By Christopher Zinsli
Of DOW JONES VENTUREWIRE
Wintegra Inc. posted its third straight profitable quarter as
mobile operators turned to the maker of network processors for help
in improving their infrastructure, the company said Tuesday in a
regulatory filing.
Wintegra, which is making its second bid to go public, reported
a second-quarter profit of $2.8 million on revenue of $14.2
million. Both figures were the largest since at least the beginning
of 2008, the earliest period for which information was given.
The Austin, Texas, chip maker said sales to the mobile backhaul
market are on the upswing as communications service companies work
to ease bottlenecks in their networks. That market has accounted
for an increasingly large portion of the company's revenue over the
years--64% in the first half of this year from 21% in 2007.
Wintegra was founded 10 years ago and has funded operations
through loss-making years with venture capital. Its largest
shareholders include Concord Ventures, Magma Venture Partners,
Genesis Partners, Texas Instruments, Tenaya Capital and Marvell
Technology Group, by order of the size of their stake.
The company had filed for an IPO in 2006 but withdrew it later
that year due to unfavorable market conditions. It registered again
in May and has applied to list on the Nasdaq Global Market under
the symbol WNTG. Underwriters for the offering are Barclays
Capital, Deutsche Bank Securities, Needham & Co., Oppenheimer
& Co. and Roth Capital Partners.
-By Christopher Zinsli, Dow Jones VentureWire; 212-416-2034;
christopher.zinsli@dowjones.com