LSI Logic Raises Q1 2005 Revenue Range
Storage Components and Consumer Lead Sales Growth
MILPITAS, Calif., March 14, 2005 – LSI Logic Corporation (NYSE: LSI) today increased its first quarter 2005 revenue guidance to a range of $420 million to $435 million. LSI Logic previously forecasted first quarter revenue in the range of $400 million to $415 million.
“Strength in both Consumer and Storage Components, driven by new products and an early end of the supply chain inventory correction, contributed to the raising of our first quarter revenue guidance,” said Wilfred J. Corrigan, LSI Logic chairman and chief executive officer. ”In Consumer, secular growth is being led by the DVD recorder market and the ramp of new digital audio products, mitigating usual first quarter consumer seasonality.”
LSI Logic will not hold a conference call today about this news release. The company will report its first quarter financial results, provide its second quarter 2005 business outlook and hold its quarterly conference call on Wednesday, April 27, 2005.
Notwithstanding this news release, it continues to be the company's policy to not comment on financial analyst estimates or to provide periodic financial guidance updates.
Safe Harbor for Forward Looking Statements: This news release includes preliminary financial estimates and forward-looking statements, which include the following: the company's updated estimates of revenues for the first quarter of 2005. These forward-looking statements are based on the opinions and estimates of management at the time the statements are made and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Factors that could cause LSI Logic's actual results to differ materially from those set forth in the forward-looking statements include, but are not limited to: receipt of additional information impacting the company's first quarter results; further analysis of revenues for the first quarter; the strength of the global semiconductor industry and the timing and volumes of customer demand. For additional information, readers are referred to the risk factors contained in the documents filed by LSI Logic with the SEC, and specifically the most recent reports on Form 10-K, 10-Q and 8-K.
