Advanced Analogic receives favorable patent ruling
Shares of Advanced Analogic Technologies Inc. (Nasdaq: AATI) advanced sharply in after hours after the Sunnyvale, Calif.-based company said it received a favorable ruling in a case before the U.S. International Trade Commission. An ITC judge issued an initial determination finding that claims of patent infringement by Linear Technology Corp. (Nasdaq: LLTC) were not valid.
As is normal, the initial determination will be considered by the full ITC, and a final determination is expected by Sep. 22, 2007. AnalogicTech anticipates that the initial determination will be confirmed.
AnalogicTech, a semiconductor developer, was last up 18.1%, or $1.45 per share, at $9.46. That's toward the high end of a 52-week range of $4.90 to $11.78; its all-time high is $15.75 set on Feb. 2, 2006. Linear Technology was unchanged in after hours trading at $37.13.
AnalogicTech on April 26 said it had first-quarter 2007 revenue of $21.1 million, an increase of 15% over revenue for the first quarter of 2006. On a GAAP basis, the net loss for the first quarter of 2007 ended March 31 was $0.06 per diluted share, down from earnings of $0.02 per share in the year-ago period.
