For investor information contact:
Heidi Flannery, Investor Relations
Reports Fourth Quarter and Fiscal Year 2005 Financial Results
FREMONT, Calif., January 30, 2006
Volterra Semiconductor Corporation (Nasdaq: VLTR), a leading
provider of high-performance analog and mixed-signal power management semiconductors, today
reported financial results for its fourth quarter and fiscal year ended December 31, 2005.
Net revenue for the fourth quarter of 2005 was $13.5 million versus net revenue of $14.6 million
for the fourth quarter of 2004 and net revenue of $12.5 million for the third quarter of 2005. Net
income was $1.3 million, or $0.05 per share (diluted), for the fourth quarter of 2005, compared
with net income of $2.7 million, or $0.10 per share (diluted), for the fourth quarter of 2004.
Volterra also reported net income and basic and diluted net income per share on a non-GAAP-basis.
Non-GAAP net income excludes the effect of stock-based compensation expense, net of tax. Non-GAAP
net income was $1.2 million, or $0.05 per share (diluted), for the fourth quarter of 2005, compared
to non-GAAP net income of $2.9 million, or $0.11 per share (diluted), for the fourth quarter of
Our fourth quarter financial results were in line with the guidance we gave in October, said
Volterra President and CEO Jeff Staszak. As predicted, our graphics business was buoyed with
ATIs high-end performance ramp. We expect to see heightened activity in the server market in Q1
and throughout 2006 as our customers ramp their new Intel Bensley-based products. Additionally, we
expect solid revenue contribution from both NVIDIA and ATI in 2006.
For the full fiscal year 2005, net revenue increased to $53.9 million, an increase of 23% over net
revenue of $43.9 million for the fiscal year 2004. Net income was $5.4 million or $0.21 per share
(diluted), for the fiscal year ended December 31, 2005, compared to $5.1 million, or $0.22 per
share (diluted), for fiscal year 2004. Non-GAAP net income was $5.6 million, or $0.21 per share
(diluted), compared to non-GAAP net income of $5.8 million, or $0.25 per share (diluted), for
fiscal year 2004.
Earnings Conference Call
Volterra will be conducting a conference call today at 5:30 p.m. (EDT). To access the conference
call, investors can dial 800-218-9073 approximately ten minutes prior to the initiation of the
teleconference. International and local participants can dial (303) 262-2211. Investors should
reference Volterra or reservation number 11051299. A webcast of the conference call also will be
available from the Investor Section of the Companys website at: http://www.volterra.com/.
A digital replay of the conference call will be available through midnight on Monday, February 6,
2006. To access the replay, investors should dial (800) 405-2236 or (303) 590-3000 and enter
reservation number 11051299. The web cast will be available on the Companys website until midnight
on Monday, February 27, 2006.