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TheStreet Open House

InvenSense CEO Discusses F1Q13 Results - Earnings Call Transcript

Stock quotes in this article: INVN

This is further validation of market acceptance of our technology driven by top key manufacturers. We are also very delighted by the standardization of motion interface functionality by leading Android tablet makers. As an example our six-axis motion tracking solution is in the recently released Google Nexus 7 tablet in addition to a number of new Android tablet is scheduled to hit the market soon. We believe that the tablet market will represent the growth opportunity for us for remainder of our fiscal year.

We continue to be encouraged with the fast paced of adoption of motion interface functionality by many other leading consumer electronic device makers. We are also starting to see motion interface functionality being adopted in many games and other mobile application.

For instance, the latest version of Android operating system called Jelly Bean has incorporated motion into its 3D street view. Today customers consider (inaudible) our consumption and performance as key selection criteria in addition to price and quality. And we see evidence of this trend in the fast transition of mark to market from stand-alone motion sensors to adoption of our intelligent integrated six-axis motion tracking devices.

You are expecting an increase in volume shipment of our six-axis devices of over 100% in Q2 compared to Q1. We also see continuing the trend in our gaming and Smart TV market with customers expecting to meet our initial expectations for our current fiscal year. Because of superior performance of our product we continue to retain 100% market share at key accounts.

We believe technology leads in providing complete motion tracking solutions and our reputation for high performance and high quality product are resulting in an increased number of new opportunities that would lead to positive growth and increased revenue for investments in second half of the fiscal year 2013 and beyond.

Read the rest of this transcript for free on seekingalpha.com

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