Key Developments For GSI Technology, Inc.
GSI Technology, Inc. (GSIT.O) (Consolidated Issue listed on NASDAQ Global Market)
GSI Technology, Inc. Acquires New Headquarters Building In Sunnyvale, California
GSI Technology, Inc. announced that it has acquired a 44,277 sq. foot (4,113 sq. meter) office building and associated grounds at 1213 Elko Drive, in Sunnyvale, California. GSI intends to use the property as a new corporate headquarters. The facility will also house U.S. development and production operations. Terms of the deal were not disclosed.
GSI Technology, Inc. Issues Q3 2010 Revenue Guidance Above Analysts' Estimates
GSI Technology, Inc. announced that for third quarter of 2010, it expects net revenues to be in the range of $16.1 to $16.9 million. According to Reuters Estimates, analysts were expecting the Company to report revenue of $16 million for third quarter of 2010.
GSI Technology, Inc. Acquires SRAM Product Line from Sony Corporation's Sony Electronics
GSI Technology, Inc. announced that it has signed and closed definitive agreements with Sony Electronics Inc., a unit of Sony Corporation, under which GSI acquired substantially all of the assets related to Sony`s SRAM product line. At closing, GSI paid Sony approximately $5.2 million in cash. GSI will make a further cash payment to Sony of approximately $1.7 million following a post-closing adjustment to reflect actual product inventory on hand at closing. GSI will also make future cash payments based on the sale of certain acquired SRAM products over an eight quarter period. The acquisition will be accounted for under the purchase method of accounting.
GSI Technology, Inc. Issues Q2 2010 Revenue Outlook Slightly Below Analysts' Estimates
GSI Technology, Inc. announced that for the second quarter of 2010, it expects net revenues to be flat compared to the June quarter. The Company reported net revenues of $14.2 million for the first quarter of 2010. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $14.9 million for the second quarter of 2010.
GSI Technology, Inc. Issues Q1 2010 Revenue Guidance Below Analysts' Estimates
GSI Technology, Inc. announced that for first quarter of 2010, it expects net revenues to be in the range of $13.6-$14.2 million. According to Reuters Estimates, analysts were expecting the Company to report revenue of $14.8 million for the same period.
