"While this first-time loss for Cyrix is a tremendous disappointment, and it will put us into default of covenants contained in our credit agreements, we have taken action to close out the 486 business and begin 1996, a year that will depend almost entirely on the market strength of the 6x86™ processor," said Cyrix president and CEO Jerry Rogers. "We can now concentrate on producing and selling as many 6x86 processors as possible in 1996."
Cyrix Corporation, headquartered in Richardson, Texas, is a leading supplier of high-performance processors to the personal computer industry. Founded in 1988, the Company designs, manufactures and markets innovative, x86 software-compatible processors for the desktop and mobile computer markets. The financial report of Company operations for the December 31, 1995 quarter will be distributed on January 18, 1996, after the close of the market.