Features - Storage Innovations:

SIMTEK UPDATES INVESTORS ON NEW 1 MBIT nvSRAM DEVELOPMENT

Simtek Corporation, a global provider of advanced nonvolatile semiconductor memory products, reported that it has received the first complete 1 Mbit processed silicon from its fabricator and that positive initial test results indicate that samples of the new product are on schedule for shipment to prospective customers in the middle of the current quarter.

Doug Mitchell, CEO of Simtek, said initial testing of the first 1 Mbit processed silicon received from development partner Anam Semiconductor shows that the product meets or exceeds performance specifications and remains on track with its 2003 product rollout schedule.

"We are extremely pleased to report that our new 1 Mbit product has achieved all of the goals we have established for the program to date," Mitchell said. "Given the complexity of the development process and the unique, high-performance characteristics of the product, we are particularly proud of the effort the development teams at both Simtek and Anam have put forth to produce this product. Amidst a flurry of nonvolatile memory development activities in the industry, we plan to deliver the world's first monolithic, high speed, bytewide, 1 Mbit nonvolatile family of memory products with all of the quality, reliability and ease-of-use that Simtek products are known for."

Mitchell said Simtek is extensively testing a small number of parts in the new, small 48-pin surface mount package, adding that the next production silicon wafers from Anam are expected in two weeks, at which time they will be packaged into design samples for a number of prospective customers who have expressed strong interest in the product.

"Our unique 1 Mbit design has generated substantial interest in the marketplace from both current and prospective customers," Mitchell said. "It is ideally suited to support next-generation applications in mass storage systems, office automation equipment, industrial control systems and military flight and weapons systems. As previously announced, the 1 Mbit nvSRAM, along with a succession of follow-on products, is expected to become a major new revenue stream for Simtek beginning in 2004 and continuing for many years."