AnalogicTech Files for $172.5 Million IPOApril 10, 2005 by Jeff Shepard
Advanced Analogic Technologies Inc. (AnalogicTech, Sunnyvale, CA), a developer of power management solutions, has filed for an initial public offering under the ticker symbol AATI. The offer is intended to raise $172.5 million. The S-1 form that was filed showed that AnalogicTech made a net income of $15.1 million on revenues of $51.3 million in 2004 up from $873,000 net income on $26.5 million revenues and in 2003.
The company received backing from Samsung Electronics Co. Ltd. in June 2004 when Samsung invested $2 million from the company. Siliconix Inc. had filed a law suit alleging patent infringement against Advanced Analogic Technologies in January 2004.
The S-1 stated, "At this time, management believes that the company has a meritorious defense to each of Siliconix's claims. If the company does not prevail in this litigation, the company could be ordered to pay monetary damages."
The company added that it was improbable that an adverse outcome to this matter could have a material effect on the company's financial position, results of operations or cash flows.