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CMD sells LED driver assets

Posted: 06 Aug 2008     Print Version  Bookmark and Share

Keywords:LED drivers  mobile handsets  R&D expense 

California Micro Devices (CMD) has sold the assets related to its line of LED drivers for mobile handsets to a third party buyer for a cash payment of Rs.5.57 crore ($1.3 million). The transaction includes existing products, products under development and related patents. Two engineers who had worked on this product line for CMD have also joined the buyer.

CMD expects to record a gain of approximately Rs.4.71 crore ($1.1 million) in Q2 of its fiscal 2009 that was not reflected in its recent outlook for the quarter and to see a modest reduction in R&D expense going forward compared to what it would have otherwise been. That reduction has been reflected in its recent guidance.

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