Atmel Corp's (ATML) Prelim. Q4 Results Fall Short of Consensus
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January 13, 2016 5:30 PM EST
SAN JOSE, Calif., Jan. 13, 2016 /PRNewswire/ -- Atmel® Corporation (NASDAQ: ATML), a leader in microcontroller and touch solutions, today announced that it expects the following fourth quarter 2015 results:
Revenue is expected to be between $261 and $262 million, compared to the original outlook of $266 to $286 million. The lower revenue was the result of weaker than expected billings, primarily in Asia, as distributors reduced inventory levels due to uncertainties associated with the company's ongoing acquisition process. Revenue would have been approximately $268 million had revenue from the Asian distribution channel been recognized...
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January 13, 2016 8:30 AM EST
SAN JOSE, Calif., Jan. 13, 2016 /PRNewswire/ -- Atmel® Corporation (Nasdaq: ATML), a leader in microcontroller and touch solutions, today announced that its Board of Directors has determined that the unsolicited acquisition proposal received from Microchip Technology Inc. (Nasdaq: MCHP) constitutes a "Company Superior Proposal," as defined in Atmel's existing merger agreement with Dialog Semiconductor plc (XTRA: DLG). In connection with that determination, Microchip has delivered a binding acquisition agreement subject solely to acceptance by Atmel of the terms thereof. The binding... More
