Inphi saw revenues rise during the second quarter as it sold off its memory products business.
On June 30, Inphi announced it would sell its memory products business to Sunnyvale-based Rambus. Inphi said revenues rose from $49.4 million in 2015 to $60.5 million during the second quarter of 2016 when revenues from the memory business are not factored in to either year.
Inphi said with the memory business included, revenues were $70.3 million during the quarter, up from $60.7 million in 2015. The company also posted a net income of $531,000 without including money from the memory business. The company also had earnings of 1 cent per share.
On Aug. 4, Inphi completed the sale of its memory business to Rambus. Inphi, which designs chips to pack more memory onto Internet servers and increase bandwidth, employs a large engineering force in Thousand Oaks. The sale will allow it to focus on its communications business.
About 75 employees from Inphi will be transferred to Rambus in the deal. An Inphi spokeswoman told the Business Times that some employees from the Thousand Oaks location will be retained by Rambus.
Another Tri-County company also completed a deal with Rambus on Aug. 8. Camarillo-based semi-conductor manufacturer Semtech completed the sale of its Toronto-based subsidiary Snowbush IP to Rambus.
Semtech announced the $32.5 million sale of Snowbush IP on June 6, and said it could receive more payments from Rambus through 2022 based upon a percentage of sales by Rambus of new products expected to be developed by Rambus. The final sale price was $32 million.
• Contact Philip Joens at [email protected]