SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
July 27, 2005
Date of report (Date of earliest event reported)
Integrated Device Technology, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-12695 94-2669985
(State of (Commission File Number) (IRS Employer
Incorporation) Identification No.)
6024 Silver Creek Valley Road, San Jose, California 95138
(Address of principal executive offices) (Zip Code)
(408) 284-8200
(Registrant's telephone number, including area code)
Item 2.02 and Item 7.01. Results of Operations and Financial Condition.
The information in this Report, including the Exhibit 99.1 attached
hereto, is furnished pursuant to Item 2.02 and Item 7.01 of this Form 8-K.
Consequently, it is not deemed "filed" for the purposes of Section 18 of the
Securities and Exchange Act of 1934, or otherwise subject to the liabilities of
that section. It may only be incorporated by reference in another filing under
the Exchange Act or Securities Act of 1933 if such subsequent filing
specifically references this Form 8-K.
On July 27, 2005, Integrated Device Technology, Inc. (the "Company")
announced its results of operations and financial condition as of and for the
quarter ended July 3, 2005 in a press release that is attached hereto as Exhibit
99.1.
The Company's press release contains non-GAAP financial measures.
Pursuant to the requirements of Regulation G, the Company has provided
reconciliations within the press release of the non-GAAP financial measures to
the most directly comparable GAAP financial measures included in the press
release.
Non-GAAP Statements of Operations are presented in the press release.
Non-GAAP Statements of Operations exclude acquisition-related charges and other
expenses and benefits that management believes are not directly related to the
Company's ongoing operations. For example, the results for the quarter ended
July 3, 2005 exclude tax benefits related to the net reduction in tax reserves
as a result of a partial settlement with the IRS, gains realized on the sale of
assets held in connection with the earlier closure of the Salinas, California
fabrication facility, an other-than-temporary impairment on our investment
portfolio, and restructuring related expenses in connection with the actions
taken over the last two quarters. The results for the quarter ended June 27,
2004 exclude an other-than-temporary impairment on our investment in NetLogic
and restructuring related expenses in connection with reductions in force. These
non-GAAP results are consistent with another way management internally evaluates
results of operations and the Company believes this presentation format may be
useful to readers of our financial results. However, the Company's non-GAAP
results are not in accordance with GAAP and may not be comparable to non-GAAP
information provided by other companies. Non-GAAP information provided in the
Company's press release should be considered a supplement to, and not a
substitute for, financial statements prepared in accordance with GAAP.
The foregoing description is qualified in its entirety by reference to
the Company's Press Release dated July 27, 2005, a copy of which is attached
hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
99.1 Press Release dated July 27, 2005.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: July 27, 2005
INTEGRATED DEVICE TECHNOLOGY, INC.
By: /s/ Clyde R. Hosein
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Clyde R. Hosein
Vice President and Chief
Financial Officer
(duly authorized officer)
EXHIBIT INDEX
Exhibit No. Description
99.1 Press Release dated July 27, 2005.