IDT Reports Fiscal 2017 Q4 and Full Year Financial Results

Integrated Device Technology, Inc. (IDT) (NASDAQ: IDTI) has reported revenue from continuing operations for the fiscal fourth quarter of 2017, ending 2 April, was USD 175.7m, compared with USD 176.4m reported last quarter, and USD 189.4m reported in the same period one year ago, the company said.

GAAP net income from continuing operations for the fiscal fourth quarter of 2017 was USD 30.2m, or USD 0.22 per diluted share, versus GAAP net income from continuing operations of USD 33.4m or USD 0.24 per diluted share last quarter, and GAAP net income from continuing operations of USD 81.6m or USD 0.59 per diluted share in the same period one year ago.

Fiscal fourth quarter GAAP results include USD 10.3m in stock-based compensation, USD 7.2m in acquisition and restructuring charges, USD 3.4m in non-cash interest expense and USD 2.9m benefit in related tax effects.

Non-GAAP net income for the fiscal fourth quarter of 2017 was USD 48.1m or USD 0.35 per diluted share, compared with non-GAAP net income of USD 49.0m or USD 0.35 per diluted share last quarter, and non-GAAP net income of USD 51.5m or USD 0.36 per diluted share reported in the same period one year ago.

Integrated Device Technology, Inc. develops system-level solutions that optimize its customers´ applications. IDT´s market-leading products in RF, timing, wireless power transfer, serial switching, interfaces and sensing solutions are among the company´s broad array of complete mixed-signal solutions for the communications, computing, consumer, automotive and industrial segments.

Headquartered in San Jose, Calif., IDT has design, manufacturing, sales facilities and distribution partners throughout the world.