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RF Micro Devices® Delivers Sequential Growth In Quarterly Revenue And Earnings Per Share
Tuesday , October 23, 2012 16:00ET
GREENSBORO, N.C., Oct. 23, 2012 /PRNewswire/ --
Quarterly Highlights:
-- September 2012 Quarterly Revenue Increases Sequentially To $209.7
Million
-- GAAP Gross Margin Equals 31.7% And Non-GAAP Gross Margin Expands 110
Basis Points To 35.2%
-- GAAP Diluted EPS Is ($0.06), And Non-GAAP Diluted EPS Is $0.03
-- RFMD Anticipates Revenue Of Approximately $245 Million And Non-GAAP EPS
Of Approximately $0.06 In The December 2012 Quarter
RF Micro Devices, Inc. (Nasdaq GS: RFMD), a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies, today reported financial results for the Company's fiscal 2013 second quarter, ended September 29, 2012.
RFMD's second quarter revenue increased sequentially by approximately 3.5% to $209.7 million, versus $202.7 million in the prior quarter. The sequential revenue growth was primarily the result of sales growth in RFMD's Cellular Products Group (CPG), reflecting diversification, category expansion, and content gains in 3G/4G components.
On a GAAP basis, gross margin totaled 31.7%, quarterly operating loss was ($10.2) million, and quarterly net loss was ($16.5) million, or ($0.06) per diluted share. On a non-GAAP basis, gross margin expanded 110 basis points sequentially to 35.2%, quarterly operating income totaled $9.2 million, and quarterly net income was $7.8 million, or $0.03 per diluted share.
Strategic Highlights
-- RFMD continued to increase its content in the world's leading smart
devices and reference designs
-- CPG commenced volume shipments of 3G/4G LTE components to multiple
customers in support of multiple flagship smartphones
-- CPG increased sales of 3G/4G components to greater than 75% of revenue
-- RFMD's Multi-Market Products Group (MPG) grew WiFi revenue more than 15%
quarter over quarter
-- MPG commenced production shipments of high-performance 802.11n WiFi
front ends in support of multiple applications, including smartphones,
tablets, enterprise equipment, and consumer products
-- MPG captured a high-performance 802.11ac WiFi front end design win in
support of a leading smartphone manufacturer
Financials continued at:
http://www.knobias.com/story.htm?eid=3.1.19fa8902149be243f1cd30c9091544458840d9ca57f39df08f50a6fb11902e0a
RFMD: Q2 Adj EPS 3c vs 11c Beats 1c Est; Guidance Varies from Consensus
Tuesday , October 23, 2012 16:09ET
QUARTER RESULTS
RF Micro Devices Inc (RFMD) reported Q2 results ended September 2012. Q2 Revenues were $209.67M; -14.00% vs yr-ago; BEATING revenue consensus by +5.90%. Adjusted Q2 EPS was 3c; -72.73% vs yr-ago; BEATING earnings consensus by +200.00%.
Q2 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $209.67M $243.81M -14.00% $197.98M +5.90%
---------- ------------ ------------ ---------- ------------ ----------
Adj EPS: 3c 11c -72.73% 1c +200.00%
---------- ------------ ------------ ---------- ------------ ----------
RF Micro Offers Longs Solid History Of Added To Earnings-Driven After-Hours Gains
October 23, 2012 by: Midnight Trader
http://seekingalpha.com/article/941211-rf-micro-offers-longs-solid-history-of-added-to-earnings-driven-after-hours-gains?source=yahoo
RF Micro Devices (RFMD) is due with its Q2 results after the close tonight, and Wall Street analysts expect the company to report a profit of $0.01 per share on revenue of $198 million, according to Capital iQ.
Over the long term, RFMD is favoring a widening trend, with more aggressive next-day trade in 20 of the last 31 quarters.
Looking deeper into the data, RFMD has posted an extended-hours gain in response to earnings news for 13 quarters in our database. Of those evening gains, the stock has extended its move the following day nine times, or 69% of the time.
RFMD has posted an extended-hours decline in response to earnings news for 18 quarters. Of those declines, the stock has extended its move the following day 11 times, or 61% of the time.
On July 24, 2012, RFMD declined 5.2% in after-hours trade after meeting Q1 estimates. The stocks was crushed the next day, closing the July 25 regular session down 16.4%.
On April 24, 2012, RFMD advanced 2.5% in after-hours trade after reporting mixed results and guidance. The stock surged higher the next day, closing the April 25 regular session up 8.8%.
On Jan. 24, 2012, RFMD advanced 1.6% in night trade following mixed results and guidance. The stock narrowed its gains slightly the next day, ending the Jan. 25 regular session with a 1.4% gain.
On Oct. 25, 2011, the stock rose 1.4% during evening trading after the company missed with EPS but guided for a revenue beat. Shares rose a stronger 5.5% the next day.
On July 26, 2011, the stock rose 6.6% after a Q1 beat and guidance for sequential revenue gain. Shares rose a tamer 1.2% the next day.
On April 26, 2011, the stock fell 3.4% after the company reported in-line earnings and guides for a sequential revenue drop. Shares rose 4.2% the next day, however.
On Jan. 25, 2011, the stock fell 8.8% after an earnings beat but disappointing revenue guidance. Shares dropped a steeper 9.7% the next day.
On Oct. 26, 2010, the stock rose 2.9% in after-hours trading following an earnings beat. Shares rose a robust 15.2% the next day.
On July 27, 2010, RFMD declined 1.3% in evening trade despite beating Q1 estimates and setting in-line guidance. It headed deeper south the next day, closing the July 28 regular session down 5.6%.
On April 27, 2010, RFMD gained 4.3% in after-hours trade after beating Q4 expectations. The stock surged higher the following day, closing the April 28 regular session up 7.8%.
On Jan. 26, 2010, the stock fell 2.3% after an earnings beat but a miss with revenue. Shares dropped 3.9% the next day.
On Oct. 27, 2009, the stock gained 6.4% during evening trading after a Q2 earnings beat. Shares rose a much slimmer 0.5% the following day.
On July 23, 2009, RFMD edged up 0.4% in after-hours trade after handily beating Q1 expectations. The stock soared in the following day's regular session, ending up 15.2% on July 24.
On April 28, 2009, the stock fell 7.5% after reporting a wider-than-expected Q4 loss. Shares fell a deeper 10.5% the next day.
On Jan. 31, 2008, RFMD declined 3.4% in after-hours trade after missing on Q3 and setting guidance below the Street. The stock added to its downside on Feb. 1, losing 3.7% by the regular session close.
On Oct. 23, 2007, RFMD was cut for a 6% decline in after-hours trade despite beating Street estimates and guiding mostly in-line. Sellers hit the issue harder the following regular session, with RFMD closing Oct. 24 down 12.6%.
On July 24, 2007, the stock rose 5.4% after reporting shy with revs but beating with earnings. The gain was a stronger 9.8% the next day.
On April 24, 2007, the stock fell 5.6% in the evening hours after reporting ahead with Q4 but disappointing with Q1 guidance. The loss was pared to 3.5% the next day.
On Jan. 23, 2007, RFMD jumped 6.8% in night trade after beating Q3 estimates and forecasting Q4 in line to above expectations. Shares soared higher the following day, ending the regular session up 13.6%.
On Oct. 24, 2006, the stock slumped 3.3% in the evening session after the company reported EPS ahead by a penny but missed with revenue. The loss narrowed to a slim 0.5% the next day.
On July 25, 2006, RFMD slid 6% in after-hours trade after the company posted EPS in line with estimates, came in just short on sales, and guided for forward results to be in-line or below the Street view. The stock recorded a sharp about-face in the following day's regular session, rising 7.3% on July 26.
On the heels of better than expected results and guidance in the evening of April 25, 2006, RFMD put up a 4.3% gain. That gain increased to 14% the next day.
Back on Jan. 24, 2006, RFMD roared 8.9% higher in after-hours trade after the company topped EPS estimates, just missed on sales, and guided its forward outlook above expectation. The stock added smartly to its upside the following day, rising 15.8% by the Jan. 25 closing bell.
On October 25, 2005, RFMD advanced 3.5% after topping Q2 estimates and forecasting Q3 above Street views. However, it couldn't hold the gains and slid back 7.5% in the next day session.
On July 26, 2005, RFMD eased 2.8% after beating Q1 estimates but coming in just shy on revenues. The stock widened its losses the next day, ending regular hours trading down 3.1%.
On April 26, 2005, RFMD dropped 4.6% after missing on Q4 revenue and EPS targets and guiding Q1 below the Street view. Its loss widened to 7.3% in the April 27 regular session.
RFMD lost 7.2% the night of Jan. 25 after the company beat Q3 expectations but issued a weaker Q4 outlook. The stock pared back its declines in next-day trade, losing 3% by the Jan. 26 closing bell.
On Oct. 26, 2004 RFMD lost 2.6% in after-hours trade after meeting Street expectations but issuing guidance that could miss estimates. It recorded an abrupt about-face the next day, ending bell-to-bell play up 5.1%.
On July 20, 2004 RFMD dropped 3.2% in after-hours trade after missing expectations and guiding lower. The stock tumbled 12.6% by the close of the next day's regular session.
RFMD lost 10% the night of April 27, 2004 after beating on sales but guiding lower. It narrowed its declines the next day, ending bell-to-bell play down 8.5%.
On Jan. 20, 2004, RFMD plummeted 15.2% in night trade on better-than-expected results but lower guidance. It saw more aggressive sell action the next day, declining 19.6% by the close.
but very good co.. will rise to @ least 4-5... if u can enter in the high 2's...thats my take
this stock is kinda in the middle of the chart...if it breaks lower on volume..get outta the way!
RFMD 2Q earnings 10-23-12 AMC
RF Micro Devices to Webcast Quarterly Earnings Conference Call on October 23, 2012
Press Release: RF Micro Devices – Tue, Oct 9, 2012 8:00 AM EDT.. .
GREENSBORO, N.C., Oct. 9, 2012 (GLOBE NEWSWIRE) -- RF Micro Devices, Inc. (RFMD), a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies, will host a conference call to review fiscal 2013 second quarter financial results on Tuesday, October 23, 2012, at 5:00 p.m. (ET). The conference call will be webcast live on the Company's web site at http://www.rfmd.com (under "Investors").
A telephone playback of the conference call will be available approximately one hour after the call's completion and can be accessed by dialing 303-590-3030 and using the passcode 4567595. The playback will be available through the close of business October 30, 2012.
RFMD will distribute fiscal 2013 second quarter financial results at approximately 4:00 p.m. (ET) on Tuesday, October 23, 2012.
250,000 share sale @ $3.78 - pretty big single move.
Will Lazard calling RFMD "Neutral" be considered a good thing or a bad thing? Obviously a "Buy" rating would have been better...
Boy... that report did wonders for the stock!
Brean Murray starts RF Micro Devices with "BUY"!!!
Perhaps a sector issue regarding semiconductors?
why is the latest news sending the stock backwards?
Hello - back at ya, Mack. :)
Just wanted to say Hello!!! I'm still around just being quite in the background :)
Don't scare me like that. LOL
RFMD seems to be on quite a tear right now.... something happening that hasn't been announced yet? Up 26 points and still strong.
Apple halo getting brighter for chip makers
12:07 AM ET, 09/11/2012 - MarketWatch Databased News
SAN FRANCISCO (MarketWatch) -- Apple Inc. is expected to roll out its latest iPhone this week at a time when the company's so-called halo effect is becoming brighter for the semiconductor industry.
Apple has become an increasingly important customer for the companies that design and manufacture processors for a range of functions in electronic devices, including data storage, memory, power management, audio controls, radio and Wi-Fi transmission.
"New product launches out of Apple are becoming increasingly important to monitor, as we estimate the company consumes about 10% of worldwide semiconductor content in 2012, which is expected to grow in 2013," RBC Capital analyst Doug Freedman wrote in a note to clients on Monday.
Freedman estimated that the iPhone 5, which is what the new Apple smartphone is being referred to in the industry, will make up a little over 4% of total semiconductor shipments in the 2013. He said that could translates to $13.9 billion in annual chip sales into Apple's new smartphone.
Apple is already the world's top purchaser of semiconductor products, and "increasing its buying rate faster than other top firms," the industry research group IHS said in a July report. The company is expected to spend nearly $28 billion on chips this year, up 15% from 2011, according to IHS.
In a note, Craig Berger of FBR Capital said, "We expect the iPhone 5 to be a home run, driving large volumes to critical device suppliers," adding that 50 million to 52 million units could be built in the fourth quarter of 2012, "well ahead of street estimates."
That could translate to huge sales for Apple suppliers. But the company typically does not disclose suppliers for specific products, so analysts have been busy speculating on the potential winners in the upcoming launch, partly based on a tear-down analysis of previous products.
Qualcomm is expected to remain a key supplier as the provider of the iPhone's baseband chip, which serves as the device's modem.
There have been concerns of insufficient supply as Qualcomm shifts to a new process technology, but Berger of FBR Capital said he sees Apple getting the supply it needs as Qualcomm "prioritizes Apple over other handset makers."
Freedman of RBC Capital named other potential suppliers, including SanDisk Corp. and Toshiba for memory, Broadcom for connectivity, Texas Instruments for touch-screen drivers and Omnivision for image sensors.
Omnivision has sparked speculation on its possible role in the iPhone 5 after the company issued a strong forecast during its Aug. 31 earnings report.
"After having been excluded from supplying Apple its image sensor to the iPhone 4S , the company's strong October forecast looks to be evidence that it has retaken the socket for the iPhone 5, a feat that not many suppliers are able to accomplish once being displaced," Williams Financial analyst Cody Acree said in a note.
In fact, getting displaced from Apple's list can be painful for a company's stock. That's what happened to Audience Inc. , which saw its shares lose two-thirds of their value last Friday after the company disclosed that Apple was not using its voice-processing chip technology in the next iPhone.
On Monday, Needham analyst Vernon Essi speculated in a note that Cirrus Logic may be the "likely beneficiary" of the loss by Audience. Cirrus Logic shares have jumped 11% over the past month.
Analysts have also focused on RF Micro , a maker of radio frequency chips, as one of the potentially big winners in the coming iPhone rollout.
Edward Snyder of Charter Equity Research said he sees RF Micro scoring the largest percentage gain with the release of the iPhone. The company has "seen such a rapid ramp at Apple and has tripled its content to $1.05 from about 30 cents in the iPhone 4S," he wrote.
Acree also cited RF Micro, saying in a note, "We believe the company has a solid line-up of key marquee design wins that should provide strong growth in the December quarter, for both revenue and the firm's share price, Apple's iPhone 5 being at the top of this list."
Samsung Selects RFMD's PowerSmart(R) to Power Next-Generation GALAXY Note II
RFMD's Broad Product Portfolio Supporting Samsung Across All Product Tiers and Baseband Architectures
Press Release: RF Micro Devices – Wed, Sep 5, 2012 8:00 AM EDT.. .
http://finance.yahoo.com/news/samsung-selects-rfmds-powersmart-r-120000624.html
GREENSBORO, N.C., Sept. 5, 2012 (GLOBE NEWSWIRE) -- RF Micro Devices, Inc. (RFMD), a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies, announced today that it is enabling Samsung's next-generation GALAXY Note II with RFMD's PowerSmart(R) Power Platforms -- the industry's first and only converged multimode, multiband (MMMB) power amplifiers.
Bob Bruggeworth, president and CEO of RFMD, said, "We are delighted to support Samsung's next-generation GALAXY Note II as well as numerous other flagship devices in Samsung's exciting product family. With the ramp of the GALAXY Note II, RFMD extends our coverage of Samsung's product portfolio to include all tiers and segments. In the coming months, we look forward to the availability of additional devices and baseband architectures that expand our business with Samsung to include additional PAs, incremental switch-based content, and new high-performance WiFi front ends."
The Samsung GALAXY Note II features a 5.5" HD Super AMOLED screen, providing breathtaking visuals and crystal clear detail. Its 16:9 screen ratio ensures an immersive and enriched cinema-like video viewing experience, perfect for watching HD videos on-the-go. The GALAXY Note II also comes with a mighty 1.6GHz Quad-Core processor and HSPA Plus or 4G LTE connectivity to deliver easy multitasking, lightning-fast screen transitions, powerful browser performance, and minimal app load time. In addition, it has an 8 megapixel rear-facing camera and 1.9 megapixel front-facing camera with HD video recording capabilities. The Samsung GALAXY Note II is set to launch in October starting in major European, Asian, and Middle East markets.
RFMD enables Samsung with a broad range of 3G/4G front end solutions, including PowerSmart, RFMD's ultra-high efficiency 3G/4G power amplifiers, RFMD's high performance switches, and RFMD's advanced power management solutions. RFMD supports Samsung across all leading baseband architectures, and RFMD's broad product portfolio provides Samsung full coverage across all major product categories.
RFMD's PowerSmart power platforms deliver industry-leading integration, design flexibility, and customization, enabling smartphone manufacturers to rapidly deploy smartphone platforms across geographies and networks, regardless of mode or band specifications.
About RFMD
RF Micro Devices, Inc. (RFMD) is a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies. RFMD's products enable worldwide mobility, provide enhanced connectivity and support advanced functionality in the mobile device, wireless infrastructure, wireless local area network (WLAN or WiFi), cable television (CATV)/broadband, Smart Energy/advanced metering infrastructure (AMI), and aerospace and defense markets. RFMD is recognized for its diverse portfolio of semiconductor technologies and RF systems expertise and is a preferred supplier to the world's leading mobile device, customer premises and communications equipment providers.
RFMD(R) Commences LTE Shipments to Samsung
Today : Monday 13 August 2012
RF Micro Devices, Inc. (Nasdaq:RFMD), a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies, today announced it has begun production shipments of its ultra-high efficiency power amplifiers to Samsung in support of the highly anticipated next-generation Galaxy S3 4G LTE smartphone.
RFMD expects to supply the majority of the 3G and 4G power amplifiers in Samsung's highest volume smartphones this calendar year. RFMD already supports multiple feature phones, smartphones and tablets for Samsung with a broad range of products, including PowerSmart® power platforms, ultra-high efficiency power amplifiers, and other critical high-performance components. This most recent 4G LTE smartphone to be supported by RFMD features a dual core multi-mode 3G/LTE modem.
Eric Creviston, president of RFMD's Cellular Products Group, said, "These shipments of RFMD's ultra-high efficiency 3G/4G power amplifiers to Samsung underscore our strong design momentum in next-generation mobile devices and our early market share leadership in the rapidly growing LTE market. We currently forecast robust growth in LTE in calendar 2012, as LTE devices grow from approximately 20 million units in calendar 2011 to greater than 100 million units in calendar 2012."
RFMD's ultra-high efficiency 3G and 4G LTE PAs enable increased battery life in smartphones while reducing the thermal impact of advanced data-based applications, including web surfing, video calling and internet radio. The product family covers WCDMA bands 1, 2, 3, 4, 5, and 8, and LTE bands 3, 4, 7, 11, 13, 17, 20, and 21 — addressing the most common UMTS/HSPA+ and LTE frequency bands and band combinations.
RFMD supplies the industry's broadest portfolio of 3G and 4G LTE power amplifier solutions, ranging from single-mode/single-band components to complete multimode/multi-band front end reference designs. RFMD's 3G and 4G LTE product portfolio is aligned with the world's leading baseband chipset providers.
RF Micro workers split $1 million Powerball prize :)
(just a fun story)
The Business Journal by Amy Dominello Braun, Multimedia/Special Sections Editor
http://www.bizjournals.com/triad/news/2012/08/08/rf-micro-winners-split-1-million.html?ana=yfcpc
Date: Wednesday, August 8, 2012, 4:36pm EDT - Last Modified: Wednesday, August 8, 2012, 5:57pm EDT
A group of 20 RF Micro employees won $1 million in the Powerball.
Amy Dominello BraunMultimedia/Special Sections Editor- The Business JournalEmail | Twitter | Google | LinkedIn
Twenty RF Micro Devices Inc. employees had been playing $5 worth of lottery tickets on whatever game had the higher jackpot for more than a year when those bets finally paid off earlier this month.
On Saturday, the Powerball ticket of "The Lotto Twenty" at RF Micro matched all five white balls in the drawing, netting them $1 million, the N.C. Education Lottery announced.
The employees all work in manufacturing at the Greensboro company and each won $50,000. That amounts to checks for $34,000 after taxes were withheld.
By matching all five white balls but not the red Power Ball, the RF Micro (NASDAQ: RFMD) group beat odds of 1 in 5.2 million.
The winners each have different plans for their winnings, including paying bills, helping family, contributing to college funds and taking vacations.
“This is a group of good people,” said Tonya Scales, one of the winners. “I felt like we were blessed.”
Amy Dominello Braun manages Web content, social media and awards-based special sections for The Business Journal.
RF Micro Off 6%: FYQ1 Beats, Q2 View Weak.
By Tiernan Ray
http://blogs.barrons.com/techtraderdaily/2012/07/24/rf-micro-off-6-fyq1-beats-q2-view-weak/?mod=yahoobarrons
Shares of wireless chip maker RF Micro Devices (RFMD) are down 26 cents, or 6.2%, at $4.02 in late trading after the company this afternoon reported fiscal Q1 revenue and earnings per share that beat expectations but forecast this quarter’s results below consensus, citing slowing in business at some of its customers.
Revenue in the three months ended in June fell 5.4%, year over year, but rose 8% from Q4's level, to $202.7 million, yielding a penny per share in profit, excluding some costs.
Analysts on average had been expecting $201.9 million and a penny per share.
The company’s gross margin declined by 4.4 points, year over year, to 34.1%, though it rose 1.7 points from Q4's level.
CEO Bob Bruggeworth remarked that “while the macro economy and the timing of key customer smartphone programs is moderating our near-term outlook, RFMD is launching multiple incremental growth drivers in new segments, including antenna control solutions, WiFi front end modules, and GaN power devices, and we anticipate robust growth and market share gains in these segments as they continue to expand.”
Revenue is expected to be flat this quarter with last, but could be down as much as 5%, the company said. That is well below the current-quarter estimate for an increase to $221.9 million. The company sees profit in a range from zero to a penny per share, on an adjusted basis, versus the consensus for 4 cents profit.
CFO Dean Priddy said the company expects an expansion of gross margin this quarter and a “a return to sequential revenue growth” in the December quarter.
Regarding the outlook, the company said it reflected “moderating growth among certain customers.”
RFMD: Q1 Adj EPS 1c vs 8c Meets 1c Est
Tuesday , July 24, 2012 16:08ET
QUARTER RESULTS
RF Micro Devices Inc (RFMD) reported Q1 results ended June 2012. Q1 Revenues were $202.70M; -5.36% vs yr-ago; BEATING revenue consensus by +0.37%. Q1 EPS was (7c). Adjusted Q1 EPS was 1c; -87.50% vs yr-ago; MATCHING earnings consensus.
Q1 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $202.70M $214.19M -5.36% $201.95M +0.37%
---------- ------------ ------------ ---------- ------------ ----------
EPS: (7c) N/A N/A N/A N/A
Adj EPS: 1c 8c -87.50% 1c 0.00%
---------- ------------ ------------ ---------- ------------ ----------
RFMD® Delivers Diversified Revenue Growth and Margin Expansion
GREENSBORO, N.C., July 24, 2012 /PRNewswire/ --
Quarterly Highlights:
Quarterly Revenue Increases Approximately 8% Sequentially To $202.7 Million
GAAP Gross Margin Expands 160 Basis Points Sequentially To 31.7%, And Non-GAAP Gross Margin Expands 170 Basis Points Sequentially To 34.1%
GAAP Diluted EPS Is ($0.07), And Non-GAAP Diluted EPS Is $0.01
RFMD Outsources Manufacturing Of Wafer Starting Material
RF Micro Devices, Inc. (Nasdaq GS: RFMD), a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies, today reported financial results for the Company's fiscal 2013 first quarter, ended June 30, 2012.
RFMD's first quarter revenue increased sequentially approximately 8% to $202.7 million, versus $187.9 million in the prior quarter. The sequential increase in revenue reflected diversified sequential revenue growth in the Company's Cellular Products Group (CPG) and Multi-Market Products Group (MPG). CPG achieved robust sequential growth in sales of ultra-high efficiency 3G/4G PAs, 3G entry PAs, and switch and signal conditioning products. MPG grew sequentially across multiple diversified markets, led by high-performance WiFi front end modules and broadband GaN-based CATV products.
On a GAAP basis, gross margin expanded sequentially to 31.7%, quarterly operating loss was ($12.9) million, and quarterly net loss was ($19.1) million, or ($0.07) per diluted share. On a non-GAAP basis, gross margin expanded sequentially to 34.1%, quarterly operating income totaled $3.1 million, and quarterly net income was $1.9 million, or $0.01 per diluted share.
During the June quarter, RFMD generated approximately $15.6 million in cash flow from operations, and free cash flow was $6.6 million. RFMD repurchased approximately 1.9 million shares of common stock during the quarter and retired approximately $48 million principal amount of debt.
Strategic Highlights
CPG ramped volume production of multiple 3G/4G antenna control solutions in support of a leading manufacturer of smartphones
CPG commenced volume shipments of its second-generation ultra-high efficiency LTE PAs to a leading manufacturer of smartphones
CPG supported multiple smartphone OEMs with breakthrough RF semiconductor solutions containing all 2G/3G PA and switch content for the entire cellular RF front end
MPG captured a major 802.11ac WiFi reference design win with Broadcom for high performance WiFi front end modules
MPG expanded its portfolio of 802.11n and 802.11ac front end modules and commenced production in support of consumer premises equipment (CPE) and mobile applications
MPG's GaN Power Group added two major L/S Band radar customers
RFMD 1Q earnings 7-24-12 AMC
GREENSBORO, N.C., July 10, 2012 (GLOBE NEWSWIRE) -- RF Micro Devices, Inc. (RFMD), a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies, will host a conference call to review fiscal 2013 first quarter financial results on Tuesday, July 24, 2012, at 5:00 p.m. (ET). The conference call will be webcast live on the Company's web site at http://www.rfmd.com (under "Investors").
A telephone playback of the conference call will be available approximately one hour after the call's completion and can be accessed by dialing 303-590-3030 and using the passcode 4551801. The playback will be available through the close of business July 31, 2012.
That post was about the large increase on that day, I think?
That's June 5th. The rest of the chart obviously wasn't there back then, silly.
As a longterm thinker on RFMD.... I'm not worried. I'm Bored with RFMD, if anything.
ZZZZZZZZZZZZZZZzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
No worries, I haven't checked in on it since my last post. The marked won't stabilize tomorrow, many more possibilities are just up the horizon.
UPDATE: Canaccord Genuity Starts RF Micro Devices (RFMD) at Hold; Turning The Corner
http://www.streetinsider.com/New+Coverage/UPDATE%3A+Canaccord+Genuity+Starts+RF+Micro+Devices+%28RFMD%29+at+Hold%3B+Turning+The+Corner/7535460.html
Canaccord Genuity initiates coverage on RF Micro Devices (NASDAQ: RFMD) with a Hold. PT $4.50.
Analyst, T. Michael Walkley, said, "We believe RFMD’s business trends are starting to turn after a F2012 of declining revenue due to softer sales to Nokia (NYSE: NOK) combined with slowing 2G sales in China. With our expectation that the growing mix of 3G and 4G smartphones will drive strong growth for the RFIC TAM – combined with RFMD’s PowerSmart, Phenom, and switch and antenna solutions driving recovering share for the company – we believe RFMD is positioned to return to growth in F2013 and F2014. While we believe RFMD’s business trends are improving and we have a positive bias for longer-term investors, the current valuation leads us to initiate coverage with a HOLD."
RFMD Expands Wireless Product Portfolio With Highly Integrated Variable Gain Amplifier
http://www.streetinsider.com/Press+Releases/RFMD+Expands+Wireless+Product+Portfolio+With+Highly+Integrated+Variable+Gain+Amplifier/7529747.html
EPS Growth %: -125.0% MONTREAL, June 20, 2012 (GLOBE NEWSWIRE) -- RF Micro Devices, Inc. (Nasdaq: RFMD), a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies, today announced the release of the RFVA0016 – a highly integrated one-quarter watt (1/4W) analog-controlled variable gain amplifier (VGA).
RFMD's broadband RFVA0016 VGA features external matching to allow operation in all RF bands between 400 to 2700MHz with a single module. The RFVA0016 delivers 24dBm output compression power with 25dB gain and a temperature compensated 30dB gain range. Consuming only 185mA, the 1/4W VGA delivers an exceptional linear POUT/DC power ratio and is ideal for wireless infrastructure and general purpose RF applications.
John Pelose, general manager of RFMD's Wireless Products business unit, said, "The RFVA0016 integrates RFMD's broadband, temperature-compensated SOI attenuator with a high-linearity driver amplifier to offer an integrated broadband VGA solution for all cellular bands. This demonstrates RFMD's long-standing commitment to optimum technology matching® and our ability to deliver industry-leading performance by integrating multiple technologies into a single component."
This RFVA0016 VGA features a unique linear attenuation slope that can be reversed to a positive or a negative slope via a mode logic pin. The attenuation is controlled by a single 0-volt to 3.3-volt positive supply. The RFVA0016 is packaged in a small 5mm x 5mm, 32-pin laminate multi-chip module (MCM) and is QFN footprint-compatible.
RFMD is exhibiting the RFVA0016 at the IEEE International Microwave Symposium through June 22 in Booth 1210 at the Palais des congress convention center, in Montreal, Canada.
RFMD Expands GaN Matched Power Transistor Family Targeting Pulsed-Radar Applications
Today : Monday 18 June 2012
RF Micro Devices, Inc. (Nasdaq:RFMD), a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies, today announced the release of the RFHA1025, a highly-efficient 280-watt pulsed gallium nitride (GaN) RF matched power transistor. The RFHA1025 delivers superior performance versus competing silicon power technologies.
RFMD's RFHA1025 complements the recently released 380-watt RF3928B, the highest output power S-Band device in RFMD's matched power transistor family. RFMD is expanding its portfolio of GaN-based power amplifier transistor products across bands, increasing its leadership position in the radar market.
RFMD's GaN matched power transistors extend range, reduce size and weight, and improve overall ruggedness in new and existing radar architectures. The RFHA1025 operates over a broad frequency range (0.96-1.2GHz) and delivers 280-watt pulsed power, high gain >14dB, and high peak efficiency of >55%. Additionally, the RFHA1025 incorporates internal matching to simplify and shrink designers' circuits. Packaged in a hermetic, flanged ceramic package, the RFHA1025 leverages RFMD's advanced heat sink and power dissipation technologies, delivering excellent thermal stability and conductivity. RFMD's RF393x unmatched power transistors (UPT) can be used as drivers to the RFHA1025.
Jeff Shealy, general manager of RFMD's Power Broadband Business Unit, said, "RFMD is pleased to expand our GaN-based product portfolio, offering industry-leading power performance in support of diverse end markets. RFMD's GaN product portfolio demonstrates our commitment to technology and product leadership, and we look forward to introducing additional GaN devices in the near term that feature superior power density, high power efficiency, and rugged dependability."
RFMD is exhibiting its GaN power portfolio at the IEEE International Microwave Symposium through June 22, in Booth 1210 at the Palais des congress, in Montreal, Canada,
Availability
Samples and production quantities are available now through RFMD's online store or through local RFMD sales channels.
About RFMD
RF Micro Devices, Inc. (Nasdaq:RFMD) is a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies. RFMD's products enable worldwide mobility, provide enhanced connectivity and support advanced functionality in the mobile device, wireless infrastructure, wireless local area network (WLAN or WiFi), cable television (CATV)/broadband, Smart Energy/advanced metering infrastructure (AMI), and aerospace and defense markets. RFMD is recognized for its diverse portfolio of semiconductor technologies and RF systems expertise and is a preferred supplier to the world's leading mobile device, customer premises and communications equipment providers.
Headquartered in Greensboro, N.C., RFMD is an ISO 9001-, ISO 14001-, and ISO/TS 16949-certified manufacturer with worldwide engineering, design, sales and service facilities. RFMD is traded on the NASDAQ Global Select Market under the symbol RFMD. For more information, please visit RFMD's web site at www.rfmd.com.
RFMD(R) Announces Availability of Design Kits for Agilent Technologies' Advanced Design System 2011 Software
http://www.streetinsider.com/Press+Releases/RFMD%28R%29+Announces+Availability+of+Design+Kits+for+Agilent+Technologies%26apos%3B+Advanced+Design+System+2011+Software/7516881.html
Revenue Growth %: -11.9% GREENSBORO, N.C., June 14, 2012 (GLOBE NEWSWIRE) -- RF Micro Devices, Inc. (Nasdaq: RFMD), a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies, announced today that its Foundry Services business unit has updated its process design kits (PDKs) for use with Agilent Technologies' recently released Advanced Design System (ADS) 2011 EDA software. The enhanced PDKs are available immediately to current and prospective RFMD Foundry Services customers for RFMD's Gallium Nitride (GaN) and Gallium Arsenide (GaAs) process technologies.
The RFMD PDKs support a complete ADS front- to back-end MMIC design flow with scalable devices, a native design rule checker, and the layout capabilities in ADS 2011. The PDKs work seamlessly with ADS 2011, ADS 2009 Update 1 and ADS 2008 Update 2, enabling RFMD Foundry Services customers to take full advantage of the significant performance advantages of ADS 2011.
RFMD's GaN and GaAs process technologies are available to Foundry Services customers, supported by RFMD's industry-leading cycle times. RFMD's foundry offerings include GaN1 (GaN for high power), a 0.5-micron GaN on SiC process technology enabling 65V CW operation and optimized for maximum performance at 4 GHz and below. RFMD's GaN1 power technology provides a high breakdown voltage above 400V, while RFMD's GaN2 is a 0.5-micron GaN on SiC process technology offering high linearity for high performance communications systems. Both GaN technologies are manufactured in RFMD's Greensboro, NC, fab, one of the world's largest III-V fabs.
The Greensboro fab also manufactures HBT8D, RFMD's high-volume rugged InGap technology for handset and mixed signal applications, and IPC3, an integrated passive component technology that complements RFMD's GaN technology portfolio with high power compatibility.
Additional RFMD foundry offerings include FD25, a low noise, 0.25-micron GaAs pHEMT technology, and FD30, a high power 0.3-micron GaAs pHEMT technology, both of which support applications up through 25 GHz. RFMD's technology portfolio also includes FET1H, a 0.6-micron GaAs pHEMT technology, and FET2D, a 0.6-micron GaAs E/D pHEMT technology. Each of RFMD's pHEMT technologies is manufactured in the Company's Newton Aycliffe, UK, fab.
Dr. Tom Joseph, manager of technology in RFMD's Foundry Services business unit, said, "The ADS 2011 release provides RFMD Foundry customers access to Agilent's latest multi-technology platform for our GaN and GaAs process technologies. By leveraging Agilent's new Library architecture and simulation enhancements, RFMD's foundry customers can improve their design efficiencies and reduce time-to-market for their end market products."
"We are very happy that our mutual customers can now leverage the ADS 2011 product enhancements in RFMD's GaN and GaAs technologies," said Juergen Hartung, foundry program manager of Agilent's EEs of EDA organization. "With these PDKs, our customers can now enjoy the industry's most comprehensive multi-technology design platform using Momentum, the industry-leading 3-D planar EM simulator, our integrated full 3-D FEM engine, the industry-proven design-for-manufacturing capabilities inside ADS, and an upgraded design rule checker. These capabilities are just some of the reasons the majority of MMIC designers choose ADS to increase performance, consistency and yield."
For more information on RFMD's Foundry Services go to www.rfmd.com/foundry or contact RFMDFoundryServices@rfmd.com.
RFMD: Davenport Ups to Buy; Better Mix of Phone Customers.
By Tiernan Ray
http://blogs.barrons.com/techtraderdaily/2012/06/06/rfmd-davenport-ups-to-buy/?mod=yahoobarrons
Drake Johnstone of Davenport & Co., who’s had a Neutral rating on shares of wireless chip maker RF Micro Devices (RFMD) since November of 2010, this evening raised his rating on the stock to Buy, with a $6.50 price target, following what he views as a positive presentation this morning by RF’s chief financial officer, William Priddy, at the Stephens Inc. Spring Investment Conference at the Palace Hotel in New York, where he was introduced by Stephens analyst Harsh Kumar.
Priddy spent some time discussing the company’s announcement last night that it will give its “molecular beam epitaxy” technology for making some kinds of chips to a third party, IQE plc, a wafer supplier in the U.K.
Priddy emphasized today that the move will save the company money by reducing fixed costs to make its chips, even though it will still own chip-making facilities:
This has significant benefits to our shareholders [...] we will have the lowest cost starting material in the industry, both for MBE-based starting material and MOCVD-based starting material. Secondly, we have a joint research and development agreement, where we will have access to the world’s leading material scientists in developing new epistructures to drive future generations of advanced products for RFMD. Thirdly, we’re going from more of a fixed-cost model to a variable cost model.
Among other topics, Priddy also talked about how the rise of 4G-enabled smartphones should help the company to sell more bundles of power amplifiers and switches for handsets, thus increasing its share of the overall bill of materials of phones.
Writes Johnstone, the company has a good chance of seeing quarter-over-quarter revenue growth in each quarter of the current fiscal year ending in March of 2013.
He models the company making $905 million in revenue this year and 9 cents a share from a prior $892 million and 8 cents, which includes the expense of granting stock options. The Street is modeling $890 million and just 2 cents on a GAAP basis.
Johnstone sees the prospect revenue could rise by 18% next year, as RF chips find their way into some of Nokia‘s (NOK) Windows-based phones. But he also sees much less risk to RF, as the company’s customers concentration is not what it was even a year ago:
RFMD indicated that new smart phones powered by Intel (INTC) also incorporate RFMD’s PowerSmart solution. While Nokia represents significantly less than 10% of RFMD’s revenue in the current quarter (down from 50% in prior years), RFMD could benefit from new Nokia’s Windows based smart phones incorporating its PA solutions in late 2012. RFMD is a leading supplier of RF solutions to Chinese smart phone manufacturers, with 25% of its recent quarter revenue obtained from these manufacturers. The company generates one-half of its revenue in China from 2G solutions (stable revenue) and one-half from 3G solutions (significant revenue growth). China’s 3G cellular subscribers represent only 11% of its billion cell phone users. RFMD should benefit from its leading position in China and the tremendous growth in China’s 3G market over the next few years.
Johnstone also believes RF supplies Apple (AAPL) for the iPhone, noting that Priddy’s “reported that RFMD has contracts with every smart phone manufacturer, which implies that the company also has contracts with Apple (we believe that RFMD’s potential revenue per iPhone is less than a dollar).”
RFMD shares today rose 12 cents, or 3%, to $4.15.
RF Micro Devices and Skyworks Solutions on the Upswing as Semiconductor Industry Shows Signs of Improvement
http://finance.yahoo.com/news/rf-micro-devices-skyworks-solutions-122000044.html
NEW YORK, NY--(Marketwire -06/07/12)- After an impressive first quarter semiconductor stocks have slumped as a result of growing concerns of a global economic crisis. SPDR S&P Semiconductor ETF (XSD), which seeks to closely match the returns and characteristics of the S&P Semiconductor Select Industry Index, has fallen nearly 15 percent in the last 3 months.
The Semiconductor Industry Association (SIA) recently announced that global semiconductor sales for the month of April increased 3.4 percent to $24.1 billion. The growth was in April was the largest month-over-month increase since May 2010, and the first time sales topped $24 billion in 2012.
"The outlook for the global semiconductor industry continues to be one of cautious optimism," said Brian Toohey, president & CEO, Semiconductor Industry Association. "We are beginning to see an encouraging trend of modest, sequential growth and we anticipate this trend will continue during the rest of this year, with stronger growth predicted for 2013 and beyond. But that optimism continues to be tempered by macroeconomic factors."
RF Micro Devices is a global leader in the design and manufacture of high-performance semiconductor components. RFMD's products enable worldwide mobility, provide enhanced connectivity and support advanced functionality in the cellular handset, wireless infrastructure, wireless local area network (WLAN), CATV/broadband and aerospace and defense markets.
Skyworks Solutions, an innovator of high-reliability analog semiconductors enabling a broad range of end markets has commenced volume production of several high performance RF solutions supporting Broadcom 5G WiFi (IEEE 802.11ac) chips -- including minicards for access points, routers and customer premise equipment.
RF Micro Devices(R) to Outsource Manufacturing of Wafer Starting Material
Company to Transfer Epitaxial Wafer Growth Facility to IQE to Drive Industry's Lowest Manufacturing Costs
http://finance.yahoo.com/news/rf-micro-devices-r-outsource-203000615.html
GREENSBORO, N.C., June 5, 2012 (GLOBE NEWSWIRE) -- RF Micro Devices, Inc. (Nasdaq:RFMD - News), a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies, today announced it has entered into a definitive agreement to transfer its molecular beam epitaxy (MBE) wafer growth facility to IQE plc., a leading global supplier of advanced semiconductor wafers. RFMD's MBE growth facility supplies MBE wafer starting material to RFMD's wafer manufacturing facilities, which RFMD will continue to own and operate in Greensboro, NC, and Newton Aycliffe, UK.
RFMD's GaAs semiconductor products incorporate transistor layers grown on either an MBE or metal organic chemical vapor deposition (MOCVD) process. RFMD outsources all MOCVD-based starting material, and RFMD will outsource MBE-based starting material with the completion of the transfer. In conjunction with the transfer, RFMD and IQE have entered into a supply agreement under which IQE will supply RFMD MBE- and MOCVD-based starting material. The transfer and supply agreement will lower RFMD's manufacturing costs, beginning in the September 2012 quarter. In the June 2012 quarter, RFMD currently estimates the transaction will result in a non-cash GAAP charge of approximately $0.02 to $0.03 related to equipment and inventory write-offs and will be approximately neutral to non-GAAP operating results.
Bob Bruggeworth, president and CEO of RFMD, stated, "We believe this is a mutually beneficial transaction for both RFMD and IQE. Of note, we expect this transaction will provide RFMD with lower MBE and MOCVD pricing, higher return on invested capital (ROIC), and more predictable operating results."
Why RF Micro Devices Shares Popped
By Sean Williams | More Articles
June 5, 2012 | Comments (1)
http://www.fool.com/investing/general/2012/06/05/why-rf-micro-devices-shares-popped.aspx
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of radio frequency component maker RF Micro Devices (Nasdaq: RFMD ) rallied as much as 15% today after receiving an analyst upgrade.
So what: Research firm Avian upgraded RF Micro Devices this morning to "positive" from the "neutral" rating it bestowed upon the stock in February. This has actually been a very analyst-heavy past few weeks for RF Micro. Research firm Cantor maintained its "buy" rating late last week on the company, stating that the selling was likely overdone and that the company is improving its position with Qualcomm (Nasdaq: QCOM ) and Samsung. Just over two weeks ago, Stephens initiated RF Micro with a "buy" rating.
Now what: As always, I'd like to remind everyone that analyst upgrades and downgrades are short-term events that should be taken with a grain of salt. Chances are that your investment thesis on RF Micro Devices yesterday hasn't changed today because of the upgrade. Personally, I'd like to see RF Micro turning a stronger profit, and I'll sit on the sidelines until I see that happen.
RF Micro Devices sell-off overdone, says Cantor
Theflyonthewall.com – Fri, Jun 1, 2012 7:20 AM EDT.. .
After RF Micro's stock tumbled 33% following the results of its March quarter, Cantor expects the company to generate good growth and higher margins during the rest of its fiscal year. The firm believes that the company is improving its position with Qualcomm (QCOM) and Samsung, and it maintains a Buy rating on RF Micro.
Avian Securities Upgrades RF Micro Devices (RFMD) to Positive
10:03 am ET 06/05/2012 - Street Insider
Avian Securities upgraded RF Micro Devices (NASDAQ: RFMD) from Neutral to Positive.
Stephens Starts RF Micro Devices (RFMD) at Overweight
Stephens initiates coverage on RF Micro Devices (NASDAQ: RFMD) with an Overweight. PT $6.00.
http://www.streetinsider.com/New+Coverage/Stephens+Starts+RF+Micro+Devices+%28RFMD%29+at+Overweight/7468637.html
I haven't added since March.
I have been ignoring it.
Well it's going downhill since late last year and ever since we had new highs. Are you still buying these "cheap" shares?
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RF Micro Devices, Inc. (Nasdaq:RFMD) is a global leader in the design and manufacture of high-performance radio frequency
components and compound semiconductor technologies. RFMD's products enable worldwide mobility, provide enhanced connectivity
and support advanced functionality in the cellular handset, wireless infrastructure, wireless local area network (WLAN), CATV/broadband
and aerospace and defense markets. RFMD is recognized for its diverse portfolio of semiconductor technologies and RF systems expertise
and is a preferred supplier to the world's leading mobile device, customer premises and communications equipment providers.
Headquartered in Greensboro, N.C., RFMD is an ISO 9001- and ISO 14001-certified manufacturer with worldwide engineering, design, sales
and service facilities.
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