Atmel Reports First 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)

                                            March 31,    December 31,
                                              2009           2008
                                              ----           ----
    Current assets
    Cash and cash equivalents                $384,989     $408,926
    Short-term investments                     31,897       31,707
    Restricted cash                            17,272            -
    Accounts receivable, net                  172,943      184,698
    Inventories                               244,870      324,016
    Current assets held for sale              115,879            -
    Prepaid and other current assets           47,333       77,542
                                               ------       ------
    Total current assets                    1,015,183    1,026,889
    Fixed assets, net                         175,096      383,107
    Goodwill                                   50,039       51,010
    Intangible assets, net                     32,362       34,121
    Non-current assets held for sale          181,833            -
    Other assets                               36,419       35,527
                                               ------       ------
    Total assets                           $1,490,932   $1,530,654
                                           ==========   ==========

    Current liabilities
    Current portion of long-term debt        $127,221     $131,132
    Trade accounts payable                     82,933      116,392
    Accrued and other liabilities             138,288      207,017
    Current liabilities held for sale          64,537            -
    Deferred income on shipments to
     distributors                              39,675       41,512
                                               ------       ------
    Total current liabilities                 452,654      496,053
    Long-term debt less current portion        11,999       13,909
    Long-term liabilities held for sale        12,138            -
    Other long-term liabilities               209,031      218,608
                                              -------      -------
    Total liabilities                         685,822      728,570
                                              -------      -------

       Stockholders'  equity                                            805,110            802,084
                                                                                            -------            -------
        Total  liabilities  and  stockholders'
          equity                                                                $1,490,932      $1,530,654
                                                                                      ==========      ==========



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

                                                                                          Three  Months  Ended
                                                                                          -------------------
                                                                            March  31,            December  31,  March  31,
                                                                                2009                          2008              2008
                                                                                ----                          ----              ----


        Net  revenues                                            $271,493              $334,610      $411,237

        Operating  expenses
        Cost  of  revenues                                      176,088                201,659        265,183
        Research  and  development                        52,557                  61,859          66,377
        Selling,  general  and
          administrative                                          54,918                  77,163          63,562
        Acquisition-related  charges                    5,499                    6,504            3,711
        Charges  for  (credit)  from
          grant  repayments                                            765                        254              (119)
        Restructuring  charges                                2,352                    8,115          27,908
        Gain  on  sale  of  assets                                (164)                (2,706)      (30,758)
                                                                                    ----                  ------        -------
        Total  operating  expenses                      292,015                352,848        395,864
                                                                              -------                -------        -------
        (Loss)  income  from  operations            (20,522)              (18,238)        15,373
                                                                              -------                -------          ------

        Interest  and  other  expense,  net          (3,545)                (2,590)        (5,387)
                                                                                ------                  ------          ------
        (Loss)  income  before
          income  taxes                                            (24,067)              (20,828)          9,986
        Income  tax  benefit  (provision)            27,693                  (3,524)        (3,198)
                                                                                ------                  ------          ------
        Net  income  (loss)                                      $3,626              $(24,352)        $6,788
                                                                                ======              =========        ======

        Basic  net  income  (loss)  per  share:
        Net  income  (loss)                                        $0.01                  $(0.05)          $0.02
                                                                                  =====                  ======            =====
        Weighted-average  shares  used  in
          basic  net  income  (loss)  per
          share  calculations                                449,685                448,524        444,670
                                                                              =======                =======        =======
        Diluted  net  income  (loss)  per
          share:
        Net  income  (loss)                                        $0.01                  $(0.05)          $0.02
                                                                                  =====                  ======            =====
        Weighted-average  shares  used  in
          diluted  net  income  (loss)  per
          share  calculations                                456,431                448,524        447,643
                                                                              =======                =======        =======



                                                            Atmel  Corporation
              Reconciliation  of  GAAP  Net  Income  (Loss)  to  Non-GAAP  Net  Income
                                      (In  thousands,  except  per  share  data)
                                                                (Unaudited)

                                                                              Three  Months  Ended
                                                                              -------------------
                                                                    March  31,      December  31,    March  31,
                                                                        2009                    2008              2008
                                                                        ----                    ----              ----


            GAAP  net  income  (loss)            $3,626              (24,352)          6,788

            Special  items:
            Stock-based  compensation
              expense                                          5,382                  9,050            6,307
            Acquisition-related  charges    5,499                  6,504            3,711
            Charges  for  (credit)  from
              grant  repayments                            765                      254              (119)
            Restructuring  charges                2,352                  8,115          27,908
            Gain  on  sale  of  assets                (164)              (2,706)      (30,758)
            Pension  benefit  related
              to  fab  sale                                          -                (4,267)                  -
            Distributor  bad  debt
              expense  (recovery)                  (2,000)              11,717                    -
            Unsolicited  M&A  expense            4,934                  1,244                    -
            Income  tax  effect  of
              non-GAAP  items                              (322)                  (784)            (500)
                                                                        ----                    ----              ----
            Total  special  items                  16,446                29,127            6,549
                                                                    ------                ------            -----
            Non-GAAP  net  income                $20,072                $4,775        $13,337
                                                                  -------                ------        -------

            Diluted  non-GAAP  net
              income  per  share:
            Net  income                                      $0.04                  $0.01            $0.03
                                                                      =====                  =====            =====
            Non-GAAP  weighted-
              average  shares  used  in
              diluted  non-GAAP  net
              income  per  share
              calculations                            467,126              466,901        453,100
                                                                  =======              =======        =======


            Reconciliation  of  GAAP
              to  non-GAAP  shares
              used  in  diluted
              income  per  share
              calculations:                                      Three  Months  Ended
                                                                              -------------------
                                                                    March  31,    December  31,    March  31,
                                                                      2009                    2008              2008
                                                                      ----                    ----              ----
            Diluted  weighted-average
              shares  used  in  per  share
              calculations  -  GAAP              456,431              448,524        447,643
            Dilutive  stock  awards              10,695                18,377            5,457
                                                                    ------                ------            -----
            Diluted  weighted-average
              shares  used  in  per  share
              calculations  -  non-GAAP      467,126              466,901        453,100
                                                                  =======              =======        =======
 





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