Mindspeed Technologies, Inc (MSPD) SEC Filing 10-K Annual report for the fiscal year ending Friday, October 1, 2010

Exhibit 99.1

Mindspeed Reports Fiscal Fourth Quarter 2010 Results

Delivers Record Product Revenue and Earnings

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--November 1, 2010--Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for network infrastructure applications, today reported results for its fiscal fourth quarter of 2010, which ended on October 1, 2010.

Fiscal Fourth Quarter 2010 Financial Highlights:

• Total Revenue: $57.6 million, including patent sales of $12.8 million; excluding patent sales, product revenue was $44.8 million, up 3.6 percent from the prior fiscal quarter.
• Non-GAAP Gross Margin: 71.4 percent; excluding patent sales, non-GAAP gross margin was 64.0 percent; GAAP Gross Margin: 71.3 percent.
• Non-GAAP Diluted Earnings per Share: $0.46; excluding patent sales, non-GAAP diluted earnings per share was $0.19; GAAP Diluted Earnings per Share: $0.38.
• Generated approximately $9.6 million of cash; the company ended the fiscal fourth quarter of 2010 with cash totaling $43.7 million.

Revenues for the fiscal fourth quarter of 2010 were $57.6 million. Excluding patent sales of $12.8 million, product revenues were $44.8 million and increased sequentially by 3.6 percent from product revenues of $43.3 million in the prior fiscal quarter and increased year-over-year by 29 percent from revenues of $34.7 million in the fiscal fourth quarter of 2009.