Fifth Consecutive Quarter of Profitability Propels Sonics’ Growth
Company Adds European Sales Director, CEO to Present at Cowen Conference
MOUNTAIN VIEW, Calif., — May 30, 2006 - Sonics, Inc.®, the premier supplier of system-on-chip (SoC) SMART Interconnect™ solutions today announces continued profitability for the first quarter of 2006, which marks the fifth consecutive quarter of profitability for the company. To support this growth, Sonics has also announced the addition of Darrel Kingham as director of European sales.
“Our five profitable quarters and sequential top line revenue growth are a testament to the great progress we have made as a growth company,” said Grant Pierce, Chief Executive Officer, Sonics, Inc . “We continue to expand within our current customer base, while adding new customers at an excellent rate. Our early design wins are now in production contributing to a solid mix of royalties and license fees.”
Mr. Pierce will be presenting at the 34th Annual Cowen and Company Technology Conference to be held at the New York Palace Hotel, 455 Madison Avenue, New York, New York from Wednesday, May 31, through Friday, June 2, 2006. Mr. Pierce will present an overview of Sonics at 3:05 P.M. on June 1, 2006.
The world-wide growth in digital content consumption has accelerated the need to converge voice, video, and data onto a single semiconductor chip in order to deliver high performance products at low price points. Sonics SMART Interconnect™ solutions are used by semiconductor companies and original equipment manufacturers to manage the interaction of many of the intellectual property cores needed to support the convergence trend. Sonics is the leader in providing solutions that dramatically improve chip development economics as a result of outsourcing the interconnect design.
Sonics solutions have been used in over 100 million devices, including consumer appliances such as HDTVs; home routers; leading-edge cell phones; automotive camera-based applications; and as part of gaming platforms.
To support the company’s growth trend, Sonics has appointed Darrel Kingham director of European sales. Kingham joins Sonics from ARM Ltd. where he managed a number of key global accounts in Europe . Before ARM, he was a product manager at Unique Memec, where he was responsible for growing the distribution business for a number of high profile semiconductor companies. He brings an extensive engineering background to Sonics having worked in product design and field applications.
Kingham earned a First Class BEng (Hons) in Electronic Engineering from the University of Central England in Birmingham (UK) and served a traditional apprenticeship in Electrical/Electronic Engineering.
About Sonics
Sonics, Inc. ® is the premier supplier of SMART InterconnectTM solutions that deliver high SoC design predictability and increased design efficiency. Major semiconductor and systems companies including Broadcom, Samsung, Texas Instruments and Toshiba have applied Sonics’ SMART Interconnect solutions in leading products in the wireless, digital multimedia and communications markets. Sonics is a privately-held company funded by Cadence Design Systems, Toshiba Corporation, Samsung Ventures, and venture capital firms Investar Capital, Smart Technology Ventures, TL Ventures, Easton Hunt Capital, JAFCO Ventures, and H&Q Asia-Pacific. For more information, see www.sonicsinc.com
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Sonics Inc. and the company's logo are registered trademarks and SMART Interconnect and SMART Interconnects. All other trademarks are the property of their respective owners.
