Power Integrations Reports First-Quarter Financial Results

Revenues increased eight percent sequentially to $71.8 million; cash flow from operations was $21.6 million -- Acquisition of CT-Concept completed on May 1

Power Integrations (Nasdaq:POWI), the leader in high-voltage integrated circuits for energy-efficient power conversion, today announced financial results for the quarter ended March 31, 2012. Net revenues for the first quarter were $71.8 million, up eight percent from the prior quarter and down six percent compared with the first quarter of 2011. Net income was $7.5 million or $0.25 per diluted share, compared with $0.22 per diluted share in the prior quarter and $0.33 per diluted share in the first quarter of 2011. Gross margin for the first quarter was 48.2 percent; operating margin was 12.2 percent.

Microchip Technology and SMSC Announce the Acquisition of SMSC by Microchip Technology

Acquisition Will Expand Microchip’s Smart Connectivity Solutions for Embedded Markets

Microchip Technology Incorporated (NASDAQ: MCHP), a leading provider of microcontroller, analog and Flash-IP solutions, and Standard Microsystems Corporation (NASDAQ: SMSC) today announced that Microchip has signed a definitive agreement to acquire Standard Microsystems Corporation (“SMSC”) for $37.00 per share in cash, which represents a total equity value of about $939 million, and a total enterprise value of about $766 million, after excluding SMSC’s cash and investments on its balance sheet of approximately $173 million. The acquisition has been approved by the Boards of Directors of each company and is expected to close in the third quarter of calendar 2012, subject to approval by SMSC stockholders, regulatory approvals and other customary closing conditions.

Integrated Device Technology, Inc. to Acquire PLX Technology, Inc. Broadens IDT's Solutions for Data Center Interconnects in Cloud Computing

Integrated Device Technology, Inc. (IDT®) (NASDAQ: IDTI), the Analog and Digital Company™ delivering essential mixed-signal semiconductor solutions, and PLX Technology, Inc. (NASDAQ: PLXT) today announced that they have signed a definitive agreement pursuant to which IDT will acquire PLX. Under the terms of the agreement, unanimously approved by the boards of directors of both companies, IDT will acquire all of the outstanding shares of PLX common stock pursuant to an exchange offer, followed by a second step merger. In the acquisition, PLX stockholders will receive (i) $3.50 in cash and (ii) 0.525 shares of IDT common stock for each PLX common share outstanding. Based on IDT's closing stock price on April 27, 2012, the transaction is valued at approximately $7.00 per PLX share and results in a total transaction value of approximately $330 million.

Cypress Reports First-Quarter 2012 Results

Cypress Semiconductor Corp. (NASDAQ:CY) today announced the results of the first quarter of 2012, which included the following highlights and remarks from its CEO, T.J. Rodgers.

• Earnings exceeded revised guidance
• Book-to-bill ratio of 1.33 was the highest in two years
• Repurchased 6.1 million shares
• Dividend increased to $0.11 per share, currently yielding 3.1% per year

  Published: 19 April 2012

  Written by Editor

  Nasdaq   High Tech   Financial Results   Up on News   Interesting News  

  Read more: Cypress Semiconductor Corp ( CY )