Exhibit 99.1

Spansion Inc. Reports Third Quarter 2013 Results

Sunnyvale, California, October 31, 2013 -- Spansion Inc. (NYSE: CODE), a global leader in embedded systems solutions, today announced operating results for its third quarter ended September 29, 2013.

On a U.S. GAAP basis, Spansion reported third quarter net sales of $273.4 million, gross margin of 20.5%, operating loss of $43.0 million and net loss of $36.9 million. The GAAP operating loss includes $36.0 million of acquisition related costs and purchase accounting inventory markup.

On a non-GAAP basis, net sales totaled $274.9 million, gross margin was 35.4%, operating income was $25.2 million and net income was $16.6 million.

For a reconciliation of GAAP to non-GAAP results, see accompanying tables “Reconciliation of U.S. GAAP to Non-GAAP Financial Measures” below.

Third Quarter 2013 Financial Highlights:

Note: Percentages may not calculate precisely due to rounding.

Third Quarter 2013 Business Highlights: 

"The third quarter played out as expected. Our financial results were in line with our expectations, and we closed the acquisition of the Microcontroller and Analog/Mixed Signal business from Fujitsu in a timely and efficient manner," said John Kispert, CEO of Spansion.  "Design win momentum continues to grow across all of our embedded markets. Looking forward, we will continue to focus on execution, customer service and innovation across our microcontrollers, Flash memory and analog/mixed signal product portfolio to enable differentiation in the automotive, industrial, communications and consumer segments." 

Quarterly Conference Call and Accompanying Slide Presentations

Spansion will host a conference call Thursday, October 31, 2013, at 1:30 PM PT/ 4:30 PM ET to discuss its third quarter 2013 results. A live webcast of the conference call, with accompanying slide presentations, may be accessed through the investor relations section of Spansion’s website at http://investor.spansion.com/.

Dial-in: 1-866-318-8615 (toll free), 1-617-399-5134 (International), Passcode: 30735889

An audio replay will be available within two hours of the call through November 7, 2013 and may be accessed via dial-in at 1-888-286-8010 (US), 1-617-801-6888 (International), with the Passcode 92952187 or by webcast on the investor relations section of Spansion's website at http://investor.spansion.com/.

Third Quarter 2013 Results

 U.S. GAAP Results, in $millions except per share data and percentages

Non-GAAP Results, in $millions except per share data and percentages

Note: Percentages may not calculate precisely due to rounding.

Business Outlook

For the fourth quarter of 2013, Spansion estimates U.S. GAAP net sales in the range of $305 million to $335 million and GAAP diluted net income per share of ($0.37) to ($0.33). Non-GAAP gross margin is expected to be in the range of 30.5% to 32.5%, and non-GAAP diluted EPS is expected to be in the range of $0.17 to $0.23. These estimates exclude amortization of intangibles of approximately $10 million, and stock compensation expense of approximately $1 million in COGS and $7 million in Net Income. These estimates also exclude charges related to the acquisition of the Fujitsu Microcontroller and Analog business including (i) $10 million to $12 million in inventory markup related to fair value accounting, (ii) $2 million to $3 million in integration related cost, and (iii) up to $1 million in financing cost, and one time items consisting of $1 million to $2 million in charges related to business alignment. 

About Spansion

Spansion (NYSE: CODE) is a global leader in embedded systems solutions. Spansion’s Flash memory, microcontrollers, analog and mixed-signal products drive the development of faster, intelligent, secure and energy efficient electronics. Spansion is at the heart of electronics systems, connecting, controlling, storing and powering everything from automotive electronics and industrial systems to the highly interactive and immersive consumer devices that are enriching people's daily lives. For more information, visit http://www.spansion.com.

Spansion®, the Spansion logo, MirrorBit®, MirrorBit® Eclipse™ and combinations thereof, are trademarks and registered trademarks of Spansion LLC in the United States and other countries. Other names used are for informational purposes only and may be trademarks of their respective owners.

Cautionary Statement

This presentation contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those statements. The risks and uncertainties include statements related to the acquisition of the Fujitsu Microcontroller and Analog business including the possibility that anticipated benefits, growth prospects and synergies expected from the acquisition may not be fully realized or may take longer to realize than expected; the accretive nature of the transaction, including incremental margin, EBITDA and EPS estimates for future periods; estimations and variations in market growth and demand for the acquired products and technologies; delays, disruptions, costs and challenges associated with integrating the new business into the Company’s existing business, including changing relationships with partners, customers, employees or suppliers; the amount of costs incurred in connection with supporting and integrating the new business and supporting new customers and partners; ongoing personnel and logistical challenges of managing the new combined organization; our ability to retain and motivate key employees from Fujitsu; and general economic and business conditions. Other risks and uncertainties include: the success of the Company’s plan to focus primarily on the embedded solutions market; the ability to improve our gross margins and to continue to successfully implement our cost reduction efforts; the ability to grow revenue; the ability to maintain a competitive cost and expense structure; the ability to maintain a strong product portfolio; the ability to control operating expenses, particularly our sales, general and administrative costs; the ability to retain and expand our customer base in focus markets, and retain and grow our share of business within our customer base; the ability to penetrate further the embedded solutions market with our high density products and expand the number of customers in emerging markets; and the ability to successfully develop and transition to the latest technologies. In addition, the instability of the global economy and tight credit markets could continue to adversely impact our business in several respects, including adversely impacting credit quality and insolvency risk of the Company and its customers and business partners, including suppliers and distributors; bookings; and reductions and deferrals of demand for our products. We urge investors to review in detail the risks and uncertainties discussed in the company's Securities and Exchange Commission filings, including but not limited to our Annual Report on Form 10-K for the fiscal year ended December 30, 2012 and our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2013 and June 30, 2013. Unless otherwise required by applicable laws, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Spansion Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(In thousands, except per share amounts)

Spansion Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(In thousands except par value and shares)

Spansion Inc.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(In thousands)

Use of Non-GAAP Financial Information

To provide investors and others with additional information regarding Spansion’s operating results, we have disclosed in this press release certain non-GAAP financial measures, including gross profit, operating income, net income, and adjusted EBITDA. These non-GAAP financial measures are a supplement to, and not a substitute for or superior to, the company’s results presented in accordance with U.S. GAAP.

The non-GAAP financial measures are provided to enhance the user’s overall understanding of the company’s operating performance. Specifically, the company believes the non-GAAP information provides useful measures to investors regarding the company’s financial performance by excluding certain expenses that the company believes are not indicative of its core operating results. For more information on non-GAAP financial measures, please see the reconciliations of such measures in the tables of this release.

Management believes these non-GAAP financial measures reflect Spansion’s ongoing business in a manner that allows for meaningful period-to-period comparison and analysis of trends in Spansion’s business, as they exclude expenses that are not reflective of ongoing operating results and provide useful information to investors and others in understanding and evaluating Spansion’s operating results and future prospects in the same manner as management. During the quarter ended September 29, 2013 the presentation of non-GAAP financial information included the addition of interest expense, taxes, depreciation, amortization and stock compensation expense to the net income. Further adjustments due to revenues lost due on Microcontroller and Analog business, acquisition related expense, gain on acquisition, inventory mark-up amortization, financing costs, restructuring charges and others attempt to exclude items that are either non-cash or non-recurring in nature.

Reconciliation of U.S. GAAP to Non-GAAP Financial Measures

Net Sales to Non-GAAP Net Sales

Operating Income (Loss) to Non-GAAP Operating Income

Net Income (Loss) to Non-GAAP Net Income and Adjusted EBITDA

Note: Totals may not add precisely due to rounding.

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