Mindspeed buys assets of W-CDMA chip vendor
IPG specializes in advanced signal processing technologies for W-CDMA 3GPP standard release 8, which deliver significant cost and power advantages, Mindspeed (Newport Beach, Calif.) said. IPG also designed a dual-mode turbo decoder which combines W-CDMA and long-term evolution standards, reducing the memory and logic complexity compared with standard decoders, Mindspeed said.
"The team at IPG has established a strong reputation for exceptional communications systems design, software-defined radio expertise and dual-mode wireless development," said Thomas Medrek, Mindspeed’s senior vice president and general manager of communications convergence processing, in a statement.
Mindspeed said it expects the deal to be immaterial to its fiscal third quarter and full year earnings per share.
Also Monday, Mindspeed reported product revenue for the quarter ended July 1 of $42.2 million, an increase of 10 percent from the previous quarter but a decrease of 3 percent compared with the year-ago quarter. The company reported a net income in accordance with generally accepted accounting principles (GAAP) of $464,000, or 1 cent per diluted share, compared to a GAAP net loss of $759,000 in the prior quarter and a GAAP net income of $4.9 million in the year-ago quarter.
"Our market leadership in 4G wireless is driving customer engagements with a multitude of original equipment manufacturers for a variety of basestation applications targeting key service provider 4G/LTE rollouts worldwide, most of which are expected to enter field trials in calendar 2012," said Raouf Y. Halim, Mindspeed’s CEO, in a statement.
Mindspeed said it expects revenue for the current quarter to be between $42.2 million and $43.9 million, flat to up four percent sequentially.
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