Date: 06/02/2009

DC/DC converter specialist Advanced Analogic's revenues for 4Q08 down by 26.8%

Advanced Analogic net revenue for the fourth quarter of 2008 was $18.6 million, a decrease of 42.1% over net revenue of $32.1 million for the fourth quarter of 2007 and a sequential decrease of 26.8% from net revenue of $25.4 million for the third quarter of 2008. Revenue for the fiscal year ended December 31, 2008, was $90.3 million, down from revenue of $109.6 million for 2007.

AnalogicTech reported gross margins of 38.2% for the fourth quarter of 2008, compared to 52.6% for the fourth quarter of 2007 and 50.0% for the third quarter of 2008. Non-GAAP gross margin was 43.3% for the fourth quarter of 2008, compared to 53.6% for the fourth quarter of 2007 and 51.4% for the third quarter of 2008. For fiscal year 2008, gross margin was 48.3%, compared to 53.5% for fiscal year 2007. Non-GAAP gross margin was 50.4% for fiscal year 2008, compared to 54.7% for fiscal year 2007. The Company ended the quarter with $109.5 million in cash, cash equivalents, and short-term investments.

Richard K. Williams, President, CEO and CTO of AnalogicTech blames it on the overall weak market also he said of taking prudent measures to lower expenses.

Advanced Analogic's ModularBCD products comprised 19% of sales during the fourth quarter.

DC-DC converters are widely used in battery operated hand-held devices to power and regulate the DC voltage and charge the batteries inside them. Since the consumer market is hard hit by the recession it's so natural for a pure power supply IC vendor to feel the stronger pinch.