IDT Reports Fiscal 2019 Q2 Financial Results

 

INTEGRATED DEVICE TECHNOLOGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(In thousands, except per share data)












Three Months Ended


Six Months Ended



Sep. 30, 2018


Jul. 1, 2018


Oct. 1, 2017


Sep. 30, 2018


Oct. 1, 2017

Revenues


$      235,484


$  228,516


$   204,398


$      464,000


$   401,111

Cost of revenues


91,900


91,909


87,636


183,809


174,311

Gross profit 


143,584


136,607


116,762


280,191


226,800

Operating expenses:











  Research and development


55,509


52,234


48,742


107,743


97,191

  Selling, general and administrative


46,753


42,995


44,485


89,748


86,427

Total operating expenses


102,262


95,229


93,227


197,491


183,618

Operating income


41,322


41,378


23,535


82,700


43,182












Other-than-temporary impairment loss on investment


-


(2,000)


-


(2,000)


-

Interest and other expense, net


(4,608)


(5,514)


(4,886)


(10,122)


(8,801)

Income before income taxes


36,714


33,864


18,649


70,578


34,381

Benefit from (provision for) income taxes


(1,214)


(3,144)


31


(4,358)


1,013

Net income


$       35,500


$    30,720


$     18,680


$       66,220


$     35,394












Basic net income per share


$           0.27


$        0.24


$        0.14


$           0.51


$         0.27

Diluted net income per share


$           0.26


$        0.23


$        0.14


$           0.49


$         0.26

Weighted average shares:











Basic 


129,155


129,560


133,269


129,357


133,286

Diluted


134,755


132,806


136,059


133,957


136,434


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