-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, R4bI0IkN3FUxnGna4sRCCYKXkYH+XUfpY2K0aFowbZhV9Ux/nfp9HscY8f2zAokE ZBww+tYX/ayrYXx54ImG3Q== 0001144204-11-001207.txt : 20110107 0001144204-11-001207.hdr.sgml : 20110107 20110107121435 ACCESSION NUMBER: 0001144204-11-001207 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110107 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110107 DATE AS OF CHANGE: 20110107 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTEGRATED SILICON SOLUTION INC CENTRAL INDEX KEY: 0000854701 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 770199971 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-23084 FILM NUMBER: 11516431 BUSINESS ADDRESS: STREET 1: 2231 LAWSON LANE CITY: SANTA CLARA STATE: CA ZIP: 95054-3311 BUSINESS PHONE: 4085880800 MAIL ADDRESS: STREET 1: 680 ALMANOR AVE CITY: SUNNYVALE STATE: CA ZIP: 94086 8-K 1 v207563_8k.htm Unassociated Document
 

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):
January 7, 2011

Integrated Silicon Solution, Inc.
______________
(Exact name of registrant as specified in its charter)


  Delaware
 
000-23084
 
 77-0199971
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)

1940 Zanker Road, San Jose, California 95112
(Address of Principal Executive Offices of Registrant)

Registrant's telephone number, including area code: (408) 969-6600


(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.
 
The information under this Item 2.02 is being furnished as contemplated by General Instruction B(2) to Form 8-K.
 
On January 7, 2011, we announced preliminary financial results for the first fiscal quarter ended December 31, 2010.  The complete release is attached to this report as Exhibit 99.1.
 
Item 9.01  Financial Statements and Exhibits.
 
(c)           Exhibits.
 
99.1           Press Release dated January 7, 2011.
 
 
 

 
 
SIGNATURE
 
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.
 
 
 
 
   
INTEGRATED SILICON SOLUTION, INC.
 
       
Date:  January 7, 2011
 
/s/ JOHN M. COBB  
    John M. Cobb  
    Vice President and Chief Financial Officer  
       
 
 
 

 
 
INDEX TO EXHIBITS


99.1                      Press Release dated January 7, 2011
 
 
 

 
EX-99.1 2 v207563_ex99-1.htm

ISSI Provides Preliminary December Quarter Financial Results



Company to Present at the 13th Annual Needham Growth Conference on January 11, 2011

SAN JOSE, Calif., Jan. 7, 2011 /PRNewswire/ -- Integrated Silicon Solution, Inc. (Nasdaq: ISSI) today provided preliminary financial results for its first fiscal quarter ended December 31, 2010.  During the quarter, the Company experienced weaker than expected end market demand, primarily for its DRAM products.  As a result, the preliminary financial results for the December quarter are as follows:

  • Revenue expected to be in the range of $65.5 to $67.0 million compared to previous guidance of $68 to $72 million as provided on October 27, 2010.
  • Net income expected to be in the range of $0.25 to $0.30 per fully diluted share compared to previous guidance of $0.30 to $0.36 per share.

"We previously expected revenue in the December quarter to decline sequentially as some of our end markets are experiencing an inventory correction.  However, end market demand for DRAM, particularly in the consumer electronics markets in Asia, has been slightly weaker than we anticipated," said Scott Howarth, President and CEO.  "We believe that this inventory correction is nearly complete."

Conference Presentation Details

The Company also announced that Scott Howarth, President and CEO, will present at the 13th Annual Needham Growth Stock Conference in New York on Tuesday, January 11, 2011 at 3:30 p.m. EST.  The conference is being held at the New York Palace Hotel.  Portfolio managers and analysts who wish to request a meeting with management should contact their Needham & Company representative or email conferences@needhamco.com. A live webcast and archived replay of the presentation may be accessed on ISSI's website at http://www.issi.com.

About the Company

ISSI is a fabless semiconductor company that designs and markets high performance integrated circuits for the following key markets: (i) digital consumer electronics, (ii) networking, (iii) mobile communications, (iv) automotive electronics, and (v) industrial, medical, and military.  The Company's primary products are high speed and low power SRAM and low and medium density DRAM.  ISSI is headquartered in Silicon Valley with worldwide offices in Taiwan, Japan, Singapore, China, Europe, Hong Kong, India, and Korea. Visit our web site at http://www.issi.com.

Forward Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements concerning our expected revenue and net income for the December quarter and our belief that the inventory correction is nearly completed are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include supply and demand conditions in the market place resulting from unexpected fluctuations in the market, liquidity and economic concerns or other factors, unexpected reductions in average selling prices for our products, our ability to sell our products for key applications and the pricing and gross margins achieved on such sales, our ability to control or reduce operating expenses, changes in manufacturing yields, order cancellations, order rescheduling, product warranty claims, competition, our ability to obtain a sufficient supply of wafers and assembly an d test capacity at acceptable prices, the level and value of inventory held by us and our OEM customers, or other risks listed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's Form 10-K for the period ended September 30, 2010.  In addition, the preliminary December quarter results in this press release are unaudited and subject to any adjustments that may be made in connection with the year-end audit.  The Company assumes no obligation to update or revise the forward-looking statements in this release because of new information, future events, or otherwise.



CONTACT:  John M. Cobb, Chief Financial Officer of Integrated Silicon Solution, Inc., +1-408-969-6600, ir@issi.com; or Leanne K. Sievers of Shelton Group, +1-949-224-3874, lsievers@sheltongroup.com, for Integrated Silicon Solution, Inc.

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