Company Overall Product Order Backlog at 2-Year Record High
SAN JOSE, Calif.–(BUSINESS WIRE)–Spectra7 Microsystems Inc. (TSXV:SEV) (“Spectra7” or the “Company”), a leading provider of high-performance analog semiconductor products for broadband connectivity markets, announced today that cable assembly customers have ordered over $1.0 million in Spectra7 products in the second quarter to support ramping demand from Hyperscaler Data Center Operators both in China and the US.
The Global Data Center Networking Market size is expected to reach $40.3 billion by 2025, rising at a market growth of 12.3% CAGR during the forecast period.1 As data rates increase and the need for low power and cost effective solutions become more critical, the direct market that Spectra7 is serving is anticipated to be worth over $200 million in 20212.
“Spectra7’s revenue ramp in the large, high growth data center market has begun,” said Spectra7 CEO Raouf Halim. “Early design wins of our GaugeChangerTM technology are now hitting volume production. The compelling CAPEX reductions and OPEX savings of our technology continue to resonate well with operators, and we expect a strong ramp throughout 2020.”
GaugeChangerTM is an innovative and disruptive technology that allows copper to extend much longer lengths without the cost and power penalty of optics. It works equally well at 25 Gbps NRZ and 50 Gbps PAM-4 enabling new connector standards of 100, 200 and 400 Gbps.
All amounts mentioned in this release are $USD.
About Spectra7 Microsystems Inc.
Spectra7 Microsystems Inc. is a high-performance analog semiconductor company delivering unprecedented bandwidth, speed and resolution to enable disruptive industrial design for leading electronics manufacturers in virtual reality, augmented reality, mixed reality, data centers and other connectivity markets. Spectra7 is based in San Jose, California with design centers in Cork, Ireland, and Little Rock, Arkansas. For more information, please visit www.spectra7.com.
Certain statements contained in this press release constitute “forward-looking statements”. All statements other than statements of historical fact contained in this press release, including, without limitation, those relating to the shares for debt transaction, and the Company’s strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company’s expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company’s Annual Information Form for the year ended December 31, 2019. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.
Spectra7 Microsystems Inc.
Spectra7 Microsystems Inc.
Chief Financial Officer