DALLAS, Feb. 2, 2011 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Integrated Device Technology Inc. (Nasdaq:IDTI). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
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Integrated Device Technology (IDTI) designs, develops, manufactures and markets a range of semiconductor solutions for the advanced communications, computing and consumer industries. The Company's communications products target markets, including the enterprise, data center and wireless markets. Its computing products are designed for desktop, notebook, sub-notebook, storage and server applications, while its consumer products are optimized primarily for gaming consoles, set-top boxes, digital television and smart phones. IDTI markets its products on a worldwide basis primarily to original equipment manufacturers (OEMs) through a variety of channels, including a direct sales force, distributors, electronic manufacturing suppliers (EMSs) and independent sales representatives.
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In the report, the analyst notes:
"The chipmaker reported fiscal third quarter adjusted earnings of 15 cents per share, just a penny ahead of the consensus estimate. Revenue jumped 8% year-over-year to $153.2 million, which was in line with expectations.
"'Our third-quarter results were in line with our prior projections as we continue to execute our long-term strategy,' commented IDTI president and CEO Dr. Ted Tewksbury. 'We made significant progress reducing channel inventories during the quarter, while growing sales in the enterprise computing end market.'"
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