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

We also continue to successfully execute our strategy to gain share on our key markets. Automotive revenue grew 2% from the June quarter and 33% from the year-ago quarter. We also achieved strong sequential growth in the communications market with 8% revenue growth. However, our communications market revenue decreased 40% on the year-over-year basis due to overall end market weakness.

The industrial, medical and military revenue decreased 15% sequentially as Europe demand was weaker during the quarter, but increased 41% from the year-ago quarter. We believe there are large and growing opportunities for ISSI in these markets where customers value our high quality products, [deteriorating] capability in long-life cycle report.

Now, I will briefly review our key markets and products, including DRAM, SRAM and analog.

During the September quarter Specialty DRAM represented 62% of our total revenues and increased 7% on a sequential basis, while commodity DRAM represented less than 1% of our total revenue giving ISSI almost no exposure to this volatile memory market.

For the year, DRAM revenue increased 13% over fiscal 2010. In terms of Specialty DRAM design wins, we had another strong quarter across all of our end markets including several large DDR2 design wins for automotive, communications and industrial applications. We also achieved a number of key design wins for both BI16 and BI32 configurations in the automotive, telecom and consumer markets.

We also have strong design activity for our new DRAM products including our 256 megabit, 512 Megabit, 1 Gigabit and 2 Gigabit DDR2, our Mobile SDRAM and our 64 Megabit and 128 Megabit low power SDRAM KHD product. We expect these new devices to contribute to revenue growth in the coming quarters and further expand our market share. In addition, our SD RAM and DDR1 products are seeing increased share opportunities as some of the larger customers reach end-of-life on their equivalent products.

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