Hifn Updates Outlook for Fiscal 1Q09

Hifn expects revenue for the first fiscal quarter of 2009, ending December 31, 2008, to be 15% to 20% lower than fourth quarter revenue. Additionally, the company also expects gross margins for the first fiscal quarter to rise sequentially and be in the range of 65% to 69%.

"Customer demand for our products has softened and has caused them to push out orders this quarter," said Albert Sisto, chairman and chief executive officer for Hifn. "Given the general weakness in the macro-economic environment we are proactively working with our customers to help them manage their inventory levels and have accepted their rescheduling requests. The affects of this global economic slowdown have adversely affected our business and are disappointing. However, we continue to experience new design wins for our products, which we expect will go into production next year. We remain confident that our low-power, cost-effective solutions are well positioned for the market and will contribute to the company’s growth in 2009 and beyond."