Friday, August 13, 2010

Inphi Updates Financials, Acquires Taiwanese Firm

Inphi Corp., the Sunnyvale-based semiconductor maker which has major operations in Westlake Village, has released its latest financials in an updated S-1 from the company, saying that it had had net income of $19.6M on revenues of $25.9M for the six months ended June 30, 2010. The firm benefited from an adjustment to the firm's accounting of deferred income tax. The firm had net income attributable to common stockholders of $2.2M. That compares to net income of $762K on revenues of $23.3M for the same six months in 2009. Inphi has filed for an IPO on the New York Stock Exchange under the symbol "IPHI". Among other major moves, Inphi said it acquired all of the outstanding shares of Taiwanese firm Winyatek Technology on June 30th, paying $7.9M, in a combination of $3.3M in cash plus 732,000 of its Series E preferred stock. Winyatek develops NAND Flash controller, systems-on-a-chip, secure digital, multi-media card (MMC) controllers, and card readers. The buy of Winyatek had been disclosed quietly by the firm through filings, but had not been announced otherwise by the firm.