Semiconductors - Monday, August 27, 2007
In IPO Dog Days, Sonics Inc. Files $80M IPO
Sonics makes Interconnect products and memory management products for systems on a chip in the embedded systems markets. The company today filed to do an $80M IPO. It has raised funding from Cadence, Toshiba, Samsung, Xilinx and a host of venture firms.
For the three months ended June 30, Sonics reported profit of $2.8M compared with loss of $900K during the prior-year period. During the same period, Sonics increased its revenue to $4.3M from $4.2M.
Sonics has three main customers: Broadcom, Texas Instruments, and Toshiba.
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