Microsemi Corp, making high-reliability discrete semiconductors, surface mount assemblies and providing high-reliability screening and testing services for the electronics, computer, telecommunications, defence, aerospace and medical markets in Santa Ana, California warns that a loan from a related party may not be available, and that it therefore believes it to be prudent to take immediate steps to reduce cash outflows. The company has been experiencing cash shortages as a result of some non-recurring payments as well as continuing new cash requirements from some operating units. It is therefore cutting its staff and plans sales or liquidations of non-performing business units, inventory reductions and other cost reductions.It may also do sale and leaseback deals, look for finance on its equipment, or offer new shares.
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