Product category: Memory Devices and Modules
News Release from: Spansion
Edited by the Electronicstalk Editorial Team on 23 April 2007
Flash memory maker
increases sales and lossess
A leading Flash-memory specialist has released Q1 results showing sales up by 12% and net losses up by 44% compared with last year's figures
Flash memory specialist Spansion has announced its first-quarter 2007 results. For the quarter ended 1st April, 2007, the company reported net sales of US $628 million, an increase of 12% over net sales of $562 million for the first quarter of 2006. MirrorBit ORNAND product sales for the high-end multimedia wireless segment totaled $60 million for the quarter and the company recognised its first revenue from its 4 bit/cell technology, MirrorBit Quad.
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During the first quarter of 2007, Spansion successfully increased bit shipments sequentially and extended its lead on its closest competitor.
ASP per bit decline in the first quarter was greater than the average seasonal patterns and higher than the company expected due to the intense competitive environment in the industry, contributing to a sequential quarterly total net sales decrease of 8.7%.
Net loss for the first quarter of 2007 was $75 million, or $0.56 per share, compared with a net loss of $52 million, or $0.40 per share, in the first quarter of 2006.
Further reading
Variety of Flash memory types on a single chip
MirrorBit Eclipse architecture combines MirrorBit NOR, ORNAND and quad Flash memory on a single die, enabling smart mobile phones and multimedia portable devices with high performance and lower costs
'I believe Spansion gained share within a difficult pricing environment while accelerating the acceptance of new, more cost-effective technologies by its key customers', says Bertrand Cambou, President and CEO, Spansion 'Looking forward, we are intensifying our cost-reduction efforts, including our aggressive manufacturing ramp to advanced technologies'.
During the quarter, Spansion converted many of its key customers to advanced technologies, including 90nm MirrorBit technology, which will lower cost per bit in the second quarter of 2007 and beyond.
The company plans 90nm MirrorBit sales to grow from 12% of net sales in the first quarter of 2007 to approximately 25% in the second quarter of 2007.
In response to market conditions, the company will undertake large scale cost-cutting measures designed to improve overall financial performance.
Those actions include the sale of nonperforming assets, the consolidation of certain functional operations and other activities related to reducing expenses.
The company's goal is to reduce 2007 planned expenses by approximately $50 million to $100 million.
Spansion has just started initial 65nm 300mm wafers at its SP1 facility, six months ahead of schedule.
With 300mm 65nm revenue now planned for the second half of 2007, Spansion hopes to be the first leading NOR Flash supplier producing Flash memory devices on 300mm wafers.
Spansion has also produced 45nm silicon on 300mm wafers at its Submicron Development Centre, with volume production at SP1 scheduled for mid-2008.
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