PSi Technologies Issues Announcement Pursuant to Nasdaq Marketplace Rule 4350(b)
July 31 2006 - 5:10PM
PR Newswire (US)
MANILA, Philippines, July 31 /PRNewswire-FirstCall/ -- PSi
Technologies Holdings, Inc., (NASDAQ:PSIT), a leading independent
provider of assembly and test services for the power semiconductor
market, today announced that its financial statements for the year
ended December 31, 2004, contained in its Annual Report on Form
20-F/A for the year ended December 31, 2004, as filed with the
Securities and Exchange Commission on July 24, 2006, included an
audit report containing a going concern qualification from its
independent public accounting firm. This announcement is being made
in compliance with Nasdaq Marketplace Rule 4350(b)(i)(B), which
requires separate disclosure of receipt of an audit opinion that
contains a going concern qualification. This announcement does not
represent any change or amendment to the Company's 2004 financial
statements or its Annual Report on Form 20-F/A. Further information
regarding the going concern qualification can be found in the
Company's Annual Report on Form 20-F/A for the year ended December
31, 2004, as filed with the Securities and Exchange Commission on
July 24, 2006. About PSi Technologies PSi Technologies is a focused
independent semiconductor assembly and test service provider to the
power semiconductor market. The Company provides comprehensive
package design, assembly and test services for power semiconductors
used in telecommunications and networking systems, computers and
computer peripherals, consumer electronics, electronic office
equipment, automotive systems and industrial products. Their
customers include most of the major power semiconductor
manufacturers in the world such as Infineon Technologies, ON
Semiconductor, Philips Semiconductor, and ST Microelectronics. For
more information, visit the Company's web site at
http://www.psitechnologies.com/ or call: At PSi Technologies
Holdings, Inc.: Thelma G. Oribello (63 2) 838 44 89 At Financial
Relations Board: Erin Cox (310) 854 8319 Safe Harbor Statement This
press release contains forward-looking statements that involve
risks and uncertainties. Actual results and outcomes may differ
materially. Factors that might cause a difference include, but are
not limited to, those relating to the pace of development and
market acceptance of PSi's products and the power semiconductor
market generally, commercialization and technological delays or
difficulties, the impact of competitive products and technologies,
competitive pricing pressures, manufacturing risks, the possibility
of our products infringing patents and other intellectual property
of third parties, product defects, costs of product development,
manufacturing and government regulation, risks inherent in emerging
markets, including but not limited to, currency volatility and
depreciation, restricted access to financing and political and
social unrest and the possibility that the initiatives described
herein may not produce the intended results. PSi undertakes no
responsibility to update these forward-looking statements to
reflect events or circumstances after the date hereof. More
detailed information about potential factors that could affect
PSi's financial results is included in the documents PSi files from
time to time with the Securities and Exchange Commission.
DATASOURCE: PSi Technologies Holdings, Inc. CONTACT: Thelma G.
Oribello of PSi Technologies Holdings, Inc., (63 2) 838 44 89, ; or
Erin Cox of Financial Relations Board, +1-310-54 8319, , for PSi
Technologies Holdings, Inc. Web site:
http://www.psitechnologies.com/
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