3SOF

Profile:  

 
Spansion Inc.
915 DeGuigne Drive
Sunnyvale, CA 94085
United States - Map
Phone: 408-962-2500
Web Site: http://www.spansion.com

DETAILS  
Index Membership: N/A
Sector: Technology
Industry: Semiconductor- Memory Chips
Full Time Employees: 9,300


BUSINESS SUMMARY  
Spansion, Inc., a semiconductor device company, engages in designing, developing, manufacturing, marketing, and selling flash memory solutions worldwide. Its flash memory products are integrated into a range of electronic products, including mobile phones, consumer electronics, automotive electronics, networking and telecommunications equipment, and computer peripherals. The company markets and sells its products directly or through third-party distributors to Original equipment manufacturers, original design manufacturers, and contract manufacturers. The company was founded in 1993 and is headquartered in Sunnyvale, California. On March 1, 2009, Spansion Inc., along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the District of Delaware.

SUNNYVALE, Calif., March 23, 2009 /PRNewswire-FirstCall via COMTEX/ -- Spansion Inc. (SPSN, Trade) the world's largest pure-play provider of Flash memory solutions, today released its fourth quarter net sales results and issued its net sales outlook for the current fiscal quarter.

In the fiscal fourth-quarter ended December 31, 2008, net sales were $468 million. During the fiscal first quarter 2009, ending March 29, Spansion anticipates net sales of approximately $400 million, driven by sales in certain telecommunications and gaming segments as well as advance purchases from certain customers, offset by continued weakness in the overall economy during a quarter that is seasonally down compared to the fourth quarter.

"Despite a troubled economy, Spansion gained segment share in the fourth quarter while keeping average selling prices relatively stable," said John Kispert, Spansion president and CEO. "In addition, net sales in the first quarter are an indication of the continued customer demand for Spansion solutions."

The company also said it believes its chapter 11 cases are progressing well. The company also noted that it is looking forward to working closely with its creditors in the weeks and months ahead on a plan of reorganization for the company.

"The decisions we made to reduce costs were difficult, but necessary," Kispert said. "As a result of those actions, Spansion expects to meet its post-petition obligations, and is leveraging its global manufacturing facilities to meet customer demand. Spansion is experiencing relatively typical seasonal patterns during the first quarter and is conducting business as usual. We plan to continue to take the necessary actions to strengthen our cash position, to help enable Spansion to emerge from the Chapter 11 process as a stronger and more focused company."

As part of the restructuring process, Spansion also continues to pursue strategic alternatives and is in discussions with multiple companies regarding the potential sale of some or all of the company's assets.

The unaudited results for the fourth quarter 2008 and the outlook for the first quarter 2009 are preliminary and subject to change. For example, the company is currently conducting an impairment assessment of its fixed assets, goodwill and long-lived intangible assets. This ongoing assessment will result in material non-cash charges to the income statement and an associated reduction in the carrying values of the assets disclosed on the balance sheet. Final fourth quarter 2008 results will be provided in the company's Annual Report on Form 10-K to be filed with the U.S. Securities and Exchange Commission (SEC).

About Spansion

Spansion (SPSN, Trade) is a leading Flash memory solutions provider, dedicated to enabling, storing and protecting digital content in wireless, automotive, networking and consumer electronics applications. Spansion, previously a joint venture of AMD and Fujitsu, is the largest company in the world dedicated exclusively to designing, developing, manufacturing, marketing, selling and licensing Flash memory solutions. For more information, visit http://www.spansion.com.

Spansion(R), the Spansion logo, MirrorBit(R), MirrorBit(R) Eclipse(TM), ORNAND(TM), ORNAND2(TM), HD-SIM(TM), Spansion(R) EcoRAM(TM) and combinations thereof, are trademarks of Spansion LLC in the United States and other countries. Other names used are for informational purposes only and may be trademarks of their respective owners.

Cautionary Statement

This release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements, including statements related to expected net sales and customer demand for the first quarter of fiscal 2009; advanced purchases from customers; and Spansion's ability to gain segment share, meet customer demand and strengthen its cash position, involve risks and uncertainties that could cause actual results to differ materially from those statements. The risks and uncertainties related to Chapter 11 filings include: any negative impacts on Spansion's business, results of operations, financial position or cash management arrangements; the inability to freely deploy its cash resources throughout the company; the negative impact on relationships with employees, customers, suppliers and contract manufacturers and other stakeholders; the failure of Spansion to obtain initial court orders substantially on the terms applied for, including the approval of any DIP financing; the ability to successfully negotiate and obtain DIP financing; the adequacy of Spansion's cash on hand and DIP financing to fund its ongoing operations or ability to arrange for sufficient alternate DIP financing during the bankruptcy proceeding; actions or orders taken by the U.S. Bankruptcy Court that may impact Spansion operations; the failure of Spansion to obtain the requisite approvals of affected creditors or the courts for any restructuring plan, or to successfully implement such a plan or obtain sufficient exit financing, if required, within the time granted by any court, leading to the likely liquidation of Spansion's assets; that Spansion's common stock could have no value in and following the approval of a restructuring plan and could be cancelled and the potential that the Nasdaq Stock Market may suspend trading or delist any of Spansion's securities on or from such exchange as a result of the proceeding. In addition, risks and uncertainties relating to the company's ability to restructure successfully include Spansion and Spansion Japan's ability to continue their operations while in their respective Chapter 11 or corporate reorganization proceedings, respectively; the ability to capture anticipated cost savings related to the previously- announced reduction in force and other measures taken by the company; and the implementation and success of Spansion's plan to narrow its focus on profitable business segments. In addition, the instability of the global economy and tight credit markets could continue to adversely impact Spansion's business in several respects, including adversely impacting credit quality and insolvency risk of the company and its customers and business partners, including suppliers and distributors; bookings; and reductions and deferrals of demand for Spansion products. The company urges investors to review in detail the risks and uncertainties discussed in the company's Securities and Exchange Commission filings, including but not limited to the company's Annual Report on Form 10-K for the fiscal year ended December 30, 2007 and the company's Quarterly Report on Form 10-Q for the fiscal quarter ended September 28, 2008. Unless otherwise required by applicable laws, the company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Spansion Inc.



http://www.spansion.com 

Copyright (C) 2009 PR Newswire. All rights reserved

SPSN - Volume Alert.......

Spansion, Inc., a semiconductor device company, engages in designing, developing, manufacturing, marketing, and selling flash memory solutions worldwide.


52wk Range: 0.01 - 3.70
Volume: 30,518,746
Avg Vol (3m): 2,667,980

Technicals
Record Volume
Close Above the 50-day MA
Most Actives
MACD - Bullish
Percentage Gainer

Last Price Quote is:
128.53%above 13-day MA
38.65%above 50-day MA
RS Rating: 11 

Fundamentals
Key Data:
Market Cap (M): $8.05 
P/E Ratio: N/A 
PEG Ratio: N/A 
Next Earnings: 04/08/2009
Last Analyst Rating: Hold

Another nice move after a small dip...

Big move in the after hours...


Spansion Inc.(NasdaqGS: SPSN)
After Hours: 0.2390  0.1040 (77.04%) 5:57PM EThelp

Spansion settles suit with Samsung, stock surges
Tue Apr 7, 2009 5:25pm EDT


Spansion, Samsung settle patent lawsuit

* Spansion says will help strengthen position

* Its shares surge

LOS ANGELES, April 7 (Reuters) - Samsung (005930.KS) will pay bankrupt No. 3 flash memory chip maker Spansion (SPSN.O) $70 million to settle patent lawsuits, allowing the U.S. company to speed ahead with an internal overhaul.

The news sent Spansion's shares up to 22 cents from 13.5 cents in after-hours trade.

Spansion -- which has said it is exploring a sale of the company -- is trying to refocus on its most profitable operations while it restructures debt obligations.

Spansion and Samsung would exchange rights in their patent portfolios in terms of licenses and covenants, as agreed in a settlement agreement, Spansion said in a statement. [ID:nWNAB1598]

"The agreement strengthens our cash position to help Spansion emerge from the Chapter 11 process a stronger and more focused company," Chief Executive Officer John Kispert said in a statement.

"The settlement ends the patent disputes between the two companies and is a significant step forward in Spansion's reorganization process."

Spansion sued Samsung in November 2008, seeking to exclude mp3 music players, cellphones, digital cameras and other consumer electronics devices containing Samsung flash-memory components from the U.S. markets, accusing the South Korean company of infringing on its patents.

Samsung countersued, but those complaints will be dismissed under the settlement, Spansion said.

But Spansion -- which filed for bankruptcy protection in March after succumbing to plunging chip prices -- added that its agreement with Samsung was subject to approval by the bankruptcy courts.

Shares in Spansion surged almost 60 percent in after-hours trade, following a regular close at 13.5 cents. (Reporting by Edwin Chan, editing by Leslie Gevirtz)

Spansion and Samsung Settle Patent Litigation Lawsuit:
Tuesday April 7, 2009, 4:05 pm EDT


SUNNYVALE, Calif., April 7 /PRNewswire-FirstCall/ -- Spansion Inc. (Nasdaq: SPSN - News), the world's largest pure-play provider of Flash memory solutions, today announced that it has settled its patent litigation lawsuits with Samsung Electronics. As part of the settlement, Samsung will pay Spansion $70 million and Spansion and Samsung Electronics Company have exchanged rights in their patent portfolios in the form of licenses and covenants subject to a confidential settlement agreement. The settlement ends the patent disputes between the two companies and is a significant step forward in Spansion's reorganization process, demonstrating the company's intense focus on improving its financial position in the current economic climate.

(Logo: http://www.newscom.com/cgi-bin/prnh/20060118/SFW077LOGO)

"Spansion is a technology innovator in Flash memory with valuable IP and this agreement is a significant milestone in the company's strategy to further develop its IP licensing business," said John Kispert, Spansion President and CEO. "In addition, the agreement strengthens our cash position to help Spansion emerge from the Chapter 11 process a stronger and more focused company."

Flash memory, which retains data in devices when the power is turned off, is found in virtually all electronic devices, forms the foundation of the world's mp3 players, cell phones, digital cameras and other consumer electronic devices and is one of the largest segments of the semiconductor industry, with over $130 billion in total revenues since 2000, according to data from Worldwide Semiconductor Trade Statistics, Inc.

Due to Spansion's recent Chapter 11 filing, the agreement is subject to approval by the bankruptcy court. The agreement is contingent upon the dismissal of the claims and the satisfaction of certain conditions including bankruptcy court approval.

In November 2008, Spansion filed two separate patent infringement complaints against Samsung with the International Trade Commission and in the U.S. District Court in Delaware. As part of the complaints, Spansion was seeking the exclusion from the U.S. market of mp3 players, cell phones, digital cameras and other consumer electronic devices containing Samsung's flash memory components. The complaint in the U.S. District Court in Delaware also sought an injunction and treble damages based on Samsung's sale of flash memory. Samsung counterclaimed in the District Court against Spansion for infringement of its own patents seeking damages and an injunction. On January 28, 2009, Samsung filed a patent infringement complaint in Japan against Spansion Japan Limited seeking both injunctive relief and damages for based upon Japanese patents owned by Samsung. Each of these actions is to be dismissed pursuant to the settlement agreement with neither side admitting liability.

About Spansion

Spansion (NASDAQ: SPSN - News) is a leading Flash memory solutions provider, dedicated to enabling, storing and protecting digital content in wireless, automotive, networking and consumer electronics applications. Spansion, previously a joint venture of AMD and Fujitsu, is the largest company in the world dedicated exclusively to designing, developing, manufacturing, marketing, selling and licensing Flash memory solutions. For more information, visit http://www.spansion.com.

Spansion®, the Spansion logo, MirrorBit®, MirrorBit® Eclipse(TM), ORNAND(TM), ORNAND2(TM), HD-SIM(TM), Spansion® EcoRAM(TM) and combinations thereof, are trademarks of Spansion LLC in the United States and other countries. Other names used are for informational purposes only and may be trademarks of their respective owners.

Cautionary Statement

This release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those statements. The risks and uncertainties include a decision by the Bankruptcy Court to not approve the proposed settlement agreement. The risks and uncertainties related to the Company's bankruptcy include: any negative impacts on Spansion's business, results of operations, financial position or cash management arrangements; the inability to freely deploy its cash resources throughout the company; the negative impact on relationships with employees, customers, suppliers and contract manufacturers and other stakeholders; the adequacy of Spansion's cash on hand to fund its ongoing operations or ability to arrange for sufficient DIP financing during the bankruptcy proceeding; actions or orders taken by the U.S. Bankruptcy Court that may impact Spansion operations; the failure of Spansion to obtain the requisite approvals of affected creditors or the courts for any restructuring plan, or to successfully implement such a plan or obtain sufficient exit financing, if required, within the time granted by any court, leading to the likely liquidation of Spansion's assets; that Spansion's common stock could have no value in and following the approval of a restructuring plan and could be cancelled and the impact of the Nasdaq Stock Market initiating the process to delist Spansion's securities from such exchange. In addition, risks and uncertainties relating to the company's ability to restructure successfully include Spansion and Spansion Japan's ability to continue their operations while in their respective Chapter 11 or corporate reorganization proceedings, respectively; the ability to capture anticipated cost savings related to the previously- announced reduction in force and other measures taken by the company; the implementation and success of Spansion's plan to narrow its focus on profitable business segments and the ability of Spansion to pursue its intellectual property strategy. In addition, the instability of the global economy and tight credit markets could continue to adversely impact Spansion's business in several respects, including adversely impacting credit quality and insolvency risk of the company and its customers and business partners, including suppliers and distributors; bookings; and reductions and deferrals of demand for Spansion products. In addition, the company urges investors to review in detail the risks and uncertainties discussed in the company's Securities and Exchange Commission filings, including but not limited to the company's Annual Report on Form 10-K for the fiscal year ended December 30, 2007 and the company's Quarterly Report on Form 10-Q for the fiscal quarter ended September 28, 2008. Unless otherwise required by applicable laws, the company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Stair stepping.......


52wk Range: 0.01 - 3.70
Volume: 61,928,943
Avg Vol (3m): 5,275,490

Technicals
Record Volume
13-day EMA Cross Above 50-day MA
Most Actives
Percentage Gainer

Last Price Quote is:
98.40%above 13-day MA
112.37%above 50-day MA
RS Rating: 73 

Fundamentals
Earnings Expected on Apr 8

Key Data:
Market Cap (M): $14.50 
P/E Ratio: N/A 
PEG Ratio: N/A 
Next Earnings: 07/14/2009
Last Analyst Rating: Hold