on its operations. We look forward to supporting the company's strategy to return to growth and profitability." About Silicon Valley Bank
Silicon Valley Bank serves emerging growth and middle market companies in targeted niches, focusing on technology and life sciences, while also addressing other specific industries in which it can provide a higher level of service and better manage credit through specialization and focus. More information on the Bank can be found at www.svb.com
. About California Micro Devices Corporation
California Micro Devices Corporation is a leading supplier of Application Specific Integrated Passive (ASIP) devices and related analog semiconductors. Within the company's broad product line are highly integrated solutions that ensure signal integrity, EMI (electromagnetic interference) filtering, ESD (electrostatic discharge) protection, and smart power management for a broad spectrum of computing, mobile, consumer, lighting, and medical applications. Detailed corporate and product information may be accessed at www.calmicro.com
.All statements contained in this press release that are not historical facts are forward-looking statements. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. They are not historical facts or guarantees of future performance or events. Rather, they are based on current expectations, estimates, beliefs, assumptions, and goals and objectives and are subject to uncertainties that are difficult to predict. As a result, CAMD's actual results may differ materially from the statements made. Often such statements can be identified by their use of words such as will, intends, expects, plans, believes, anticipates, expects, and estimates. Forward-looking statements made in this release include that demand for CAMD products will increase in the future, that CAMD operations will be positively impacted by design wins and bookings, and CAMD's strategy to grow and become profitable. These forward-looking statements are based upon CAMD's assumptions about and assessment of the future, which may or may not prove true, and involve a number of risks and uncertainties including, but not limited to, CAMD's ability to increase its market penetration, future growth of the markets for CAMD's products, that design wins and bookings will translate into orders, that product demand combined with little price erosion will cause CAMD revenues to increase, that CAMD gross margin will increase, and that CAMD third party vendor will be able to make product without yield issues to satisfy product demand, as well as other risk factors detailed in the CAMD's Form 8K, 10K, and 10Q filings with the Securities and Exchange Commission. Due to these and other risks, CAMD's future actual results could differ materially from those discussed above. These forward-looking statements speak only as to the date of this release, and, except as required by law, CAMD undertakes no obligation to publicly release updates or revisions to these statements whether as a result of new information, future events, or otherwise.
Jane Lodato, (408) 654-5599, email@example.com
California Micro Devices Contact:
Kenneth E. Thornbrugh, CFO, VP of Finance and Administration, 408-934-3197, firstname.lastname@example.org