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Technology Stocks : IDTI - an IC Play on Growth Markets -- Ignore unavailable to you. Want to Upgrade?

To: Hippieslayer who wrote (5699)	1/14/1998 4:29:00 PM
From: William B. Kohn	Read Replies (2) \| Respond to of 11555

Thanks FUGAZI, we need your comments. Keep up the pessimestic work :-) willyb

To: Hippieslayer who wrote (5699)	1/14/1998 4:50:00 PM
From: James Petersen	Read Replies (1) \| Respond to of 11555

Keep at it your teen years will be the most difficult.

To: Hippieslayer who wrote (5699)	1/14/1998 5:01:00 PM
From: kane	Read Replies (2) \| Respond to of 11555

SANTA CLARA, Calif., January 14, 1998 - Integrated Device Technology, Inc. (IDT) (NASDAQ: IDTI) today announced results for the third quarter of fiscal 1998, ended December 28, 1997. Revenue for the quarter was $144,235,000, a 10.1 percent increase compared to the $130,992,000 recorded for the same period one year ago. Revenue was essentially flat compared to the $143,807,000 posted in the immediately prior quarter. Diluted quarterly earnings per share were a profit of $0.03. This compares to a loss of $0.55 (which includes the effects of restructuring) for the year-ago quarter, and a profit of $0.03 for the immediately prior quarter. Diluted and basic share earnings were the same for all periods discussed. Results for the nine months ended December 28, 1997 were a profit of $6,873,000, or diluted earnings of $0.08 per share. This result compares to a loss of $44,383,000 or $0.57 per share (which includes the effects of restructuring) on a diluted basis for the first nine months of the prior fiscal year. "IDT's third fiscal quarter was successful on many fronts," said Len Perham, IDT's president and chief executive officer. "Following the sluggish summer quarter, we saw a solid improvement in bookings. Against a backdrop of caution throughout the industry, and stock and currency crises abroad, we were able to maintain revenue and profitability." New orders exceeded the levels recorded in both the first and second fiscal quarters. The Company's average selling price (ASP) across all products declined marginally from the immediately prior quarter, while unit sales were up slightly. "It's difficult to assess the longer-term implications of the Asian currency crisis on IDT's business," said Brian Boisseree, IDT's treasurer. "We know that the rate at which our business grows will be affected in select regions, such as Korea, but so far demand is holding up reasonably well. We actually had record revenue in Asia Pacific during the third quarter. On the cost side, we're realizing significant savings due to currency devaluation in Malaysia and the Philippines, where more than 2,400 IDT employees perform assembly and test operations." Strong New Product Activity Continued in Q3 "IDT continued to roll out new and enhanced products in this quarter," said Dave C“t‚, IDT's vice president of marketing. "We are pleased with the progress made in ramping production for the IDT WinChip (tm) C6 (tm) processor." In the third quarter, revenue from WinChip microprocessors exceeded $1 million for the first time. In addition to announcing general availability for the 180 MHz and 200 MHz versions of the WinChip C6, IDT began shipping a 225 MHz WinChip processor to selected customers. On the business front, IDT established reseller and distributor relationships in the United States and Europe to ensure broad availability of WinChip products to customers. IDT also continued its commitment to the important networking marketplace with the introduction of an enhanced, 200 MHz RV4700(tm) MIPS(tm) RISC processor. This higher speed version of the widely-used RV4700 enables customers to both upgrade easily for higher system performance and create new designs that are significantly more powerful.