SANTA CLARA, Calif., July 19, 2016 -- Marvell Technology Group Ltd. (MRVL), a global leader in integrated silicon solutions, today reported financial results for the fourth fiscal quarter and fiscal year 2016, ended January 30, 2016, and reported updated financial results for the second and third quarters of fiscal 2016, ended August 1, 2015 and October 31, 2015, respectively.  

 

Key Fourth Quarter of Fiscal 2016 and Fiscal Year 2016 Financial Highlights               

 

Revenue: Q4 FY 2016, $616 Million; FY 2016, $2.7 Billion

GAAP Net Earnings (Loss): Q4 FY 2016, $4 Million; FY 2016, ($811) Million (includes the settlement with CMU described below)

GAAP Diluted Earnings (Loss) Per Share: Q4 FY 2016, $0.01; FY 2016, ($1.59)

Non-GAAP Net Income: Q4 FY 2016, $55 Million; FY 2016 $194 Million

Non-GAAP Diluted EPS: Q4 FY 2016, $0.11; FY 2016 $0.37

Cash Flow from Operations: Q4 FY 2016, $53 Million; FY 2016 $205 Million

Cash and ST Investments: $2.3 Billion (prior to giving effect to the settlement with CMU described below)

Fourth Quarter of Fiscal 2016 and Fiscal Year 2016 Summary

JACKSONVILLE, Fla., July 18, 2016  -- ParkerVision, Inc.(PRKR), a leading developer and marketer of radio frequency technologies used in advanced wireless solutions, announced today that it has entered into a settlement and patent license agreement with Samsung Electronics Co., Ltd. and its affiliates (collectively, “Samsung”) for the perpetual, worldwide license of ParkerVision’s current patent portfolio, subject to certain exclusions. In conjunction with this agreement, ParkerVision will file a motion to terminate Samsung from a pending U.S. International Trade Commission investigation and dismiss its claims against Samsung in two United States District Court cases. The companies agreed not to disclose the specific financial terms of the agreement.

 

ParkerVision’s Chairman and CEO, Jeffrey Parker, commented, “Samsung is a world leader in technology and innovation, and we are pleased to welcome Samsung as a licensee of our technologies and to dismiss the outstanding litigation between the parties.” 

DURHAM, N.C.-- Cree, Inc. (CREE), a market leader in LED lighting, today announced execution of a definitive agreement to sell its Wolfspeed Power and RF division (“Wolfspeed”), which includes the silicon carbide substrate business for power, RF and gemstone applications, to Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) for $850 million in cash.

 

In 2015, the Company announced its strategy to become a more focused LED lighting company. As part of that strategy, the Company also announced the proposed IPO of Wolfspeed to create a more focused Power and RF management team, raise capital to fuel Wolfspeed’s growth and unlock value for Cree shareholders.

 

Subsequent to that announcement, the Company was approached by several parties interested in acquiring the business directly. After evaluating the strategic options, the Company concluded that selling Wolfspeed to Infineon is the best decision for our shareholders, employees and customers.

FREMONT, Calif., June 07, 2016 -- Aehr Test Systems (AEHR), a worldwide supplier of semiconductor test and burn-in equipment, today announced that it has received the first order for its new FOX-XP production test cell. The order totals over $4.5 million and includes a FOX-XP Multi-Wafer Test and Burn-in System, a FOX-XP WaferPakTM Aligner, and an initial set of FOX-XP WaferPak Contactors. $1.4 million of the order is shippable and payable immediately, and the remaining shipments and revenue from this sale are expected to continue through early calendar 2017.

 

Gayn Erickson, President and CEO of Aehr Test Systems, commented, “We are very excited about this new customer for our FOX-XP multi-wafer burn-in and test system and to receive the first order for a full production test cell of this new product. The customer is one of the world’s largest semiconductor manufacturers and has selected the FOX-XP solution for a high-volume production application where extended burn-in is required to meet their stringent quality standards. The customer’s end product will be used for high-speed communications in enterprise and server applications. It is much more cost-effective to do the burn-in required for this critical application at the wafer level on our new FOX-XP platform instead of in package form.