In connection with the sale, the company plans to take a goodwill and long-lived assets impairment charge and an inventory provision charge totaling approximately $4.0 million during the second quarter, of which $3.8 million is expected to be non-cash.
"The sale of Mushkin allows us to dedicate 100% of our efforts to growing our semiconductor business," said Bill Staunton, Ramtron CEO.
Ramtron International Corporation (Nasdaq:RMTR) is the leading supplier of nonvolatile ferroelectric semiconductors, including serial and parallel ferroelectric random access memory (FRAM) devices and Processor Companion devices that integrate a variety of commonly needed discrete analog and mixed-signal functions for processor-based systems. For more information, visit www.ramtron.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements herein that are not historical facts are "forward-looking statements" involving risks and uncertainties, including but not limited to: our ability to grow our semiconductor business, the effect of global economic conditions, shifts in supply and demand, market acceptance, the impact of competitive products and pricing, product development, commercialization and technological difficulties, and capacity and supply constraints. Please refer to Ramtron's Securities and Exchange Commission filings for a discussion of such risks.