This excerpt taken from the CAMD 8-K filed Aug 4, 2009.
Fiscal Q1 Highlights
Dickinson noted that the company made progress on a number of fronts during the quarter:
Dickinson added, As part of our ongoing effort to secure the best return for shareholders, we have decided to focus on our core protection business going forward. Because of the impact of the downturn on current demand and changes in customer product roadmaps, revenue from our display controller products has not lived up to our expectations. While there are significant new opportunities, they are unlikely to materialize soon enough to justify continued investment in this product line in the current environment. By cutting back in this area we will be able to return to positive cash flow and profitability more quickly without compromising the investment in the new protection products needed to strengthen our position in that market.
California Micro Devices Corporation 490 N. McCarthy Blvd. #100, Milpitas, CA 95035-5112
www.cmd.com Tel: 408.263-3214 Fax: 408.263-7846