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Integrated Silicon Solution's CEO Discusses F2Q2012 Results - Earnings Call Transcript

Combined SRAM and DRAM revenue in the March quarter was $60.3 million, a decrease of 5.4% sequentially and an increase of 1.9% over the prior year quarter. DRAM revenue decreased 10% sequentially as end market weakness in the consumer and communications market more than offset our sequential growth in automotive and industrial.

SRAM was a highlight this quarter as revenue increased 5% sequentially, primarily due to stronger demand in industrial markets in Europe. Analog revenue in the March quarter was $2.2 million, which represented a 9% decrease from December quarter.

Automotive revenue grew 1% from the December quarter and 45% from the year ago quarter. Automotive revenue was 38% of our total revenue in the March quarter, compared to 26% of our revenue in the same quarter a year ago.

Revenue from the industrial, medical and military markets increased 1% sequentially, and 12% from the prior year quarter. Revenue from the communications market decreased 4% sequentially and 12% on a year-over-year basis, due to continued weakness in infrastructure spending.

Revenue from the consumer market decreased 27% sequentially and 46% from the year ago quarter, due to overall weakness in a consumer electronics market and our continued transition away from lower margin business.

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

During the March quarter, DRAM represented 65% of our total revenue. We had another strong quarter of design wins across all end markets, including several high volumes DDR2 design wins for automotive, communications and industrial applications. We also achieved a number of key design wins for both x 16 and x 32 configurations in the automotive, telecommunications and industrial.

Our industrial design is one -- one industrial example is our design wins for many smart meter applications worldwide that we believe will start ramping in volume in the second half of calendar 2012.

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