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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Integrated Silicon Solution's CEO Discusses F4Q2011 Results - Earnings Call Transcript

We refer you to the document ISSI files from time-to-time with the SEC, specifically our most recent Form 10-K filed in December 2010 and our most recent Form 10-Q filed in August. These documents contain and identify important factors that could cause our actual future results to differ materially from those contained in our financial guidance, projections, comments or other forward-looking statements.

Scott Howarth

Thank you, John. We are pleased with our overall performance of the quarter and year in which we achieved solid profits and cash flow. We achieved strong demand across our target markets as we continued to increase our design and momentum and gain market share with our expanded product offerings. We believe these financial results once again demonstrate the strength of our high-quality specialty memory focus and long-term consistent supply relationships with customers.

Revenue in the September quarter was $71.3 million, which was at the high end of our guidance range. Our GAAP net income was $34.9 million or $1.23 per share. This includes a $28.1 million income tax benefit which John will discuss in more detail shortly.

Our non-GAAP net income was $8.2 million or $0.29 per share. Our non-GAAP results exclude the income tax benefit, stock compensation and the amortization of Si En intangibles. We also achieved $11 million in cash flow from operations.

For fiscal 2011, revenue was a record $270.5 million increasing 7.1% from the prior year. GAAP net income was $56 million and non-GAAP net income was $33.4 million or $1.18 per share. On top of this solid net income numbers, we generated $30.6 million in cash flow from operations during the fiscal year.

SRAM and DRAM revenue in the fourth quarter increased 1.1% sequentially to $60 million which was within our guidance of relatively flat sequentially. DRAM revenue grew 6% sequentially driven mainly by demand from our automotive communications customers. SRAM revenue decreased 9% sequentially as a result of weaker demand in the industrial markets primarily in Europe.

2 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,039.49 +60.36 0.36%
S&P 500 1,992.37 +5.86 0.30%
NASDAQ 4,532.1040 +5.6220 0.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs