8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)

October 29, 2007

ADVANCED ANALOGIC TECHNOLOGIES INCORPORATED

(Exact name of registrant as specified in its charter)

Delaware	000-51349	77-0462930
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3230 Scott Boulevard, Santa Clara, California 95054

(Address of principal executive offices, including zip code)

(408) 737-4600

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

On October 29, 2007, Advanced Analogic Technologies Incorporated issued a press release regarding its financial results for the third quarter ended September 30, 2007 and certain other information. The full text of the press release concerning the foregoing is furnished herewith as Exhibit 99.1.

The information in this Form 8-K and the Exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number	Description
99.1	Text of press release issued by Advanced Analogic Technologies Incorporated, dated October 29, 2007, reporting the results of operations for the third quarter ended September 30, 2007 and certain other information (furnished herewith).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ADVANCED ANALOGIC TECHNOLOGIES INCORPORATED

/s/ Brian R. McDonald

Brian R. McDonald

Chief Financial Officer, Vice President of Worldwide

Finance and Secretary

Date: October 29, 2007

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EXHIBIT INDEX

Exhibit Number	Description
99.1	Text of press release issued by Advanced Analogic Technologies Incorporated, dated October 29, 2007, reporting the results of operations for the third quarter ended September 30, 2007 and certain other information (furnished herewith).

EX-99.1

Exhibit 99.1

PRESS RELEASE

FOR RELEASE 10/29/07 @ 1:05PM

AnalogicTech Reports Financial Results for the Third Quarter 2007

• 3Q07 EPS of $0.05 vs. EPS Guidance of $0.0 - $0.02

• 3Q07 Revenue of $30.6 million vs. Guidance of $26 - $28 million

• Quarterly Record for Revenue and 19% Sequential Revenue Growth

Santa Clara, CA – October 29, 2007 – Advanced Analogic Technologies, Inc. (“AnalogicTech” or the “Company”) (Nasdaq: AATI), a developer of power management semiconductors for mobile consumer electronic devices, today reported financial results for the third quarter ended September 30, 2007.

All financial results are reported in accordance with accounting principles generally accepted in the United States of America.

Revenue for the third quarter of 2007 was $30.6 million, an increase of 52% over revenue of $20.1 million for the third quarter of 2006 and a sequential increase of 19% over revenue of $25.8 million for the second quarter of 2007.

Net income for the third quarter of 2007 was $2.6 million, or $0.05 per diluted share. This compares to a net loss of $1.5 million, or $0.03 per diluted share, for the third quarter of 2006, and a net loss of $0.9 million, or $0.02 per diluted share, for the second quarter of 2007. The Company recorded stock-based compensation expense of $1.6 million, $1.5 million and $1.7 million in the third quarter of 2007, the third quarter of 2006 and the second quarter of 2007, respectively.

AnalogicTech reported gross margins of 53.6% for the third quarter of 2007, compared to 54.7% for the third quarter of 2006 and 55.1% for the second quarter of 2007. Gross margin decreased sequentially due to continued higher demand for products with lower margins partially offset by a favorable impact related to sales of previously written down inventory. The Company ended the quarter with $110.7 million in cash, cash equivalents, and short-term investments.

“Both revenue and net income exceeded our targets for the quarter and we were pleased that revenue reached a new record in the Company’s history,” stated Richard K. Williams, President, CEO and CTO of AnalogicTech. “We experienced strong seasonal demand across our end

© Advanced Analogic Technologies, Inc. Page 1

markets, with strength in Korea and China once again. During the third quarter, our new product introductions and design wins continued at a robust pace. We are excited about the momentum we are currently experiencing and the interest level in our new higher voltage products. Our new generation of products using our proprietary process technology ModularBCD^™ expands the applications and market opportunities for our products. We believe we are well positioned for future growth and a strong finish to 2007.”

Business Outlook

The following statements are based upon management’s current expectations. These statements are forward-looking, and actual results may differ materially. AnalogicTech undertakes no obligation to update these statements.

For the fourth quarter ending December 31, 2007, AnalogicTech estimates revenue in the range of $30.6 million to $32.5 million, and net income of $0.04 to $0.06 per diluted share. The fourth quarter 2007 estimates include pre-tax quarterly share-based compensation expense of $1.8 to $2.0 million.

Conference Call Details The AnalogicTech third quarter 2007 teleconference and webcast is scheduled to begin at 4:30 p.m. Eastern Time on Monday, October 29, 2007. To participate in the live call, analysts and investors should dial (800) 218-8862 or (303) 262-2140 at least ten minutes prior to the call. AnalogicTech will also offer a live and archived webcast of the conference call, accessible from the Company’s investor relations website at www.aati.com or via the corporate website, www.analogictech.com. A telephonic replay of the conference call will also be available until Friday, November 2, 2007, by dialing (800) 405-2236 and entering the passcode: 11099306#. Callers outside the U.S. and Canada may access the replay by dialing (303) 590-3000 and entering the passcode 11099306#.

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About AnalogicTech

Advanced Analogic Technologies, Inc. (AnalogicTech) is a supplier of Total Power Management^(TM) semiconductor solutions for mobile consumer electronic devices, such as wireless handsets, notebook and tablet computers, smartphones, digital cameras, wireless LAN, and personal media players. The company focuses its design and marketing efforts on the application-specific power management needs of consumer, communications, and computing applications in these rapidly evolving devices. AnalogicTech also develops and licenses device, process, package, and application-related technology. AnalogicTech is headquartered in Santa Clara, California and Macau, S.A.R., with offices in China (Beijing, Shanghai and Shenzhen), Hong Kong, Taiwan, Japan, South Korea, Sweden, France and United Kingdom, as well as a worldwide network of sales representatives and distributors. The company is listed on the NASDAQ exchange under the ticker symbol AATI. For more information, please visit the AnalogicTech website: http://www.analogictech.com. (AnalogicTech - F)

© Advanced Analogic Technologies, Inc. Page 2

For More Information

Investor Contacts:
Brian McDonald	Lisa Laukkanen
Chief Financial Officer	The Blueshirt Group
AnalogicTech	415-217-4967
408-737-4788

“Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995

Statements contained in this release that are not historical facts are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including financial projections and forecasts, involve risks and uncertainties that could cause AnalogicTech’s actual results to differ materially from our current expectations. Factors that could cause AnalogicTech’s results to differ materially from those set forth in these forward-looking statements include customers’ cancellation or modification of their orders; our failure to accurately forecast demand for our products; the loss of, or a significant reduction in orders from, any of our significant customers; fluctuations in our operating results; our inability to develop and sell new products; defects in or failures of our products; the expense and uncertainty involved in our customer design-win efforts; the financial viability of the distributors of our products; consumer demand for cellular phones and other mobile consumer electronic devices; worldwide economic and political conditions, particularly in Asia; fluctuations in our costs to manufacture our products; our reliance on third parties to manufacture, test, assemble and ship our products; our ability to retain and attract key personnel; our ability to compete with our competitors; and our ability to protect our intellectual property rights and not infringe the intellectual property rights of others. Other factors that may cause our actual results to differ from those set forth in the forward-looking statements contained in this press release and that may affect our prospects in general are described in our filings with the Securities and Exchange Commission, including our Registration Statement on Form S-1 related to our initial public offering and our Annual Report on Form 10-K for the year ended December 31, 2006. AnalogicTech undertakes no obligation to update or revise forward-looking statements to reflect subsequent events or changed assumptions or circumstances.

NOTE: AnalogicTech and the AnalogicTech logo are trademarks of Advanced Analogic Technologies, Inc. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders.

© Advanced Analogic Technologies, Inc. Page 3

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited)

(in thousands)

	Sep. 30 2007		Dec. 31 2006 (*)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	47,819	$	58,121
Short term investments		62,838		49,566
Total cash, cash equivalents and short term investments		110,657		107,687
Accounts receivable, net		17,497		11,037
Inventories		10,745		8,480
Prepaid expenses and other current assets		2,423		2,223
Restricted cash		700		700
Deferred income tax assets - current		816		857
Total current assets		142,838		130,984
Property and equipment, net		4,216		2,812
Goodwill		16,792		16,775
Intangible assets, net		2,417		3,287
Other assets		1,500		1,375
Deferred income tax assets - noncurrent		8,333		5,965
	$	176,096	$	161,198
TOTAL ASSETS
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable	$	11,623	$	6,968
Accrued liabilities		8,623		6,852
Income tax payable		1,360		1,250
Total current liabilities		21,606		15,070
Long-term income tax payable		2,790		—
Long-term debt and capital lease obligations		80		191
Other long-term liabilities		135		—
Total liabilities		24,611		15,261
Total stockholders' equity		151,485		145,937
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	176,096	$	161,198

* Amounts as of December 31, 2006 were derived from the December 31, 2006 audited consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

(in thousands, except per share amounts)

(unaudited)

	Quarters Ended					Nine Months Ended
	Sep. 30 2007		Sep. 30 2006			Sep. 30 2007			Sep. 30 2006
REVENUE	$	30,600	$	20,103		$	77,545		$	60,210
Cost of revenue		14,204		9,100			35,748			24,986
GROSS PROFIT		16,396		11,003			41,797			35,224
OPERATING EXPENSES:
Research and development		7,948		5,371			22,623			17,214
Sales, general and administrative		6,373		5,187			19,172			16,200
Patent litigation		580		3,490			3,657			5,247
Total operating expenses		14,901		14,048			45,452			38,661
INCOME (LOSS) FROM OPERATIONS		1,495		(3,045	)		(3,655	)		(3,437	)
INTEREST AND OTHER INCOME (EXPENSES), NET		1,398		1,594			3,850			4,248
INCOME (LOSS) BEFORE INCOME TAXES		2,893		(1,451	)		195			811
PROVISION FOR INCOME TAXES		316		—			1,260			312
NET INCOME (LOSS)	$	2,577	$	(1,451	)	$	(1,065	)	$	499
NET INCOME (LOSS) PER SHARE:
Basic	$	0.06	$	(0.03	)	$	(0.02	)	$	0.01
Diluted	$	0.05	$	(0.03	)	$	(0.02	)	$	0.01
WEIGHTED AVERAGE SHARES USED IN NET INCOME (LOSS) PER SHARE CALCULATION:
Basic		44,827		43,624			44,584			43,330
Diluted		47,170		43,624			44,584			46,819
Note: FAS123R was adopted at the beginning of fiscal 2006. Stock compensation recorded in each expense classification above is as follows:
Cost of revenues	$	78	$	46		$	209		$	193
Research and development		758		618			2,031			1,799
Sales, general and administrative		781		825			2,834			2,391
	$	1,617	$	1,489		$	5,074		$	4,383