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News and Information Article
FREMONT, Calif., Feb. 8 /-FirstCall/ -- SCM Microsystems, Inc.
(Nasdaq: SCMM; Prime Standard: SMY), a leading provider of solutions that open
the Digital World, today announced preliminary financial results for its
fiscal fourth quarter ended December 31, 2005.
While SCM and its auditors have not yet completed their review of the
companys results for the quarter, based on its preliminary review, the
company expects revenues for the fiscal fourth quarter ended December 31, 2005
to be between $14.2 million and $14.4 million, which is above the guidance
previously given by the company of $10 million to $13 million. Gross margin is
expected to be at the low end of previously published guidance of 38% to 41%.
Within these ranges, SCM continues to expect to record an operating loss for
the fourth quarter of 2005. Cash and cash equivalents as of the end of the
fourth quarter are expected to be $32.4 million, down $3.3 million from the
previous quarter end. Cash outlays during the fourth quarter included a
significant payment and associated fees related to the previously announced
settlement of a claim by DVDCre8, Inc.
Robert Schneider, chief executive officer, commented, "SCM benefited in
the fourth quarter from strong orders of digital pay-TV decryption modules for
the South Korean cable market, which is transitioning from analog to digital
broadcast technology. To date, the ramp up of this market has proven to be
smoother than we had expected and the level of orders received during the
quarter was higher than anticipated."
SCM will report final financial results for its fourth quarter and fiscal
year 2005 after the filing of its Annual Report on Form 10-K with the United
States Securities and Exchange Commission, which the Company is targeting to
complete on or around March 16, 2006.
About SCM Microsystems
SCM Microsystems is a leading supplier of solutions that open the Digital
World by enabling people to conveniently access digital content and services.
The company develops, markets and sells its smart card reader technology for
PC, network and physical access and conditional access modules for secure
digital TV decryption to OEM customers in the government, financial,
enterprise and broadcasting markets worldwide. Global headquarters are in
Fremont, California, with European headquarters in Ismaning, Germany. For
additional information, visit the SCM Microsystems web site at
http://www.scmmicro.com.
NOTE: This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, including, without
limitation, our statements regarding our expectations for revenues, gross
margin, operating performance and cash position in the fourth quarter of 2005
and for revenues, gross margin and operating performance in the first quarter
of 2006. These statements are subject to risks and uncertainties that may
cause actual results to differ materially from those contemplated herein. Our
actual financial results may not meet expectations. For a discussion of risks
and uncertainties related to our business, please refer to our public company
reports, including our Annual Report on Form 10-K for the year ended December
31, 2004 and our Quarterly Report on Form 10-Q for the quarter ended September
30, 2005, both filed with the U.S. Securities and Exchange Commission.
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