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FYI
March 1, 1996
IDT Revises Fourth Quarter Earnings Estimates
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.
"The slowdown in the personal computer market has impacted us more than originally anticipated,"
said Len Perham, IDT's president and chief executive officer. "We expected business conditions to
be more normal by April 1, but it now looks like the effects of the slowdown will impact more than
one quarter. Where initially the sluggish personal computer market only affected SRAM orders,
new orders in Logic have also been impacted. We continue to see significant price reductions in
most segments of the SRAM market."
IDT 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, Oregon which is
currently producing qualification samples for major customers. About IDT
Integrated Device Technology, Inc. (IDT) designs, manufactures, and markets CMOS VLSI
integrated circuits (ICs) for a range of growth markets, including desktop computer,
workstation/server, data communications and office automation.
IDT offers products in four key areas: high-speed SRAMs, RISC microprocessors, specialty
memories, and high-performance logic. The company's product areas are synergistic and provide
solutions that optimize the cost and performance of microprocessor-based systems.
Headquartered in Santa Clara, Calif., IDT employs approximately 3,875 people worldwide.
This press release contains forward looking statements. Actual results may differ materially from
those stated depending upon a number of factors, including but not limited to product supply and
demand, order cancellations, pricing, competition and manufacturing yields, particularly as they
affect SRAM products and the Company's ability to obtain and f |
