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SiGe Semi files for IPO
Mark LaPedus
7/30/2010 12:36 AM EDT
SAN JOSE, Calif. -- RF chip maker SiGe Semiconductor Inc. has filed for an initial public offering of shares of its common stock on NASDAQ under the symbol “SIGE.” The IPO is valued at $140 million, according to reports.
SiGe provides integrated RF semiconductor front-end solutions that enable wireless connectivity across a wide range of applications. But the chip maker has been in the red since its inception in 1996. As of Jan. 1, 2010, its accumulated deficit was $114.9 million.
In fiscal 2009, Hon Hai, Promaster, USI, Nintendo and RichPower accounted for 27 percent, 18 percent, 15 percent, 15 percent and 14 percent of its revenue, respectively, and collectively accounted for 89 percent of its revenue for this period, according to the filing.
SiGe's revenue increased from $31.3 million in fiscal 2005 to $96.9 million in fiscal 2008, before declining in fiscal 2009. The Andover, Mass.-based company had sales of $82.602 million in 2009, down from $96.921 million in 2008, according to a filing. It posted a loss of $4.416 million in 2009, compared to a loss of $3.839 million in 2008, according to the filing.
For the first quarter of 2010, SiGe had sales of $20.690 million and break-even earnings. This compares to sales of $16.437 million and a loss of $2.654 million a year ago.
As of April 2, 2010, it had 132 employees. The fabless company currently outsources ''silicon wafer fabrication to IBM Microelectronics, GaAs wafer fabrication to Win Semiconductor Corp. and integrated passive device manufacturing to STATS ChipPAC Ltd. Our primary assembly and test contractors include Unisem Berhad, Foxconn and Tong Hsing Electronic Industries Ltd.,'' according to the filing.
SiGe provides integrated RF semiconductor front-end solutions that enable wireless connectivity across a wide range of applications. But the chip maker has been in the red since its inception in 1996. As of Jan. 1, 2010, its accumulated deficit was $114.9 million.
In fiscal 2009, Hon Hai, Promaster, USI, Nintendo and RichPower accounted for 27 percent, 18 percent, 15 percent, 15 percent and 14 percent of its revenue, respectively, and collectively accounted for 89 percent of its revenue for this period, according to the filing.
SiGe's revenue increased from $31.3 million in fiscal 2005 to $96.9 million in fiscal 2008, before declining in fiscal 2009. The Andover, Mass.-based company had sales of $82.602 million in 2009, down from $96.921 million in 2008, according to a filing. It posted a loss of $4.416 million in 2009, compared to a loss of $3.839 million in 2008, according to the filing.
For the first quarter of 2010, SiGe had sales of $20.690 million and break-even earnings. This compares to sales of $16.437 million and a loss of $2.654 million a year ago.
As of April 2, 2010, it had 132 employees. The fabless company currently outsources ''silicon wafer fabrication to IBM Microelectronics, GaAs wafer fabrication to Win Semiconductor Corp. and integrated passive device manufacturing to STATS ChipPAC Ltd. Our primary assembly and test contractors include Unisem Berhad, Foxconn and Tong Hsing Electronic Industries Ltd.,'' according to the filing.
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