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
September
26, 2011
Date
of report (Date of earliest event reported)
Integrated
Device Technology, Inc.
(Exact
name of registrant as specified in its charter)
|
Delaware |
0-12695 |
94-2669985 |
|
(State of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
|
6024 Silver Creek Valley Road, San Jose, California 95138 |
|
(Address of principal executive offices) (Zip Code) |
(408) 284-8200
(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 7.01 Regulation FD Disclosure.
The information in this Current Report, including Exhibit 99.1 attached hereto, is furnished pursuant to Item 7.01 of this Current Report. Consequently, it is not deemed “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933, as amended, if such subsequent filing specifically references this Current Report.
On September 26, 2011, Integrated Device Technology, Inc. issued a press release updating its projections for the fiscal second quarter ending October 2, 2011, which were previously provided on August 1, 2011. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
|
Exhibit No. |
Description |
| 99.1 | Press release dated September 26, 2011. |
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.
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Date: |
September 26, 2011 |
INTEGRATED DEVICE TECHNOLOGY, INC. |
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By: |
/s/ Richard D. Crowley, Jr. |
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Richard D. Crowley, Jr. |
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Vice President, Chief Financial Officer (duly authorized officer) |
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EXHIBIT INDEX
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Exhibit No. |
Description |
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|
99.1 |
Press Release dated September 26, 2011. |
Exhibit 99.1
IDT Updates Projections for Fiscal Second Quarter 2012
SAN JOSE, Calif.--(BUSINESS WIRE)--September 26, 2011--Integrated Device Technology, Inc. (IDT®) (NASDAQ: IDTI), the Analog and Digital Company™ delivering essential mixed-signal semiconductor solutions, today updated its projections for the fiscal second quarter of 2012 which were previously provided in its quarterly earnings call on August 1, 2011.
The Company currently anticipates revenue for the fiscal second quarter of 2012 to be between $138 million and $141 million, down 7 to 9 percent sequentially. Prior projections for the fiscal second quarter of 2012 were for revenue to be in the range of $147 million to $153 million.
“The broad-based weakness in customer orders we experienced in the latter half of the June quarter has continued through September,” said Dr. Ted Tewksbury, president and CEO of IDT. “In the face of weaker macro-economic growth and shorter component lead times, many of our customers have focused on controlling inventory and remain cautious about placing new orders. This has resulted in lower than anticipated turns-fill for the September quarter.”
IDT will discuss its financial results for the fiscal second quarter of 2012 and its projections for the third quarter of fiscal 2012 on its quarterly earnings call currently scheduled for October 31, 2011. Details for the call will be provided at a later date.
About IDT
Integrated Device Technology, Inc., the Analog and Digital Company™, develops system-level solutions that optimize its customers’ applications. IDT uses its market leadership in timing, serial switching and interfaces, and adds analog and system expertise to provide complete application-optimized, mixed-signal solutions for the communications, computing and consumer segments. Headquartered in San Jose, Calif., IDT has design, manufacturing and sales facilities throughout the world. IDT stock is traded on the NASDAQ Global Select Stock Market® under the symbol “IDTI.” Additional information about IDT is accessible at www.IDT.com. Follow IDT on Facebook, LinkedIn, Twitter, and YouTube.
Forward Looking Statements
Investors are cautioned that forward-looking statements in this release, including but not limited to statements regarding demand for Company products, anticipated trends in Company sales, expenses and profits, involve a number of risks and uncertainties that could cause actual results to differ materially from current expectations. Risks include, but are not limited to, global business and economic conditions, fluctuations in product demand, manufacturing capacity and costs, inventory management, competition, pricing, patent and other intellectual property rights of third parties, timely development and introduction of new products and manufacturing processes, dependence on one or more customers for a significant portion of sales, successful integration of acquired businesses and technology, availability of capital, cash flow and other risk factors detailed in the Company’s Securities and Exchange Commission filings. The Company urges investors to review in detail the risks and uncertainties in the Company’s Securities and Exchange Commission filings, including but not limited to the Annual Report on Form 10-K for the fiscal year ended April 3, 2011. All forward-looking statements are made as of the date of this release and the Company disclaims any duty to update such statements.
IDT and the IDT logo are trademarks or registered trademarks of Integrated Device Technology, Inc. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
CONTACT:
Financial Contact:
IDT Investor Relations
Mike
Knapp, 408-284-6515
mike.knapp@idt.com
or
Press
Contact:
IDT Worldwide Marketing
Graham Robertson, 408-284-2644
graham.robertson@idt.com