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IDT Posts 2nd Quarter Fiscal-Year 2015 Financial Results [Professional Services Close - Up](Professional Services Close - Up Via Acquire Media NewsEdge) Integrated Device Technology, Inc. (IDT) on October 27 reported results for the fiscal second quarter ended September 28. "The second fiscal quarter was a continuation of the strong momentum we saw last quarter, highlighted by the achievement of important business milestones across all focus areas and excellent financial results," said Greg Waters, president and chief executive officer. "Second quarter revenue grew by 8.5 percent sequentially, driven by increasing demand for our products across each of our Communications, Computing, and Consumer end markets. Additionally, we achieved a significant number of design wins that set the stage for additional growth ahead. Along with excellent business and technology traction, our focus on operational excellence led to a non-GAAP operating margin of 23.7 percent and free cash flow equal to 30 percent of revenue for the quarter." "As we look ahead to the remainder of this fiscal year and beyond, we are optimistic about our prospects for success and remain focused on executing our growth strategies," concluded Waters. Recent Business Highlights - Communications -IDT introduced a family of IEEE 1588 time and frequency generator chips that reduce costs while meeting the synchronization needs of LTE-Advanced, wireless backhaul and heterogeneous networks. -IDT expanded its SoC-friendly PCI Express timing family with the addition of 1.5 V clock generators and clock multiplexers. Along with IDT's 1.5 V buffers, the devices provide enterprise-level performance for space- and power-constrained designs. -IDT added a family of synchronous Ethernet-tested devices to its portfolio of third-generation Universal Frequency Translators (UFT), enabling engineers to simplify complex clock trees through greater flexibility, features, performance and reusability. -IDT continued the expansion of its rapidly growing radio frequency (RF) portfolio, including a high-performance variable gain amplifier; a dual mixer with low power consumption; and the company's first RF switch, delivering industry-topping metrics for isolation and linearity. Recent Business Highlights - Computing -Orange Silicon Valley, a division of France's Telecom-Orange, a telecommunications operator, used IDT's RapidIO interconnect switches and bridges as the processing platform to successfully test the viability of high-performance real-time analytics on social media traffic during the FIFA World Cup finals. -At the Intel Developer Forum IDT announced that it had completed OEM and memory supplier qualification of its DDR4 chipset - including RDIMM and LRDIMM - on enterprise servers designed with the Intel Xeon processor E5-2600 v3 family. Recent Business Highlights - Consumer -IDT announced at the Intel Developer Forum that it is working closely with Intel on the development of "magnetic resonance" wireless charging technology, which enables the charging of multiple devices simultaneously and without the need for direct contact with a charger. -One of IDT's wireless power transmitters was selected for the Kube Systems wireless charging stations available in select Marriott Hotels. More information and complete details: www.IDT.com ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |