July 8, 2003 – Austin, TX – Hoping to leverage a 147% increase in its quarterly revenues, SigmaTel has filed for a $75 million IPO. The company, which makes semiconductors for MP3 players and digital set-top boxes, posted revenue of $13 million, up from $5.2 million one year ago.
The company posted a net loss of $615,000, compared with a $3.4 million loss in 1Q02. Merrill Lynch and JP Morgan are underwriting the IPO, along with CIBC World Markets and Needham & Co. The company’s major shareholders include Creative Technology Ltd. (31% stake), Battery Ventures (25%) and a fund managed by Invesco Private Capital (11%).