Volterra Semiconductor Files IPO for Up to $50 Million
Volterra Semiconductor Corp. (Fremont, CA), a designer of analog and mixed-signal power management semiconductors for the computing, storage, networking and consumer markets, has filed an initial public offering with the Securities and Exchange Commission to sell up to $50 million in stock.
The company announced that it plans to use offering proceeds for general corporate purposes. It may also use a portion of the proceeds to fund possible investments or acquisitions. The company plans to list its common stock on the Nasdaq National Market under the symbol "VLTR." Details about the number of shares offered and the estimated price range for the IPO weren't disclosed in Wednesday's filing with the Securities and Exchange Commission.
Revenue for Volterra increased from $4.4 million in 2001 to $25.1 million in 2003 when it made a net loss of $4 million. In the first quarter of this year to March 31, it recorded net income of $269,000 on revenue 25.4 percent higher at $7.6 million. The company's chips are incorporated into products from companies such as Cisco Systems, EMC, Ericsson, Hewlett-Packard, Hitachi, IBM and NEC.