Integrated Device Technology Inc
Integrated Device Technology — Q4 FY2012 Earnings Presentation
17 slides from Integrated Device Technology's earnings presentation, Apr 30, 2012
Slide 1: PLX Technology and Fox Acquisitions Q4FY12 Financial Results
@IDT PLX Technology and Fox Acquisitions Q4FY12 Financial Results April 30, 2012 ©2012 Integrated Device Technology, Inc.
Slide 2: Forward Looking Statements
@IDT Forward Looking Statements Investors are cautioned that forward-looking statements in this presentation, including but not limited to statements regarding demand for Company products, anticipated trends in Company sales, expenses and profits and IDT’s expectations for the proposed acquisition o
Slide 3: Additional Info
@IDT Additional Info The exchange offer in connection with the IDT’s proposed acquisition of PLX Technology has not yet commenced. This presentation is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be
Slide 4: Additional Info
@IDT Additional Info Neither PLX nor IDT is asking for stockholders to vote or soliciting proxies in connection with the exchange offer transaction at this tine. Upon consummation of the offer, PLX and IDT may seek votes or proxies in connection with the proposed back-end merger from holders of PLX
Slide 5: Proposed PLX Technology Acquisition
@IDT Proposed PLX Technology Acquisition
Slide 6: Proposed Acquisition Summary
@IDT Proposed Acquisition Summary Acquisition Value: Consideration for Outstanding Shares: Transaction Structure: Estimated Synergies: Accretion: Closing Conditions: icipated Closing $7.00 per PLX share or approximately $330 million aggregate equity value based on the closing stock prices on April 2
Slide 7: Compelling Strategic Acquisition
@IDT Compelling Strategic Acquisition e Expands IDT’s core serial switching and interface business through PLX’s strong serial interface portfolio e Highly complementary product and technology portfolios enable IDT to deliver comprehensive connectivity solutions for customers e Accelerates IDT’s ent
Slide 8: Strong Financial Rationale
@IDT Strong Financial Rationale e Projected to add $100M+ of annual revenue e Product gross margins comparable to IDT’s corporate average e Expected to be meaningfully accretive to non-GAAP earnings after integration « Acquisition expected to be accretive to non-GAAP earnings by the third fiscal qua
Slide 9: Material Synergies
@IDT Material Synergies Projected expense synergies « Manufacturing efficiencies « Operational footprint consolidation « Significant R&D savings (including savings from exiting hon-strategic 10 Gigabit Ethernet business) « Public company expenses and duplicative corporate functions ee (OO « Fiscal 2
Slide 10: Accelerates Path to Target Financial Model
@IDT Accelerates Path to Target Financial Model FY12 Target Non-GAAP FY12IDT | ProForma | Model Commentary IDT with | @20% Op PLX*# Margin Revenue $527M $640M $725M The transaction is projected to add $100M+ of annual revenue As 96 of sales Gross margin 57% 57% 59% ProductGMs are comparable to IDT's
Slide 11: Fox Electronics Acquisition
@IDT Fox Electronics Acquisition ©2012 Integrated Device Technology, Inc.
Slide 12: Fox Electronics Acquisition
@IDT Fox Electronics Acqui Strategic Rationale » Fox Electronics is a leading global supplier of frequency control products (FCPs), with an expansive portfolio of quick-turn oscillator products, quartz crystals, voltage-controlled crystal oscillators and other products + Accelerates adoption of IDT’
Slide 13: Q4 FY12 Financial Results
@IDT Q4 FY12 Financial Results ©2012 Integrated Device Technology, Inc.
Slide 14: Q4 FY12 Financial Results
@IDT Q4 FY12 Financial Results Year over year Q4FY12 Q4FY11 Revenue $119.1 million $144.7 million Non-GAAP Net Income* $7.1 million $28.4 million Non-GAAP EPS* $0.05 $0.19 GAAP Net Income* $17.4 million $39.7 million GAAP EPS* $0.12 $0.27 Quarter over quarter Q4FY12 Q3FY12"* Revenue $119.1 million $
Slide 15: Revenue
@IDT Revenue* ste. 81447 $148.3 —“g438.9 — $120.0 $119.1 2 $120 S = $80 $40 $0 | gf Q4FY11 QIFY12 Q2FY12 Q3FY12 Q4FY12 *Continuing operations wewrwlD Ticom, PAGE 15,
Slide 16: Revenue by End Market
@IDT Revenue by End Market* Communications 41% Communications 46% Fiscal Q3 2012 Fiscal Q4 2012 *Continuing operations basis wawDT.com PAGE 16
Slide 17: Cash and Investments
@IDT Cash and Investments $400 $320.1 $314.6 $325.5 $299.2 $300 $200 $ Millions $100 $0 Lal Q4FY11 Q1FY12 Q2FY12 Q3FY12 Q4FY12 wwwiDT.com PAGE 17
Integrated Device Technology — Q4 FY2012 Earnings Presentation on 6ix