SAN JOSE, Calif. -- Wintegra Inc. (Austin, Texas) has filed for an initial public offering (IPO) in the United States--again.
In 2006, network processor startup Wintegra postponed its initial public offering, due in part to weakness in the communications sector.
Now, it is trying again. The fabless semiconductor company was founded in 2000 and shipped its first product in 2001. Customers include Alcatel-Lucent, Alvarion, Cisco, Datang, ECI, Ericsson, Huawei, Interphase, Motorola, New Postcom, Potevio, RAD, Tellabs and ZTE.
Wintegra's foundry partners are Taiwan Semiconductor Manufacturing Company Ltd. Co. (TSMC) and Texas Instruments Inc. Advanced Semiconductor Engineering Inc. (ASE) provides backend services for the chip maker.
The chip maker generated $28.6 million in revenue in 2009, and for the first quarter of 2010 its revenue grew to $12.1 million from $6.3 million in the first quarter of 2009, an increase of 92 percent, according to a filing.
''We experienced a net loss of $2.0 million and $0.9 million for the year ended December 31, 2009 and for the first quarter of 2009, respectively, and net income of $1.6 million for the first quarter of 2010,'' according to the filing.
In 2008, it had sales of $30.2 million, but lost $3.7 million, it was noted. As of March 31, 2010, the company had an accumulated deficit of $34.2 million.
As of March 31, 2010, it had a total of 159 full-time employees.
''In 2009, Alcatel-Lucent accounted for 24 percent (of its sales), Tellabs accounted for 23 percent and Ericsson accounted for 10 percent of our revenue. In the quarter ended March 31, 2010, Alcatel-Lucent accounted for 33 percent, Tellabs accounted for 17 percent and Cisco accounted for 10 percent of our revenue,'' according to the filing.