This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Integrated Silicon Solution's CEO Discusses F2Q 2011 Results - Earnings Call Transcript

Scott Howarth

Thank you John. We are pleased with our overall performance in the March quarter. We believe the quarter demonstrated the strength of our high-quality specialty business during an otherwise seasonally slower March quarter, and it also marked the end of the market inventory correction that began last summer.

We experienced strong demand in the industrial market, which nearly offset the normal seasonal slowdown and general softness in the communications market. In addition, we completed our acquisition of Si En Integrations, adding high margin, analog and mixed signal products to our portfolio.

I will discuss Si En in more detail later after a brief review of our March quarter performance. Revenue in the March quarter was $63.3 million, which was at the high end of our guidance range. Our SRAM and DRAM revenue was $59.6 million and declined less than 1% from the December quarter, but increased 15.6% over the year ago quarter.

Si En contributed $3.7 million in analog revenue in the two months after our integration, or after acquisition, which is also at the high end of our guidance range.

As we discussed on our last earnings call, we had expected our SRAM and DRAM revenue to be flat to down sequentially due to normal March seasonal quarterly activity. Looking at the breakout, SRAM revenue decline 8% sequentially due to seasonality and general softness in the communications market. However, our DRAM revenue actually grew 3% sequentially driven partially by strong demand from our industrial customers.

The end market inventory correction that began late last summer was completed early in the March quarter as customers returned to normal ordering patterns.

GAAP gross margin in the March quarter was 33.1% and non-GAAP gross margin was 33.7%. The gross margin was at the low end of our guidance range due to a higher mix of DRAM and less SRAM and also due to foreign currency fluctuations. John will explain the gross margin in more detail.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.24 -0.41%
FB $117.81 -0.21%
GOOG $701.43 0.82%
TSLA $211.53 -4.96%
YHOO $36.94 2.61%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs