“Despite a troubled economy, Spansion gained segment share in the fourth quarter while keeping average selling prices relatively stable, stated John Kispert, Spansion president and chief executive officer. In addition, net sales in the first quarter are an indication of the continued customer demand for Spansion solutions.
The company also noted that it is looking forward to working closely with its creditors in the weeks and months ahead on a plan of reorganization for the company.
The decisions we made to reduce costs were difficult, but necessary, Kispert added. As a result of those actions, Spansion expects to meet its post-petition obligations, and is leveraging its global manufacturing facilities to meet customer demand. Spansion is experiencing relatively typical seasonal patterns during the first quarter and is conducting business as usual. We plan to continue to take the necessary actions to strengthen our cash position, to help enable Spansion to emerge from the Chapter 11 process as a stronger and more focused company.
Spansion is a US-based provider of flash memory solutions.
