SAN JOSE, Calif., Nov. 13, 2007 (PRIME NEWSWIRE) -- Integrated Silicon Solution, Inc. (Nasdaq:ISSI) today announced that its Board of Directors has elected Scott Howarth as President and Chief Financial Officer. Mr. Howarth has served as ISSI's Vice-President and Chief Financial Officer since February 2006. As President, Mr. Howarth will take over the day to day management of the company starting December 1, 2007. Jimmy Lee will continue to serve as Chief Executive Officer and Chairman of the Board. Mr. Howarth has over 23 years of industry experience having served as Chief Financial Officer at Chrontel from 2001 to February 2006, Chief Financial Officer at Scout Electromedia from 2000 to 2001, and with Intel Corporation from 1984 to 2000. A graduate from the University of Idaho, Mr. Howarth holds an MBA degree in Finance and a B.S. degree in Mining Engineering.
"I congratulate Scott on his new appointment. Since joining ISSI early last year, Scott has shown leadership in finance and operations of the Company. After completing an executive search process, the Board decided to promote from within and to elevate Scott to be ISSI's President. I look forward to working with him in his expanded role," Mr. Lee commented.
Mr. Howarth stated: "I am very excited to take on a larger role in leading the future of ISSI. The Company has made a significant turn around in the past year and I look forward to working with ISSI's management team to capitalize on the Company's progress and growth opportunities."
About the Company
ISSI is a fabless semiconductor company that designs and markets high performance integrated circuits for the following key markets: (i) digital consumer electronics, (ii) networking, (iii) mobile communications and (iv) automotive electronics. The Company's primary products are high speed and low power SRAM and low and medium density DRAM. The Company also designs and markets EEPROM, SmartCards and is developing selected non-memory products focused on its key markets. ISSI is headquartered in Silicon Valley with worldwide offices in China, Europe, Hong Kong, India, Korea and Taiwan. Visit our web site at http://www.issi.com.
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Cautionary Statement
The statements in this release relating to our progress and growth opportunities are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause our actual results to differ materially, including, but not limited to: supply and demand conditions in the market place, unexpected reductions in average selling prices for our products, our ability to sell our products for key applications and the pricing and gross margins achieved on such sales, our ability to control or reduce operating expenses, changes in manufacturing yields, order cancellations, order rescheduling, product warranty claims, competition, the level and value of inventory held by OEM customers, or other factors.
For a detailed discussion of these and other risk factors, please refer to ISSI's filings on Forms 10-K and 10-Q. You can obtain copies of Forms 10-K and 10-Q and other relevant documents for free at ISSI's Web site (www.issi.com) or the SEC's Web site (www.sec.gov) or from commercial document retrieval services.
Stockholders of ISSI are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date such statements are made. ISSI does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after the date of this press release, or to reflect the occurrence of unanticipated events.