Sonics, Inc. has filed to come public via an IPO with $80 million listed as the propsed limit for filing purposes. The company has the proposed "SNCS" ticker on NASDAQ and lists UBS as the lead underwriter and co-managers are Cowen & Co. and ThinkEquity Partners.
Sonics offers intelligent interconnect solutions that manage the on-chip communications in system-on-chip semiconductor devices. Its SMART Interconnect solutions manage complex on-chip communications such as those resulting from the convergence of video, voice and data processing on an SoC. It allows semiconductor companies and OEMs to reduce time to market, decrease development costs and increase performance of these devices for use in high volume applications such as mobile phones, consumer electronics, personal computers, automotive electronics and office automation products. Sonics licenses its SMART Interconnect solutions primarily to semiconductor companies and its largest customers include Broadcom, Texas Instruments, and Toshiba. As of June 30, 2007, it claims that customers had shipped over 250 million semiconductor devices using its SMART Interconnect solutions.
The company posted $14.913 million in revenues for its fiscal 2007 ended March 31, 2007. For the same period its income from operations was $1.253 million and its net loss was $2.731 million.
Jon C. Ogg
August 27, 2007
Jon Ogg can be reached at email@example.com; he does not own securities in the companies he covers.