News & Events
Elantec Semiconductor Announces Record Revenues And Earnings For First Quarter Fiscal Year 2001

MILPITAS, CALIFORNIA, January 16, 2001 - Elantec Semiconductor, Inc., (NASDAQ: ELNT), a leader in high performance analog integrated circuits, today reported record financial results for the first quarter of fiscal 2001. Net revenues for the first quarter were $40.7 million representing an increase of 159% from the $15.7 million reported for the first quarter of fiscal 2000.

Net income was $9.7 million or $0.37 per diluted share for the first quarter of fiscal 2001. This compared with net income of $2.8 million, or $0.13 per diluted share for the first quarter of fiscal 2000.

“Elantec again experienced significant revenue and profit growth this quarter,” said Rich Beyer, President and Chief Executive Officer. “We are very proud that the Company for the eighth consecutive quarter improved both revenue and net income. And this most recent quarter has been against a background of a slowdown in a number of technology sectors.”

In looking to the second quarter, Mr. Beyer commented, “We expect our revenues to increase very modestly, 1 to 2%, from first quarter levels and expect net income per diluted share to be approximately $0.38. In the second half of our fiscal year we expect a return to higher sequential quarterly growth and expect our revenues for the full year to grow approximately 70% over fiscal 2000. Net income per diluted share for the full fiscal year 2001 is expected to be in the $1.52 - $1.58 range.”

Web Broadcast and Instant Replay
Elantec will broadcast its first quarter earnings conference call today at 1:30 p.m. PST. This event is available through Investor Broadcast Network’s Vcall website located at http://www.vcall.com. Listeners should go to the website at least ten minutes before the event to download and install any necessary audio software. For those unable to attend the live broadcast, a replay will be available shortly after the event. There is no charge to access the broadcast. Elantec is also making available a 5-day telephone playback of the conference call which can be accessed by dialing 1-800-405-2236 and entering pass code number 806204.

Safe Harbor Statement
Certain matters discussed in this press release are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include the timing of or delays in new product and process technology introductions by the Company or its competitors, competitive pricing pressures, fluctuations in manufacturing yield, changes in the mix or markets in which products are sold, availability and cost of raw materials, business and economic conditions in various geographic regions, change in customer order patterns, litigation involving intellectual property and other issues, and other risk factors discussed from time to time in the Company’s reports filed with the Securities and Exchange Commission, including but not limited to the Company’s most recent Form 10-K. The Company’s actual future results could differ materially from those discussed here.

About Elantec Semiconductor
Elantec designs, manufactures and markets high performance analog integrated circuits primarily for the video, optical storage, communication, and power management markets. The Company targets high growth commercial markets in which advances in digital integrated circuit technology are driving increasing demand for high speed, high performance and low power consumption analog circuits.

ELANTEC SEMICONDUCTOR, INC.
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In thousands, except per share data)
(1) Unaudited
(2) Derived from the Company’s audited consolidated financial statements as of September 30, 2000