-----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, WIK1L+cr0lhWA44vf7LTHROgK6qOglDcKmRvKd2nkaXiqIsEltefQnbv2nkb49sr CKnwToNVeAiXcI3pucg/fg== 0001275287-07-000405.txt : 20070130 0001275287-07-000405.hdr.sgml : 20070130 20070130162234 ACCESSION NUMBER: 0001275287-07-000405 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070130 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070130 DATE AS OF CHANGE: 20070130 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: 07564873 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 is8724.txt FORM 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): January 30, 2007 INTEGRATED SILICON SOLUTION, INC. ------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 000-23084 77-0199971 ---------------------------- ------------ ------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 2231 Lawson Lane, Santa Clara, California 95054 ------------------------------------------------------ (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 30, 2007, we announced selected financial results of our operations for the first fiscal quarter ended December 31, 2006. The complete release is attached to this report as Exhibit 99.1. ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits. 99.1 Press Release dated January 30, 2007. 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 30, 2007 /s/ SCOTT D. HOWARTH ----------------------------------- Scott D. Howarth Vice-President and Chief Financial Officer INDEX TO EXHIBITS ----------------- 99.1 Press Release dated January 30, 2007 EX-99.1 2 is8724ex991.txt EXHIBIT 99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE - --------------------- ISSI ANNOUNCES SELECTED FINANCIAL RESULTS FOR FISCAL FIRST QUARTER Santa Clara, Calif.--January 30, 2007--Integrated Silicon Solution, Inc. (Nasdaq: ISSI) today reported selected financial results for the first fiscal quarter ended December 31, 2006. Revenue in the first fiscal quarter ending December 31, 2006 was $61.5 million, compared with $59.0 million reported in the September 2006 quarter and $51.1 million in the December 2005 quarter. This represents a sequential increase of 4.1% from the September 2006 quarter, and a 20.3% increase from the same period in the previous year. The Company's cash, cash equivalents and short-term investments totaled $109.4 million at December 31, 2006 which was a decline of $4.0 million from September 30, 2006. The Company's inventory at December 31, 2006 totaled $55.7 million which was an increase of $3.3 million from September 30, 2006. "We saw good growth this quarter as revenue grew 4.1% from the previous quarter and capped an annual growth of 20.3% from the December 2005 quarter" said Jimmy Lee, ISSI's Chairman and CEO. "The quarter to quarter growth was driven by a combination of stable pricing in the non-commodity market segments and seasonally strong SRAM and DRAM demand." Due to the continuing internal investigation of its past stock option granting practices by the Special Committee of the Board of Directors, the Company is not providing detailed GAAP or Non-GAAP financial information for the fiscal quarter ended December 31, 2006. The Company intends to issue full results for the fiscal first quarter ended December 31, 2006, and to file its Form 10-Q for that period, together with any restated historical financial statements, as soon as practicable after completion of the Special Committee review. Conference Call - --------------- A conference call will be held today at 1:30 p.m. Pacific time to discuss this release. To access ISSI's conference call via telephone, dial (719) 457-2641 by 1:20 p.m. Pacific time. The call will be webcast from ISSI's website at www.issi.com. -more- ISSI Release January 30, 2007 Page 2 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 and (iv) automotive electronics. The Company's primary products are high speed and low power SRAM and low and medium density DRAM. The Company also designs and markets EEPROM, SmartCards and is developing selected non-memory products focused on its key markets. ISSI is headquartered in Silicon Valley with worldwide offices in China, Europe, Hong Kong, India, Korea and Taiwan. Visit our web site at www.issi.com. Risk Factors to our Business - ---------------------------- The statements in this press release regarding stable pricing and seasonally strong demand are historical and should not be read as predictive of future results. Among the risks affecting our business are supply and demand conditions in the market place, unexpected reductions in average selling prices for our products, our ability to sell our products for the die business and automotive 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, the level and value of inventory held by OEM customers, or other factors. In addition, the financial information in this press release is unaudited and subject to any adjustments that may be made in connection with the year end audit and quarterly reviews. Further information about risks that could affect the Company's business are detailed in ISSI's periodic filings with the Securities and Exchange Commission, including its report on Form 10-Q for the quarter ended March 31, 2006. -###- CONTACT: Scott Howarth Vice-President & CFO Investor Relations (408) 969-4686 ir@issi.com -----END PRIVACY-ENHANCED MESSAGE-----