IPO Filing: GSI Technology

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By Douglas A. McIntyre Published
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GSI Technology has filed to come public via an IPO of some $57.5 million worth of stock, although terms have not been set.  The joint book-runners are Needham and W.R.Hambrecht; and others in the underwriting are R.W.Baird and Stanford Group.  The proposed ticker on NASDAQ is "GSIT."

GSI is a provider of high speed static random access memory (SRAM) used primarily in high-performance networking and telecommunications equipment, such as routers, switches, wide area network infrastructure equipment, wireless base stations and network access equipment; and the company operates in the "very fast" segment of operating in less than 10 nanoseconds.  The company is fabless and uses Taiwan Semi as its OEM and claims to work with Cisco, Huawei, and Nortel. It was incorporated as Giga Semiconductors in 1995 and changed the name in 2003.

2006 and 2007 may be a transitionary period away from older products and into newer ones, because its revenues in 2005 were higher than 2006.  The 2005 revenues were $45.7 million and net income after tax was $4.78 million; with 2006 revenues of $43.1 million and income aftertaxes of almost $4.25 million.

The company did file to come public back in 2004, but later withdrew the IPO filing.  As this gets closer we’ll follow up on more.

Jon C. Ogg
January 10, 2007

Contact [email protected] for any questions or corrections.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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