Mindspeed Technologies, Inc (MSPD) SEC Filing 10-Q Quarterly report for the period ending Friday, March 29, 2013

Exhibit 99.1

Mindspeed Reports Preliminary Fiscal Second Quarter 2013 Results

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--April 30, 2013--

Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for communications infrastructure applications, today reported preliminary results for its fiscal second quarter of 2013. The preliminary results are subject to change based on the conclusion of goodwill and asset impairment testing being undertaken by Mindspeed. For the quarter ended March 29, 2013, Mindspeed recorded net revenue of $35.4 million, a loss per share of $0.02 on a non-GAAP basis, and a loss per share of $1.00 on a GAAP basis (assuming a preliminary estimate of $33.5 million in goodwill and asset impairment charges, as discussed below).

Revenue from high-performance analog (HPA) products was $15.7 million, or 44 percent of fiscal second quarter 2013 net revenue, and was approximately flat in the same period year-over-year. Revenue from communications processors was $17.1 million, or 49 percent of net revenue, and was approximately flat in the same period year-over-year. Wireless infrastructure revenue contributed $2.6 million in the quarter, or approximately 7 percent of total revenue, and was up 16 percent over the same period year-over-year.

Non-GAAP operating loss for the fiscal second quarter of 2013 was approximately $541,000, compared to a non-GAAP operating loss of $4.9 million for the same period in the prior fiscal year. GAAP operating loss for the fiscal second quarter of 2013 was $39.4 million (assuming preliminarily estimated goodwill and asset impairment charges), compared to a GAAP operating loss of $13.8 million for the same period in the prior fiscal year. Non-GAAP net loss for the fiscal second quarter of 2013 was $978,000, or $0.02 per share, compared to a non-GAAP net loss of $5.2 million, or $0.14 per share, for the same period in the prior fiscal year. GAAP net loss in the fiscal second quarter of 2013 was $40.1 million (assuming preliminarily estimated goodwill and asset impairment charges), or $1.00 per share, compared to a GAAP net loss of $14.2 million, or $0.39 per share, for the same period in the prior fiscal year.

In the fiscal second quarter of 2013, Mindspeed performed a review of its goodwill, long-lived assets and indefinite-lived assets to determine if any of these assets were impaired. As a result of this review, Mindspeed currently estimates that it will record an impairment charge of $33.5 million in the fiscal second quarter of 2013 related to its wireless infrastructure reporting unit. Mindspeed expects the impairment testing to be complete prior to filing its Form 10-Q for the fiscal second quarter of 2013. Final goodwill and asset impairment charges as reflected in the Form 10-Q could differ materially from Mindspeed’s preliminary estimates. Any change in goodwill and asset impairment charges would be expected to result in a corresponding change in Mindspeed’s GAAP net loss compared to the preliminary results reported today. Revenue, non-GAAP metrics and our cash and cash equivalents balance will not change as a result of any change in the company’s current estimates of goodwill and asset impairment charges.

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The following information was filed by Mindspeed Technologies, Inc (MSPD) on Tuesday, April 30, 2013 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.