Peregrine Ships 2 Billionth UltraCMOS® RF Chip and Celebrates 25 Years of RF SOI Innovation

  Peregrine Ships 2 Billionth UltraCMOS® RF Chip and Celebrates 25 Years of RF
  SOI Innovation

Business Wire

SAN DIEGO -- October 29, 2013

Peregrine Semiconductor Corp. (NASDAQ: PSMI), founder of RF SOI (silicon on
insulator) and pioneer of advanced RF solutions, today celebrates two
significant milestones – its 25th anniversary of pioneering RF SOI solutions
and the shipment of the two-billionth chip. Peregrine reaches the
two-billionth-chip milestone in an order to Murata Manufacturing Company, the
leading supplier of RF front-end modules for the global mobile wireless
marketplace.

Peregrine’s 25-year anniversary celebration will be held this afternoon at the
Estancia Hotel in La Jolla, Calif., and will bring together individuals and
organizations – such as the Space and Naval Warfare Systems Center (SPAWAR) –
who have been instrumental in the company’s growth. “I am pleased to recognize
the success of Peregrine Semiconductor and the Space and Naval Warfare Systems
Center Pacific’s (SSC Pacific) role in successfully transitioning technology,
originally developed for our warfighters, to commercial applications,” says
Stephen D. Russell, Ph.D., SPAWAR Chief Technology Officer and Director of
Science & Technology. “This highlights the need to make investments in basic
and applied research, in this case engineering materials at the atomic level,
which enables significant, new capabilities offered by UltraCMOS technology
resulting in a revolution in RF communications. This is just one example of
the importance and impact of the research that is performed at SSC Pacific,
which has been fielding new capabilities to the Fleet for more than 70 years.”

From roots in government research-and-development innovation, Peregrine
continues to revolutionize the industry with high-performance, integrated RF
solutions. Peregrine products provide critical communication pathways for
devices used around the globe and beyond – from the Mars Rover to today’s most
advanced smartphones. Peregrine chips have been to seven planets, Pluto and
the Itokawa asteroid. And every day, handheld devices deliver critical
conversations and data using a Peregrine chip.

Highlights of the past 25 years include:

1988 – Peregrine founders Ron Reedy and Mark Burgener and colleague Graham
Garcia, published their advanced SOI research findings in the “IEEE Electron
Device Letters.” This paper served as the foundation for UltraCMOS technology,
a patented, advanced form of SOI.

1990 – Peregrine Semiconductor officially opened its doors for business and
obtained the fundamental UltraCMOS patent from HP and Caltech.

1991 – Naval Ocean  Systems Center (NOSC) and Peregrine signed a Cooperative
Research and Development Agreement (CARDA), allowing Peregrine to
commercialize UltraCMOS technology.

1993 – The company filed its first UltraCMOS patent.

1995 – Peregrine delivered its first 100 chips to Sciteq  Electronics.

1999 – To expand European operations,  the company opened Peregrine
Semiconductor Europe.

2000 – Peregrine shipped its first million-piece order.

2004 – The company entered the handset market.

2005 – Peregrine introduced the patented HaRP™ design technology, enabling
dramatic improvement in harmonic performance, linearity and overall RF
performance.

2008 – Peregrine announced the UltraCMOS DTC technology for mobile antenna
tuning, solving one of the biggest challenges in RF design – antenna impedance
matching.

2011 – The company shipped its one-billionth chip.

2012 – Under the ticker symbol “PSMI,” Peregrine stock began trading on the
NASDAQ. The IPO raised $77 million for the company.

2013 – Peregrine signed a collaborative sourcing and licensing agreement with
Murata Manufacturing Company and shipped its two-billionth chip. Today, the
company introduces UltraCMOS 10 technology and celebrates 25 years of RF SOI
innovation.

Reflecting on the past 25 years, Jim Cable, CEO of Peregrine Semiconductor
says, “Today, we honor and recognize the contributions of our employees, the
support of our industry partners, and the trust and confidence our customers
have shown us. Peregrine is the shining example of a successful transition of
government technology into the commercial sector. Moving forward, our team is
prepared to continue this proud tradition of innovation to address tomorrow’s
challenges.”

Please visit our press kit for a timeline graphic and information on today’s
other news from Peregrine.

USE OF FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements regarding our
management’s future expectations, beliefs, intentions, goals, strategies,
plans and prospects. Such statements constitute “forward-looking” statements
which are subject to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. The achievement of the matters covered by such
forward-looking statements involves risks, uncertainties and assumptions. If
any of these risks or uncertainties materialize or if any of the assumptions
prove incorrect, our actual results, performance or achievements could be
materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such risks and
uncertainties include, but are not limited to, our dependence on a limited
number of customers for a substantial portion of our revenues; intellectual
property risks; intense competition in our industry; our ability to develop
and introduce new and enhanced products on a timely basis and achieve market
acceptance of those products; consumer acceptance of our customers’ products
that incorporate our solutions; our lack of long-term supply contracts and
dependence on limited sources of supply; and potential decreases in average
selling prices for our products.

For further information regarding risks and uncertainties associated with
Peregrine’s business, please refer to the filings that we make with the
Securities and Exchange Commission from time to time, including those set
forth in the section entitled “Risk Factors” in our Form 10-K for the year
ended December 29, 2012, which should be read in conjunction with these
financial results. These documents are available on the SEC Filings section of
the Investor Relations section of our website at http://investors.psemi.com/.
Please also note that forward-looking statements represent our management’s
beliefs and assumptions only as of the date of this press release. Except as
required by law, we assume no obligation to update these forward-looking
statements publicly, or to update the reasons actual results could differ
materially from those anticipated in the forward-looking statements, even if
new information, becomes available in the future.

ABOUT PEREGRINE SEMICONDUCTOR
Peregrine Semiconductor (NASDAQ: PSMI), founder of RF SOI (silicon on
insulator), is a leading fabless provider of high-performance, integrated RF
solutions. Since 1988 Peregrine has been perfecting UltraCMOS® technology – a
patented, advanced form of SOI – to deliver the performance edge needed to
solve the RF market’s biggest challenges, such as linearity. With products
that deliver best-in-class performance and monolithic integration, Peregrine
is the trusted choice for market leaders in automotive, broadband, industrial,
Internet of Things, military, mobile devices, smartphones, space,
test-and-measurement equipment and wireless infrastructure. Peregrine holds
more than 150 filed and pending patents and has shipped 2 billion UltraCMOS
units. For more information, visit http://www.psemi.com.

The Peregrine Semiconductor name, logo and UltraCMOS are registered trademarks
  of Peregrine Semiconductor Corporation in the U.S.A., and other countries.
HaRP is a trademark of Peregrine Semiconductor Corporation in the U.S.A., and
  other countries. All other trademarks mentioned herein are the property of
                           their respective owners.

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Contact:

Peregrine Semiconductor
Elizabeth Brown, 619-993-4648
pr@psemi.com
 
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