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SAN JOSE, Calif. — Integrated Device Technology, Inc., the Analog and Digital Company delivering essential mixed-signal semiconductor solutions, today announced results for the fiscal first quarter ended July 1, 2012.
“Strong sequential revenue growth, combined with better than expected gross margins, drove improved top and bottom line results for the fiscal first quarter,” said Dr. Ted Tewksbury, president and CEO of IDT. “Our Q1 results reflect improving trends primarily in our communications infrastructure and consumer end markets, and our stronger than anticipated gross margins resulting from favorable product mix enabled us to deliver EPS that was $0.02 better than our prior projections.”
Revenue from continuing operations for the fiscal first quarter of 2013 was $130.2 million, compared with $149.3 million reported in the same period one year ago.
GAAP net income from continuing operations for the fiscal first quarter of 2013 was $0.5 million, or $0.00 per diluted share, versus GAAP net income of $12.8 million or $0.08 per diluted share in the same period one year ago. Fiscal first quarter 2013 GAAP results include $7.8 million in benefits from tax effects, life insurance proceeds and net impact of deferred compensation plan, $12.5 million in acquisition and restructuring related charges, $3.1 million in stock-based compensation and $2.6 million in expenses related to stockholder activities.
Non-GAAP net income from continuing operations for the fiscal first quarter of 2013 was $11.0 million or $0.08 per diluted share, compared with non-GAAP net income from continuing operations of $23.8 million or $0.16 per diluted share reported in the same period one year ago.
The company that tried to set up a commodities market for DRAM? Enron! I reported on Enron's efforts to set up the exchange and later its demise. DRAM didn't die but you are sure right about the direction of pricing in the market. Down.
“DRAM Pricing: Down Now, up Tomorrow?”
Todd, any supporting evidence for this statement. Is there any decline in production or shortage of DRAM in market? In such cases obviously the price can shoot up.
Moore's Law to a “T”!!!!
Jacob, I do not see any shortage within the DRAM market; I say “up” a tad because of normal 2nd half buying patterns over the last few years. Gotta sell those PCs at Christmas.
re : Bolaji:
You remember that? Most don't. Being in the same town with us, they visited and spoke with us several times. I never understood how they figured it could work, as memory isn't really a theoretical market. But if a company can commodify weather, they thought they could force it into existence…. Followed by buckaroo.com and a few others.