InvenSense (INVN) IPO Opens Higher
Tweet
Share
E-mailGet Alerts INVN Hot Sheet
Join SI Premium – FREE
The IPO for InvenSense (NYSE: INVN) is open for trading. Shares are trading at $8.37 after pricing 10,000,000 shares at $7.50, the low end of the $7-$8.50 expected range.
The offering is being led by Goldman Sachs and Morgan Stanley.
InvenSense is the maker of intelligent motion processing solutions. The company's MotionProcessing solution is comprised of our proprietary MotionProcessor and MotionApps platform.
Net revenue was $29.0 million, $79.6 million and $96.5 million for fiscal years 2009, 2010 and 2011, respectively, and net income was $0.2 million, $15.1 million and $9.3 million for these periods, respectively. Net revenue was $43.0 million and $78.7 million for the three and six months ended October 2, 2011, respectively, and our net income was $11.5 million and $20.5 million for these periods, respectively.
Nintendo Co. Limited is the company's largest customer in fiscal years 2009, 2010 and 2011, comprising 80%, 85% and 73% of our net revenue, respectively. Sales of the Nintendo Wii, which continue to account for a significant portion, have declined in the last three fiscal years and are expected to continue to decline.
The offering is being led by Goldman Sachs and Morgan Stanley.
InvenSense is the maker of intelligent motion processing solutions. The company's MotionProcessing solution is comprised of our proprietary MotionProcessor and MotionApps platform.
Net revenue was $29.0 million, $79.6 million and $96.5 million for fiscal years 2009, 2010 and 2011, respectively, and net income was $0.2 million, $15.1 million and $9.3 million for these periods, respectively. Net revenue was $43.0 million and $78.7 million for the three and six months ended October 2, 2011, respectively, and our net income was $11.5 million and $20.5 million for these periods, respectively.
Nintendo Co. Limited is the company's largest customer in fiscal years 2009, 2010 and 2011, comprising 80%, 85% and 73% of our net revenue, respectively. Sales of the Nintendo Wii, which continue to account for a significant portion, have declined in the last three fiscal years and are expected to continue to decline.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mexico imposes countervailing duties on steel imports from China and Vietnam
- Greenland Mines closes Sarfartoq acquisition, updates shareholders
- Commerce chief signals end to Anthropic security rift ahead of potential IPO
Create E-mail Alert Related Categories
IPOsRelated Entities
Morgan StanleySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
