Integrated Device Technology, Inc. (IDT®) (NASDAQ: IDTI), the
Analog and Digital Company™ delivering essential mixed-signal
semiconductor solutions, today updated its projections for the fiscal
second quarter of 2012 which were previously provided in its quarterly
earnings call on August 1, 2011.
The Company currently anticipates revenue for the fiscal second quarter
of 2012 to be between $138 million and $141 million, down 7 to 9 percent
sequentially. Prior projections for the fiscal second quarter of 2012
were for revenue to be in the range of $147 million to $153 million.
"The broad-based weakness in customer orders we experienced in the
latter half of the June quarter has continued through September,” said
Dr. Ted Tewksbury, president and CEO of IDT. "In the face of weaker
macro-economic growth and shorter component lead times, many of our
customers have focused on controlling inventory and remain cautious
about placing new orders. This has resulted in lower than anticipated
turns-fill for the September quarter.”
IDT will discuss its financial results for the fiscal second quarter of
2012 and its projections for the third quarter of fiscal 2012 on its
quarterly earnings call currently scheduled for October 31, 2011.
Details for the call will be provided at a later date.
About IDT
Integrated Device Technology, Inc., the Analog and Digital Company™,
develops system-level solutions that optimize its customers’
applications. IDT uses its market leadership in timing, serial switching
and interfaces, and adds analog and system expertise to provide complete
application-optimized, mixed-signal solutions for the communications,
computing and consumer segments. Headquartered in San Jose, Calif., IDT
has design, manufacturing and sales facilities throughout the world. IDT
stock is traded on the NASDAQ Global Select Stock Market® under the
symbol "IDTI.” Additional information about IDT is accessible at www.IDT.com.
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Forward Looking Statements
Investors are cautioned that forward-looking statements in this release,
including but not limited to statements regarding demand for Company
products, anticipated trends in Company sales, expenses and profits,
involve a number of risks and uncertainties that could cause actual
results to differ materially from current expectations. Risks include,
but are not limited to, global business and economic conditions,
fluctuations in product demand, manufacturing capacity and costs,
inventory management, competition, pricing, patent and other
intellectual property rights of third parties, timely development and
introduction of new products and manufacturing processes, dependence on
one or more customers for a significant portion of sales, successful
integration of acquired businesses and technology, availability of
capital, cash flow and other risk factors detailed in the Company’s
Securities and Exchange Commission filings. The Company urges investors
to review in detail the risks and uncertainties in the Company’s
Securities and Exchange Commission filings, including but not limited to
the Annual Report on Form 10-K for the fiscal year ended April 3, 2011.
All forward-looking statements are made as of the date of this release
and the Company disclaims any duty to update such statements.
IDT and the IDT logo are trademarks or registered trademarks of
Integrated Device Technology, Inc. All other brands, product names and
marks are or may be trademarks or registered trademarks used to identify
products or services of their respective owners.
