January 2007

Seiko Epson Corp and Fujitsu have announced the results of their joint project to develop next-generation ferrorelectric random access memory (FRAM) technology. The joint development project was successfully completed recently and produced the anticipated results.

Through the project, the two companies developed technology for forming, processing and evaluating a new ferroelectric (PZT) film and created FRAM memory core process technology that is highly integrated (four times the level of conventional FRAM), features high performance (read/write speeds over three times faster than conventional FRAM) and offers a high degree of reliability (capable of more than 100 trillion read/write cycles). FRAM is currently attracting attention as a technology for secure memory, and this level of performance is claimed to be a world first. Since the ferroelectric process can be added to existing CMOS logic processes, it will be suitable for the development of mass production technologies.

Grandis announced it has appointed Farhad Tabrizi as the company's president and chief executive officer (CEO). Tabrizi assumes the position from William Almon, Grandis co-founder, who remains a major shareholder.

“I am pleased to be joining a company with leading-edge memory developments supported by top industry technologists. Based on my experience in semiconductor memory, I see that its existing cell architectures are quickly reaching their technology limits. Compared to competitive alternatives, I sincerely feel STT-RAM (spin-transfer torque RAM technology) has the best potential for becoming the next generation unified memory architecture, replacing SRAM, NOR, DRAM and eventually NAND. Our initial prototype looks highly promising, and we will soon be ready to go to market, said Tabrizi.

Product sales for the quarter increased 95% over the prior-year quarter to $3.40 million from $1.74 million. Total revenue, consisting of product sales and contract research and development revenue, increased 48% to $3.86 million for the third quarter of fiscal 2007 from $2.61 million in the prior-year quarter. Net income for the third quarter of fiscal 2007 was $1.05 million, or $0.22 per diluted share compared to $401,385, or $0.09 per diluted share, for the prior-year quarter.

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Freescale Semiconductor, a global leader in the design and manufacture of embedded semiconductors, today announced it was honored with an Electronic Products' Product of the Year award for its 4 Mbit MR2A16A magnetoresistive random access memory (MRAM) device. Freescale's successful commercialization of this memory technology could hasten new classes of electronic products offering dramatic advances in size, cost, power consumption and system performance.

"The MR2A16A's unique combination of high-speed reading and writing, unlimited cycling and non-volatility made the Freescale device a clear, standout choice for our Product of the Year award," said Jim Harrison, West Coast editor of Electronic Products magazine. "The first memory product of its kind, the MR2A16A fulfills the commercial promise of MRAM technology. Freescale's MRAM product is simpler, more cost-effective and more reliable than other memories since no battery is needed to ensure non-volatility."