AMI Semiconductor expects the transaction to close during the second calendar quarter and anticipates that it will be neutral to non-GAAP earnings per share in 2006.
In connection with the proposed acquisition, AMI Semiconductor and Starkey Laboratories, Inc. also intend to enter into a long-term supplier agreement whereby AMI Semiconductor will be the major supplier of silicon for Starkey Laboratories, Inc.'s hearing aids.
"We're very pleased with the prospects for this agreement, which will strengthen the relationship between the two companies," stated Robert Tong, AMI Semiconductor's senior vice president, medical and wireless group.
"Our agreement with AMI Semiconductor recognizes the strength of each company," stated Jerry Ruzicka, Starkey's president. "As a leader in Hearing Research, Starkey's application of current and future AMI Semiconductor technology will ensure new benefits to the hearing impaired community."
This information, as well as additional information from AMI Semiconductor's first quarter financial results conference call, is available on the AMI Semiconductor Investor Relations Web site at http://www.amis.com/investor_relations.
About Starkey Laboratories, Inc.
Headquartered in Eden Prairie, Minnesota, Starkey Laboratories, Inc. is a worldwide provider of comprehensive digital hearing systems, including custom and standard devices, protection products, instrumentation and unique business solutions. Founded in 1967, Starkey owns the Audibel, Micro-Tech, NuEar, Omni and Qualitone companies and operates facilities in 24 countries. Starkey is the recognized world leader in the design and development of innovative custom digital hearing instruments. For more information visit www.starkey.com.
About AMI Semiconductor
AMI Semiconductor (AMIS) is a leader in the design and manufacture of silicon solutions for the real world. As a widely recognized innovator in state-of-the-art integrated mixed-signal products and structured digital products, AMIS is committed to providing customers with the optimal value, quickest time-to-market semiconductor solutions. Offering unparalleled manufacturing flexibility and dedication to customer service, AMI Semiconductor operates globally with headquarters in Pocatello, Idaho, European corporate offices in Oudenaarde, Belgium, and a network of sales and design centers located in the key markets of the United States, Europe and the Asia Pacific region.
Forward-Looking Statements
Statements in this press release other than statements of historical fact are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements relating to the Company's intention to enter into an agreement to purchase select assets of Starkey Laboratories, Inc.'s design center. These forward-looking statements involve risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements. These risks include the potential that an agreement for the purchase of the assets may not be concluded and, even if such an agreement is concluded, conditions to closing the transaction may not be satisfied. The Company does not intend to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.
Contact:
AMI Semiconductor, Pocatello Investor Relations Contact Wade Olsen, 208-234-6045 Email Contact or Media Relations Contact Tamera Drake, 208-234-6890 Email Contact