Moschip Achieves Record
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Moschip Achieves Record Sales in Fiscal Q3, 2007

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Moschip Achieves Record Sales in Fiscal Q3, 2007

Hyderabad, Andhra Pradesh, India

MosChip Semiconductor Technology Limited, a leading provider of high performance connectivity solutions for consumer, industrial and computing applications, is pleased to announce that for the quarter ended December 31, 2006 the consolidated revenues has increased by 27% to Rs. 7.59 crores ($1.71M) as against Rs.5.98 crores ($1.34M) for the corresponding period in the previous year.

MosChip has achieved record product sales in Q3, 2007. Gross product sales for Q3 were $1.617M, up sequentially 12% from Q2 and up 45% from same quarter previous year.

Powered by the increase in demand for these products, the Company recently announced a cash profit at the consolidated level for the third consecutive quarter ended December 31, 2006.

"This is a major milestone for MosChip and a testament to the sales and marketing capability of our team", said Ram Reddy, CEO of Moschip. "The demand for our products is growing worldwide as we secure new design wins and expect this momentum to continue".

Sales in Asia were recorded at 83% and we saw an increase in sales from Japan, Korea, Europe and USA to 17%. The MosChip MCS9800 family, an established and leading solution for providing UARTs on any system with PCI bus, continued to lead the revenue growth and we saw significant increase in the MCS7830 USB to Ethernet product line. In Q3, 2007 we also recorded several significant design wins for the MCS7840 and MCS7820, USB to UART, family that was introduced in the previous quarter. We expect several of those designs to go to mass production and the volume of sales for the USB to UART bridge products to grow in coming quarters.

MosChip products are used by worldwide OEM's in following applications:
-- Point of Sale Machines
-- Industrial Automation Systems
-- Set Top Box
-- Vending/Banking Kiosks
-- Gaming Motherboards
-- CCTV Systems

About MosChip

MosChip Semiconductor Technology Limited, a fabless semiconductor company, was founded in 1999 with headquarters in Hyderabad, Andhra Pradesh, India. The company's design center is in Hyderabad. The sales activity is handled by its wholly owned subsidiary, viz., MosChip Semiconductor Technology, USA. The company has several products in the PCI, USB and Internet Security Space. For more information about MosChip, please visit www.moschip.com.

SAFE HARBOR: This release comprises certain forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those mentioned in such forward-looking statements. The risks and uncertainties including but not limited to, those risks and uncertainties, viz, our ability to compete in highly competitive semiconductor industry, ability to define, develop and sell new products, dependency on subcontractors for the supply and quality of silicon wafers, dependency on international markets considering the cyclical nature of the semiconductor industry and our ability to attract and retain technical manpower. MosChip may from time to time make additional forward looking statements in any manner and does not undertake to update any of these forward looking statements that may be made from time to time by or on behalf of the company.

Mr. Ritesh Kumar-Manager(Finance & Accounts), MosChip Semiconductor Technology Limited, +91 (040) 23379440 ritesh.agarwal@moschip.com

Source: MosChip Semiconductor Technology Limited (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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