Summit Microelectronics Announces Record Revenues and Profit

Summit Microelectronics Announces Record Revenues and Profit

SUNNYVALE, CALIF. – MARCH 13, 2012 – Summit Microelectronics, the recognized leader in programmable power integrated circuits, today announced that it achieved record revenues and profits for the fourth quarter and full year of 2011.

“Summit had an outstanding year,” said Patrick Brockett, Summit's president and CEO. “Our record year was topped off with fourth quarter 2011 revenues more than doubling from fourth quarter 2010. Our design-win momentum continues to accelerate, and we are confident that the company will set new highs in financial performance in 2012.”

Brockett continued, “Summit is already outperforming the industry in revenue growth, revenue-per-head and return on R&D investment. This performance has enabled us to reach our pre-tax profit goal in the twenty percent range much earlier than planned.” Brockett explained that the company’s growth was driven by multiple design wins in the smart phone and tablet market segments where the need for long battery life and safe, fast charging demand the type of product technology supplied by Summit.

Additionally, Summit’s recent success was bolstered by a new line of programmable DC-DC converters winning volume designs in the communications, server, set-top box, and tablet and ultra-book PC markets.

About Summit Microelectronics: “Programmable Power for a Green Planet”

Summit Microelectronics is the leader in flexible, mixed-signal integrated power management solutions, for the consumer, communications and computing markets, combining high-performance analog power with powerful digital control in a single chip. This integration and flexibility combined with a simple GUI-based development tool and non-volatile configuration yields the lowest total BoM cost while reducing system design time and effort. For more information, visit www.summitmicro.com.

“MobileGreen Technologies”

Summit Microelectronics actively supports industry efforts towards creating a greener planet. The Company’s MobileGreen™ technologies significantly reduce the energy consumption and waste material footprint in our customers’ products. For more information visit www.summitmicro.com/MobileGreen.