Pericom Semiconductor Corp. reported a record fiscal year, ended June 30, with net income nearly doubling on the success of its new products and strong demand in the switch and interface logic markets.
Net income for fiscal 2000 was $13.2 million, or $1.12 per share, up from $6.7 million, or 66 cents in fiscal 1999. Revenues rose 52%, to $90.9 million from $59.7 million in the prior year.
Pericom, San Jose, a supplier of high-speed and mixed-signal ICs, said it experienced stronger sales as it introduced new product lines throughout the year.
"We continued to experience strength in the networking and computer server areas and increased activity through the distribution and contract manufacturing sales channels. We benefited from strong demand in all our markets and from the success of our new products across a wide range of applications," said Alex Hui, Pericom's president and chief executive.
The company released a third of its new products in the most recent quarter, including the AVC+ family of high-speed interface logic and the LVDS family of crosspoint switches.
Fourth-quarter revenues soared 88.5%, to $30.3 million, from $15.9 million in fiscal 1999. Net income for the quarter was $5.2 million, or 38 cents per share, up from $1.8 million in the year-ago quarter.