Exhibit 99.1
     
Editorial Contact
  Investor Relations Contact:
Gwen Carlson
  Ryan Bright
Conexant Systems, Inc.
  Shelton Group
(949) 483-7363
  (972) 239-5119, ext. 159
CONEXANT REPORTS FINANCIAL RESULTS FOR THE
FOURTH QUARTER OF FISCAL 2008
Core Net Income Hits High-end of Guidance Updated in September
     NEWPORT BEACH, Calif., Oct. 30, 2008 —
Conexant Systems, Inc. (NASDAQ: CNXT) today announced financial results for the fourth quarter of fiscal 2008 that met the updated guidance provided on Sept. 30, 2008 when the company increased its earnings outlook.
Fourth Fiscal Quarter Financial Results
     Conexant presents financial results based on Generally Accepted Accounting Principles (GAAP) as well as select non-GAAP financial measures intended to reflect its core results of operations. The company believes these core financial measures provide investors with additional insight into its underlying operating results. Core financial measures exclude non-cash and other non-core items as fully described in the GAAP to non-GAAP reconciliation in the accompanying financial data.
     On August 11, 2008 Conexant announced that it completed the sale of its Broadband Media Processing (BMP) product lines to NXP Semiconductors. The financial results of the BMP business unit are classified as discontinued operations in the company’s financial statements for all periods.
     Excluding results from discontinued operations, revenues for the fourth quarter of fiscal 2008 were $122.6 million. Core gross margins were 54.5 percent of revenues. Core operating expenses were $47.0 million, and core operating income was $19.9 million. Core net income was $13.0 million, or $0.26 per diluted share.
     On a GAAP basis, gross margins were 54.1 percent of revenues. GAAP operating expenses were $57.2 million. GAAP operating income was $9.2 million, and GAAP net loss

 


The following information was filed by Conexant Systems Inc (CNXT) on Thursday, October 30, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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