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integrated device tech inc (IDTI) Key Developments

Integrated Device Technology, Inc. Announces Consolidated Unaudited Earnings Results for the First Quarter Ended June 29, 2014; Provides Earnings Guidance for the Second Quarter of Fiscal 2015

Integrated Device Technology, Inc. announced consolidated unaudited earnings results for the first quarter ended June 29, 2014. For the quarter, the company reported revenues of $126,302,000 against $117,464,000 a year ago. Operating income was $16,500,000 against $1,345,000 a year ago. Income from continuing operations before income taxes was $17,362,000 against $1,402,000 a year ago. Net income from continuing operations was $17,111,000 or $0.11 per basic and diluted share against $1,501,000 or $0.01 per basic and diluted share a year ago. Net income was $21,843,000 or $0.15 per diluted share against net loss of $2,264,000 or $0.02 per basic and diluted share a year ago. Non-GAAP net income from continuing operations was $26,652,000 or $0.17 per diluted share against $10,595,000 or $0.07 per diluted share a year ago. Non-GAAP net income for the fiscal first quarter of 2015 was $26.7 million or $0.17 per diluted share, compared with non-GAAP net income of $10.6 million or $0.07 per diluted share reported in the same period one year ago. Revenue results and outlook are being driven by broad-based strength across all 3 of target market segments. Cash from operations and free cash flow continued to be strong. The company generated approximately $24 million in cash from operations while utilizing approximately $5 million for capital expenditures. For the second quarter of fiscal 2015, the company expects revenue to come in between $130 million and $136 million. The company project gross margin to be 61.2%, plus or minus 50 basis points on a non-GAAP basis. The company project non-GAAP operating expenses will be approximately $52 million, plus or minus $1 million. R&D is expected to be approximately $29 million and SG&A spending approximately $23 million. Non-GAAP operating margin is estimated to be approximately 22% at the mid-point of guidance range. The company currently anticipates interest and other income will be about $500,000, and the effective tax rate for the quarter will be 4%. The company project non-GAAP EPS for the September quarter to be between $0.17 and $0.19 per share. The company expects cash flow from operations to be approximately $30 million.

Integrated Device Technology, Inc. Announces IDT Wireless Power Receiver Incorporates on LG's Latest G3 Smartphone

Integrated Device Technology, Inc. announced that an IDT wireless power receiver was incorporated on LG's latest G3 smartphone. The two companies worked together closely to integrate the IDTP9025A chip, which delivers a compact size and simplified application circuit. The LG G3 smartphone is winning rave reviews globally for its feature set in a compact form. Part of IDT's wireless power portfolio, the IDTP9025A is a fully integrated, single-chip wireless power receiver supporting the Wireless Power Consortium's 1.1 standard. It utilizes a high-efficiency low-dropout regulator (LDO)-based architecture to minimize component count. In addition, its optimized control logic minimizes power losses to ensure efficient power delivery to the load. The space- and cost-optimized wireless power receivers are ideal for wireless handsets, cell phone sleeves, and tablets.

Integrated Device Technology, Inc. Announces Offering of 1.5 Volt PCI Express Clock Buffer Family

Integrated Device Technology, Inc. announced the expansion of its PCIe timing portfolio with the 1.5 V PCI Express (PCIe) buffer family. IDT's new U-series ultra-low power PCIe buffers operate from the same supply voltage as modern systems-on-chip (SoCs) and field programmable gate arrays (FPGAs), enabling designers to use the same power rail, thus reducing system complexity, physical size, and power consumption. The 9DBU buffers are offered in 2 to 9-output configurations to address virtually any PCIe application. Both non-PLL fan out and PLL zero-delay-buffer modes are supported. Device options include external or internal terminations, allowing designers to choose between maximum flexibility with external termination circuitry, or maximum space savings using internal terminations. The entire family operates from a 1.5 V supply, resulting in the industry's lowest power consumption for PCIe timing devices, with eight-output devices using a mere 40 mille-watts reducing cooling requirements and lowering operating costs. The 1.5 V U-series devices are pin-compatible with IDT's widely-adopted 1.8 V V-series, allowing for easy substitution as SoC operating voltages continue to drop. The 9DBU buffers are compliant with PCIe Gen 1, 2, and 3 so designers can use the same component through several generations of product. The IDT 9DBU buffers are currently sampling to qualified customers. They are available in standard VFQFPN packages ranging from 4 x 4 mm to 6 x 6 mm.

Integrated Device Technology, Inc. Announces 2-Watt Wireless Power Receiver for Wearable Devices

Integrated Device Technology, Inc. announced the 2-watt wireless power receiver and battery charger, delivering technology in a compact package ideal for small form factors, including wearable applications. The IDTP9026 offers a high level of integration and lower external component count than competitive products, enabling designers to minimize board area and bill of materials. The device has a solution size requirement of less than 30 square millimeters, compared to 65 square millimeters for other available solutions. The chip is fully compliant with the Wireless Power Consortium's (WPC-1.1) standards. Part of IDT's rapidly growing wireless power receiver product family, the IDTP9026 is a single-chip solution that utilizes patented technology to eliminate the need for many passive components traditionally required, helping OEMs cut costs while reducing overall application area without sacrificing performance. The product's I(2) C interface allows programming of the charging current, charging voltage, termination current and the thermal control loop for maximum flexibility and control. Readings back from I(2) C include die and battery temperature, charging current and voltage, which can be used for custom control schemes or by the system's application and user interface. To complete the system, IDT recommends the IDTP9038 the industry's first Qi-compliant single-chip wireless power transmitter supporting a 5V input. The two devices are fully compatible and are supported by IDT's extensive design-in collateral and experience. Product Availability and Pricing IDTP9026 samples are currently available for select customers.

Integrated Device Technology, Inc. to Report Q1, 2015 Results on Jul 28, 2014

Integrated Device Technology, Inc. announced that they will report Q1, 2015 results at 3:00 PM, Eastern Standard Time on Jul 28, 2014


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