SPSN - Spansion, Inc (Naz GS)

[Klipper22]

Nice chart. Will semiconductors ever get a pop? Lord knows they need it.

Spansion Inc.
915 Deguigne Drive
Sunnyvale, CA 94088-3453
United States - Map
Phone: 408-962-2500
Web Site: http://www.spansion.com

DETAILS
Sector: Technology
Industry: Semiconductor- Memory Chips

BUSINESS SUMMARY
Spansion, Inc. engages in the design, development, manufacture, and marketing of flash memory products and solutions worldwide. The company's flash memory products are integrated into a range of electronic products, including mobile phones, consumer electronics, automotive electronics, networking and telecommunications equipment, personal computers, and personal computer peripherals. It sells its products to original equipment manufacturers and third-party distributors. The company was founded in 1993 and is headquartered in Sunnyvale, California.

Shares Outstanding: 135.28M
Float: 102.71M
% Held by Insiders: 34.33%

http://stockcharts.com/h-sc/ui?s=sps...d=p38412880603

[Klipper22]

Very nice day for SPSN. Got in first thing this morning when I saw VLTR moving premarket. Just gave me a warm and fuzzy feeling for semis having a decent day. Worked out okay.

[BadThad]

Will semiconductors ever get a pop?

I know man, it's ridiculus....business is actually good for them and it will continue to get better. Like people are ever going to stop buying electronics? LOL

[Klipper22]

Still poppin today. Up another 10%. Beautiful.

http://stockcharts.com/h-sc/ui?s=SPS...=5&a=129190543

[Aufan 1983]

This is a Ru pick on 1-16-09 @ .12 for a quick play.

Spansion delays interest payment, mulls options
Spansion delays interest payment due Thursday, considers merger or sale
Thursday January 15, 2009, 10:57 am EST
Yahoo! Buzz Print Related:Spansion Inc.
SUNNYVALE, Calif. (AP) -- Spansion Inc., one of the world's largest makers of flash memory chips used in digital cameras and other gadgets, said it will delay making an interest payment due Thursday on a senior note and is considering a merger or sale.



{"s" : "spsn","k" : "c10,l10,p20,t10","o" : "","j" : ""} Its shares shed 1 cent, or 5.6 percent, to 17 cents in Thursday morning trading.

In connection with its exploration of strategic alternatives, Spansion said it was postponing the payment in anticipation of beginning "an organized process of potential balance sheet restructuring opportunities." The 11.25 percent senior note is due 2016.

Spansion said it is considering opportunities to merge with or sell to similar U.S. or foreign businesses. That would create "significantly greater scale" and provide customers with a broader range of more cost-effective memory products, the company said.

In November, Spansion cut its fourth-quarter sales forecast to 20 percent lower than its third-quarter revenue, suggesting revenue of about $505 million. The company previously had said it expected a slight decline in sales.

The Sunnyvale, Calif., company cited a slowdown in demand as customers shut factories for its reduced outlook.

Analysts surveyed by Thomson Reuters expect revenue for the period ended Dec. 28 of $504.2 million.

Spansion also said in November it would cut cost of goods sold by about 25 percent and reduce operating expenses.

[CatFish]

picked up some spsn today. i think it is ready to come off bottom

[thegreatgate]

And another one bites the dust:

Spansion, the Sunnyvale flash memory chip maker that outraged many of its workers when it laid off 3,000 of them last week while restoring the previously reduced pay of some executives, on Sunday sought bankruptcy protection from its creditors. In its Chapter 11 petition, filed in U.S. Bankruptcy Court in Delaware, the company listed about $3.8 billion in assets and nearly $2.4 billion in debts. "Chapter 11 is a difficult decision," said John Kispert, who was hired on Feb. 4 to replace retiring Chief Executive Bertrand Cambou. "It really provides this company the most effective means to preserve our market position and to maintain customer confidence." Spansion has been consulting with its major creditors about the Chapter 11 filing and those talks have included discussions about arranging financing to help it keep operating while it is in bankruptcy court, according to a company news release. "The company believes that its current and anticipated cash resources will be sufficient to pay its expenses and maintain its business operations while it explores and implements options to address its long-term cash needs," the release added. In an interview Sunday, Kispert, 45, the former chief operating officer and president of KLA-Tencor, a Milpitas company whose products help make computer chips, said the company had $100 million in cash and operating expenses of $30 million a week. But he said that with ongoing revenue coming in the Advertisement company had enough cash to make it through the bankruptcy process without needing additional financing. On Jan. 15, Spansion announced it had failed to pay the interest on some of its debt and that it was exploring merging with another company or selling itself. On Sunday, Kispert said "we're in very deep and active discussions" with other firms about such a deal. But he added that Spansion also was considering continuing on its own after it reorganizes its operations under bankruptcy protection. "It has tremendous technology, tremendous people and a tremendous reputation in the markets," Kispert said. If Spansion does forge ahead on its own, it probably would have to trim its costs much more, said Caris & Co. analyst Betsy Van Hees on Sunday. She noted that Spansion "didn't control expenses very wisely" in recent years, particularly in building a manufacturing plant in Japan. Spansion was owned and formed by Sunnyvale computer-chip maker Advanced Micro Devices and Fujitsu, the Japanese technology company, in 1993 under the name Fujitsu AMD Semiconductor Limited. In 2003, AMD and Fujitsu renamed it Spansion, and it became an independent public company in December 2005. AMD and Fujitsu remain major stockholders. Its so-called flash memory chips are used to store data in cell phones, cars, printers and other electronic devices. But it has failed to make a profit since going public and lost $133 million in the third quarter of 2008, the most recent period for which it has disclosed financial data. To cut expenses, it announced last Monday it was laying off 3,000 workers, including about 600 Bay Area employees. However, it outraged many of those workers when it disclosed the same day that it was rescinding a six-month 10-percent pay cut imposed in October on some executives and other key personnel. Among those concerned about the plight of the laid-off workers is former Spansion Chief Executive Cambou. He announced Friday that he is returning $403,000 in severance money he got from the company because "my heart is broken" to see others laid off without severance. On Sunday, Cambou said he doesn't believe his banker has sent the money back to Spansion yet, but that he would fulfill his promise to return it, despite the bankruptcy filing.

[CatFish]

found this news in afterhours and imidiatly purchased. i called aufan and now posting it. aufan also got spsn in afterhours. we are hopeing for a gapper tomorow. here is the news

UPDATE 1-Spansion settles suit with Samsung, stock surges
Tue Apr 7, 2009 5:14pm EDT Email | Print | Share| Reprints | Single Page[-]

* Spansion says will help strengthen position

* Its shares surge nearly 60 percent

LOS ANGELES, April 7 (Reuters) - Samsung (005930.KS) will bankrupt pay No. 3 flash memory chip maker Spansion (SPSN.O) $70 million to settle patent lawsuits, allowing the U.S. company to speed ahead with an internal overhaul.

The news sent Spansion's shares up to 22 cents from 13.5 cents in after-hours trade.

Spansion -- which has said it is exploring a sale of the company -- is trying to refocus on its most profitable operations while it restructures debt obligations.

Spansion and Samsung would exchange rights in their patent portfolios in terms of licenses and covenants, as agreed in a settlement agreement, Spansion said in a statement. [ID:nWNAB1598]

"The agreement strengthens our cash position to help Spansion emerge from the Chapter 11 process a stronger and more focused company," Chief Executive Officer John Kispert said in a statement.

"The settlement ends the patent disputes between the two companies and is a significant step forward in Spansion's reorganization process."

Spansion sued Samsung in November 2008, seeking to exclude mp3 music players, cellphones, digital cameras and other consumer electronics devices containing Samsung flash-memory components from the U.S. markets, accusing the South Korean company of infringing on its patents.

Samsung countersued, but those complaints will be dismissed under the settlement, Spansion said.

But Spansion -- which filed for bankruptcy protection in March after succumbing to plunging chip prices -- added that its agreement with Samsung was subject to approval by the bankruptcy courts.

Shares in Spansion surged almost 60 percent in after-hours trade, following a regular close at 13.5 cents. (Reporting by Edwin Chan, editing by Leslie Gevirtz)

[thegreatgate]

Originally Posted by CaribbeanCat

found this news in afterhours and imidiatly purchased. i called aufan and now posting it. aufan also got spsn in afterhours.

You guys should be able to sleep very well tonight. Last trade went through at 32 cents or up 137.04% from the close. Nice find!

[Volatile22]

Excellent find CaribbeanCat! I was able to jump in the mid .20s. What a lawsuit...70 million is a hell of a lot! Hope we are all tomorrow.