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Thursday, September 14, 2006

California Micro Flying After Raising Guidance

How do you get off the ground? Raise guidance of course!

Today California Micro Devices (CAMD) traded only about 192,000 shares and closed flat on the day at $4.43 on light trading volume. It is trading up 14% at $5.05 now on about 18,500 shares after raising guidance. This is a microcap stock with only a $101 million market cap based on closing prices. Its 52-week trading range is $3.47 to $9.80 and it had only in the last couple of months started to recover from its landslide.

California Micro Devices (CAMD) today raised its financial outlook for the second quarter of fiscal 2007, which ends September 30, 2006. The company now expects revenue between $17.0 and $18.0 million compared to its initial guidance of $16.0 to $17.5 million and to $18.5 million a year ago. On a GAAP basis, the company expects earnings to be between breakeven and a net loss of $0.01 per share compared to its initial guidance of a net loss of $0.01 to $0.03 and diluted EPS of $0.09 a year ago. On a non-GAAP basis, excluding Arques Technology acquisition costs and employee stock-based compensation expenses, and using a cash basis tax rate, diluted EPS is expected to be between $0.04 and $0.05 compared to its initial guidance of $0.02 to $0.04.

"We are raising our revenue and earnings guidance as the result of greater demand than we had anticipated for our products," said Robert V. Dickinson, president and CEO. "I'm also pleased to report that bookings so far this quarter are stronger than they have been at the same point in the last three quarters." He noted that design wins are expected to be comparable to record levels achieved in the last two quarters.

The company designs and sells of analog semiconductor products for applications in the mobile handset, personal computing, and digital consumer electronics markets.

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