SHANGHAI, China, Feb. 7, 2014 (GLOBE NEWSWIRE) -- Montage Technology Group Limited (Nasdaq: MONT ) ("Montage"), a global fabless provider of analog and mixed-signal semiconductor solutions addressing the home entertainment and cloud computing markets, today issued a statement in response to allegations raised in a research report dated February 6, 2014 issued by a group called Gravity Research.
The company believes that the allegations and accusations in the report lack merit and contain numerous errors of fact, misleading speculation and misinterpretation of events. Montage fully stands behind the integrity of its audited financial statements, which have been audited by its independent accountants, PricewaterhouseCoopers Zhong Tian LLP. Montage also disclaims any suggestion that LQW Technology Company, an independent distributor of semiconductor products to the end customers of Montage and other technology companies, is an affiliate of Montage. Montage plans to release additional information refuting the allegations made by Gravity Research in due course. Montage is committed to providing full and accurate disclosure to investors and to preserving confidence in Montage's business, management, financial performance, operations and corporate structure.
Forward Looking Statements
This press release contains "forward-looking" statements about the Company's plans, expectations and beliefs. These forward-looking statements can be identified by terminology such as "will", "should", "expects", "anticipates", "future", "intends", "plans", "projects", "predicts", "believes", "estimates", "forecasts", "may" and similar statements which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may differ materially from actual results due to a variety of factors including other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed under the caption "Risk Factors" in our most recent quarterly report on Form 10-Q and other filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events, except as may be required by law.
About Montage Technology
Montage Technology is a global fabless provider of analog and mixed-signal semiconductor solutions currently addressing the home entertainment and cloud computing markets. In the home entertainment market, Montage's technology platform enables the company to design highly integrated end-to-end solutions with customized software for set-top boxes. These solutions optimize signal processing performance under demanding operating conditions typically found in emerging marketing environments. In the cloud computing market, Montage offers high performance, low power memory interface solutions that enable memory intensive server applications. Its technology platform approach allows Montage to provide integrated solutions that meet the expanding needs of customers through continuous innovation, efficient design and rapid product development. For more information regarding Montage please visit the company's website at www.montage-tech.com .
| Company Contact: |
| Montage Technology |
| Mark Voll, CFO |
| P: 408-982-2780 or 86-21-6128-5678 x8616 |
| E: ir@montage-tech.com |
| Investor Relations Contact: |
| Shelton Group |
| Leanne Sievers, EVP |
| P: 949-224-3874 |
| E: lsievers@sheltongroup.com |
| Matt Kreps, Managing Director |
| P: 972-239-5119 ext. 125 |
| E: mkreps@sheltongroup.com |
