Looked up the news:
SANTA CLARA, Calif.--(BUSINESS WIRE)--March 1,1996--Integrated Device Technology, Inc. (IDT), today announced that it expects revenues and net income for the fourth fiscal quarter ended March 31, 1996, to be lower than prior estimates.
Previous projections for revenue ranged from $165-$177 million with earnings per share from $.27 to $.34. The Company currently estimates revenue in the $ 160 million range with earnings of $.21 to $.26 per share. Integrated said it has been projecting increased research and development expenses due in part to start-up costs associated with the company's new wafer fabrication plant in Hillsboro, Ore., which is currently producing qualification samples for major customers.
Integrated Device, which designs, manufactures, and markets CMOS VLSI integrated circuits, reported net income of $24.6 million, or 61 cents a share, on revenues of $125.8 million, for the fourth quarter ended April 2, 1995.
I hope the market has been smart enough to discount this earnings news and focus on revenues down only 17% from previous Qtr, and Up 21% vs a year ago. |
