IDT Reports Q4 and Fiscal Year End 2011 Financial Results

Integrated Device Innovation, Inc., the Analog and Digital Company? delivering essential mixed-signal semiconductor solutions, today announced results for the fiscal fourth quarter and year ended April 3, 2011.

"Our better-than-expected fourth quarter results reflected increasing adoption of our mixed-signal solutions by enterprise computing and wireless infrastructure clients, and highlighted continuing gross margin expansion and solid execution across all of our business units," said Dr. Ted Tewksbury, president and CEO of IDT. "We grew revenue 17 percent in fiscal 2011 from the prior year in spite of significant old product rolloffs like advanced memory buffers, network search engines, and PC clocks. New product revenue grew by more than 60 percent, and our core businesses had an outstanding year as we grew communications clock revenue 40 percent to a record high and our DDR3 memory interface revenue doubled. We as well more than doubled our non-GAAP operating income and EPS in fiscal 2011 from the prior year during gross margins reached a 10-year high.

"As we enter fiscal year 2012, we believe that continued growth in our new and core businesses, driven by cloud computing and the ongoing deployment of 4G/LTE (Long Term Evolution, latest standard in the mobile network technology) wireless infrastructure, will drive continuing top line improvement. By focusing on higher margin solutions and maintaining disciplined operating expense controls, we believe we can continue to demonstrate significant leverage in our model and deliver improved value for our shareholders."

The live call at 1

Investors can as well listen to the live call at 1:30 p.m. Pacific time on May 9, 2011 by calling 230-1059 or 234-9959. The conference call replay will be available afterwards 5 p.m. Pacific time on May 9, 2011 through 11:59 p.m. Pacific time on May 16, 2011 at 475-6701 or 365-3844. The access code is 198224.

Integrated Device Innovation, Inc., the Analog and Digital Company?, develops system-level solutions that optimize its clients' applications. IDT uses its market leadership in timing, serial switching and interfaces, and adds analog and system expertise to provide complete application-optimized, mixed-signal solutions for the communications, computing and consumer segments. Headquartered in San Jose, Calif., IDT has design, manufacturing and sales facilities throughout the world. IDT stock is traded on the NASDAQ Global Select Stock Market® in accordance with the symbol "IDTI." Additional information about IDT is accessible at www.IDT.com. Follow IDT on Facebook, LinkedIn, Twitter, and YouTube.

Investors are cautioned that forward-looking statements in this release, including however not limited to statements regarding demand for Company products, anticipated trends in Company sales, expenses and profits, involve a number of risks and uncertainties that could cause actual results to differ materially from current expectations. Risks include, yet are not limited to, global business and economic conditions, fluctuations in product demand, manufacturing capacity and costs, inventory management, competition, pricing, patent and other intellectual property rights of third parties, timely development and introduction of new products and manufacturing processes, dependence on one or more clients for a significant portion of sales, successful integration of acquired businesses and research, availability of capital, cash flow and other risk factors detailed in the Company's Securities and Exchange Commission filings. The Company urges investors to review in full the risks and uncertainties in the Company's Securities and Exchange Commission filings, including however not limited to the Annual Report on Form 10-K for the fiscal year ended March 28, 2010. All forward-looking statements are made as of the date of this release and the Company disclaims any duty to update such statements.

The Company presents non-GAAP financial measures because the investor community uses non-GAAP results in its analysis and comparison of historical results and projections of the Company's future operating results. These non-GAAP results exclude restructuring-related costs, acquisition and divestiture-related charges, share-based compensation expense and certain other expenses and benefits. Management uses these non-GAAP measures to manage and assess the profitability of the business. These non-GAAP results are as well consistent with another way management internally analyzes IDT's results and may be useful to investor community. The Company has reconciled non-GAAP results to the most directly comparable GAAP financial measures in the financial tables at the end of this press release.

IDT, PureTouch, PowerSmart, and the IDT logo are trademarks or registered trademarks of Integrated Device Innovation, Inc. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

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