Atmel Reports Second Quarter 2009 Financial Results

    Investor Contact:                 Media Contact:
    Robert Pursel                     Barrett Golden / Sharon Stern
    Director of Investor Relations    Joele Frank, Wilkinson Brimmer Katcher
    408-487-2677                      212-355-4449

                              Atmel Corporation
                     Condensed Consolidated Balance Sheets
                                (In thousands)
                                  (Unaudited)

                                           June 30,  December 31,
                                             2009       2008
                                             ----       ----
    Current assets
    Cash and cash equivalents              $380,871   $408,926
    Short-term investments                   38,482     31,707
    Accounts receivable, net                170,005    184,698
    Inventories                             217,936    324,016
    Current assets held for sale            126,304          -
    Prepaids and other current assets        39,093     77,542
                                             ------     ------
    Total current assets                    972,691  1,026,889
    Fixed assets, net                       167,689    383,107
    Goodwill                                 57,456     51,010
    Intangible assets, net                   32,323     34,121
    Non-current assets held for sale        193,564          -
    Other assets                             27,921     35,527
                                             ------     ------
    Total assets                         $1,451,644 $1,530,654
                                         ========== ==========

    Current liabilities
    Current portion of long-term debt      $107,195   $131,132
    Trade accounts payable                   71,748    116,392
    Accrued and other liabilities           133,156    207,017
    Current liabilities held for sale        57,699          -
    Deferred income on shipments to
     distributors                            30,391     41,512
                                             ------     ------
    Total current liabilities               400,189    496,053
    Long-term debt less current portion      11,520     13,909
    Long-term liabilities held for sale       7,815          -
    Other long-term liabilities             203,539    218,608
                                            -------    -------
    Total liabilities                       623,063    728,570
                                            -------    -------
    Stockholders' equity                    828,581    802,084
                                            -------    -------
    Total liabilities and
     stockholders' equity                $1,451,644 $1,530,654
                                         ========== ==========

                                                             Atmel  Corporation
                                    Condensed  Consolidated  Statements  of  Operations
                                              (In  thousands,  except  per  share  data)
                                                                        (Unaudited)

                                                              Three  Months  Ended                    Six  Months  Ended
                                                              ------------------                    ----------------
                                                    June  30,    March  31,    June  30,      June  30,    June  30,
                                                        2009            2009              2008              2009            2008
                                                        ----            ----              ----              ----            ----


        Net  revenues                    $284,542    $271,493      $420,908      $556,035    $832,145

        Operating  expenses
        Cost  of  revenues              192,718      176,088        267,382        368,806      532,565
        Research  and
          development                        52,186        52,557          68,218        104,743      134,595
        Selling,  general  and
          administrative                  50,882        54,918          68,573        105,800      132,135
        Acquisition-related
          charges                                  3,642          5,499            6,709            9,141        10,420
        Charges  for  grant
          repayments                                249              765                292            1,014              173
        Restructuring  charges        2,470          2,352            8,676            4,822        36,584
        (Gain)  loss  on  sale  of
          assets                                            -            (164)              810              (164)    (29,948)
                                                              ---            -----              ---              -----    --------
        Total  operating
          expenses                            302,147      292,015        420,660        594,162      816,524
                                                      -------      -------        -------        -------      -------
        (Loss)  income  from
          operations                        (17,605)    (20,522)              248        (38,127)      15,621
                                                      --------    --------              ---        --------      ------

        Interest  and  other
          expense,  net                      (4,539)      (3,545)            (859)        (8,084)      (6,246)
                                                        -------      -------            -----        -------      -------
        (Loss)  income  before
          income  taxes                    (22,144)    (24,067)            (611)      (46,211)        9,375
        Income  tax  benefit
          (provision)                          9,737        27,693          (4,296)        37,430        (7,494)
                                                          -----        ------          -------        ------        -------
        Net  (loss)  income          $(12,407)      $3,626        $(4,907)      $(8,781)      $1,881
                                                      ========      ======          =======        =======      ======

        Basic  net  (loss)
          income  per  share:
        Net  (loss)  income              $(0.03)        $0.01          $(0.01)        $(0.02)        $0.00
                                                          ======        =====            ======          ======        =====
        Weighted-average
          shares  used  in  basic
          net  (loss)  income  per
          share  calculations        450,891      449,685        445,793        450,291      445,225
                                                      =======      =======        =======        =======      =======
        Diluted  net  (loss)
          income  per  share:
        Net  (loss)  income              $(0.03)        $0.01          $(0.01)        $(0.02)        $0.00
                                                          ======        =====            ======          ======        =====
        Weighted-average
          shares  used  in
          diluted  net  (loss)
          income  per  share
          calculations                      450,891    456,431        445,793        450,291      450,337
                                                        =======    =======        =======        =======      =======
 


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