Date: 17th May 2010
Microsemi completes acquisition of White
Microsemi has said that its acquisition of White Electronic
Designs Corporation closed on Friday, April 30, 2010. Following
the acquisition, White Electronic is a wholly-owned subsidiary
"White Electronic is an excellent fit for Microsemi,"
said James J. Peterson, Chief Executive Officer of Microsemi.
"This acquisition extends our offering into high-growth
sectors in our core Aerospace & Defense markets and
adds an extraordinary anti-tamper functionality to our existing
product suite. We continue to expect the acquisition to
be accretive immediately and to perform within our targeted
corporate gross margin range during its first full quarter
Accounting for the acquisition of White Electronic, Microsemi
now expects for the third quarter of fiscal 2010 that net
sales will increase between 9 percent and 11 percent sequentially.
On a non-GAAP basis, the company expects earnings for the
third fiscal quarter to be $0.29 to $0.30 per diluted share.