News Column

IDT Posts 1st Quarter Fiscal Year 2015 Financial Results

July 31, 2014

Integrated Device Technology (IDT), on July 28, reported results for the fiscal first quarter ended June 29.

"We are off to a strong start in fiscal 2015 with our first fiscal quarter results demonstrating consistently improving financial performance across all key metrics," said Greg Waters, president and chief executive officer. "Underpinning these results was strength and market share gains across all of our end markets; revenue from our Communications, Computing, and Consumer end markets all grew sequentially in the quarter. In our Communications end market, strength in the quarter was driven by our RapidIO solution, Timing products, and the continued ramp of our RF solutions, all of which are benefiting from the ongoing global buildout of 4G/LTE. In our Computing end market, we benefitted from the DDR3 to DDR4 transition underway in Memory Interface, where we have market- leading solutions designed in with all key customers. In our Consumer end market, our wireless power business is strong and growing. Our recently announced design win with LG is an industry milestone, where a major Smartphone supplier has embedded Wireless Charging in their flagship models. We remain in the center of this exciting and fast-developing market."

"Looking ahead we are confident in our ability to continue executing on our growth strategy with all key areas of our business contributing to that growth," concluded Waters.

Recent Business Highlights

-IDT revealed that LG Electronics had built into its flagship G3 smartphone an IDT wireless power receiver. The two companies worked together closely to integrate the chip, which delivers a compact size and simplified application circuit.

-IDT announced world's smallest 2-watt wireless power, delivering leading technology in a compact package ideal for wearable applications.

-IDT's IDTP9021 wireless power receiver was recognized by China'sElectronic Engineering & Product World (EEPW) magazine with the best power management product award.

-Focused on wireless communications systems, IDT introduced the F1650 Modulator, its latest RF signal path solution, delivering the industry's lowest power consumption and highest linearity for today's wireless products.

-Building on its leadership in RapidIO, IDT announced its collaboration with eSilicon Corp. to expedite development of next- generation RapidIO switches for new system architectures.

-IDT expanded its leading PCIe timing portfolio with the release of the industry's first 1.5 V PCI Express (PCIe) timing buffers, enabling designers to reduce system complexity, physical size, and power consumption.

-The Company won an EDN China Innovation Award for its Universal Frequency Translator, an ultra-high-performance programmable timing device that won an EE Times ACE Award three months earlier.

-IDT announced that it has shipped over 1 million DDR4 registers, the result of growing demand for the next generation of DRAM modules, including RDIMMs and LRDIMMs.

Integrated Device Technology develops system-level solutions to optimize its customers' applications.

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Source: Professional Services Close - Up

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