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[May 06, 2014]
United States : IDT Reports Q4 and Fiscal Year 2014 Financial Results [TendersInfo (India)]
(TendersInfo (India) Via Acquire Media NewsEdge) Integrated Device Technology, Inc., the Analog and Digital Company delivering essential mixed-signal semiconductor solutions, today announced results for the fiscal fourth quarter and fiscal year ended March 30, 2014.
We concluded fiscal year 2014 on a high note with strong Q4 revenue, non-GAAP operating margin and earnings per share, said Greg Waters, president and chief executive officer. The strength in revenues for the fourth fiscal quarter was primarily driven by sales in our Communications end market as the build-out of global 4G/LTE infrastructure accelerated. Non-GAAP gross margin was slightly impacted by inventory reserves associated with our previous fab closure transition and product mix. However, with our continued focus on expense control, we exceeded our guidance for non-GAAP operating margins and non-GAAP EPS, delivering 19.5% and $0.14 per fully diluted share, respectively.
We have successfully transformed IDT into a company that generates earnings power as our revenue continues to grow, all supported by a very strong balance sheet. We are investing in high-growth markets and believe we can grow market share in all of our target market segments through the course of this fiscal year, concluded Mr. Waters.
Recent Business Highlights Nominated for four prestigious ACE awards, presented by UBM Tech s EE Times and EDN publications, IDT won top prize in the Ultimate Products category for its third generation Universal Frequency Translator (UFT) clocking family. The three other nominations were for the Timing Commander software, an RF-PLL and DDR4 data buffer. IDT announced the mass production of its JEDEC 1.0-compliant DDR4 chipset already validated by Intel® to meet the requirements of the future Intel Xeon processor E5-2600 v3 product family for use in RDIMMs and LRDIMMs. IDT extended its leadership in the timing market with the VersaClock 5 family of programmable clock generators, the best-in-class, complete clock tree solution for cost-sensitive, low-power consumer and low-jitter communication timing applications. IDT introduced the industry s first Ethernet and IEEE 1588 timing devices optimized for smart grid and industrial automation applications. The new low-jitter timing products improve the accuracy and reliability of IEEE 1588 time transport and offer important flexibility with an integrated Ethernet digital PLL (DPLL) and digitally-controlled oscillator (DCO) in a single chip. IDT announced a new family of ultra-compact wireless power receivers offering a board area footprint reduction up to 70% compared to switching regulator-based solutions. The latest Wireless Power Consortium s (WPC) and Power Matter s Alliance (PMA)-compliant devices expand IDT s industry-leading wireless power portfolio to address densely populated, cost-sensitive portable applications.
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