FREMONT, Calif. -- Exar Corporation (Nasdaq: EXAR), a leading provider of high-performance, mixed-signal silicon solutions for the worldwide communications infrastructure, today reported fiscal 2002 fourth quarter and year end operating results. Revenue for the fiscal year ended March 31, 2002 was $55.0 million as compared to $113.0 million for the previous year. Operating loss was $8.9 million versus an operating income of $18.1 million in fiscal 2001. Net income was $4.0 million as compared to $28.4 million for the previous year. For fiscal 2002, EPS was $0.10 per diluted share compared to $0.66 per diluted share for the previous fiscal year. Revenue for the fourth quarter was $15.5 million, up 11% sequentially from $14.0 million in the third quarter of fiscal 2002 and down from $21.6 million for the same period last year. Fourth quarter operating loss was $1.5 million compared to a loss of $2.1 million for the previous quarter and operating income of $1.0 million for the same period last year. Net income for the quarter was $0.9 million, as compared to $0.4 million for the previous quarter and $5.0 million for the fourth quarter fiscal 2001. For the quarter, EPS was $0.02 per diluted share compared to $0.01 for the previous quarter and down from $0.12 per diluted share for the same period last year. "Despite the market downturn over the past year, Exar has delivered three quarters of sequential revenue growth, generated positive quarterly cash flows, and maintained net profitability," said Donald L. Ciffone, chairman, president and chief executive officer. "Exar has leveraged its T/E carrier expertise to enter the SONET/SDH data aggregation market and extended our T/E product portfolio to include multi-channel and multi-function single chip solutions. This expanded product portfolio has enabled the Company to increase the number of design wins and achieve traction with key telecom equipment suppliers. Our execution in bringing new products to market and strong design win momentum positions the Company for solid growth as the overall market recovers." Exar Corp.