Triquint Semiconductor Inc fka TQNT

[eastunder]

UPDATE 1-TriQuint Q3 beats Street, sees strong Q46:15 pm ET 10/27/2010- Reuters
* Q3 adj EPS $0.27 vs $0.26 est

* Q3 rev $237 mln vs $236 mln est

* Sees Q4 adj EPS $0.26-$0.28 vs est $0.26

* Sees Q4 rev $245-$255 mln vs est $243.3 mln

Oct 27 (Reuters) - Wireless communications products supplier TriQuint Semiconductor Inc <TQNT.O> posted modestly better-than-expected third-quarter results, helped by strong demand for its microprocessors at its mobile devices business, and forecast a strong fourth quarter.

The company, which makes integrated circuits used in aerospace, automotive, radar, cable TV, and supplies equipment to the latest version of Apple's <AAPL.O> iPhone, expects robust increase in demand to lead to revenue growth of about 20 percent in 2011.

TriQuint, which competes with Skyworks Solutions Inc <SWKS.O> and RF Micro Devices Inc <RFMD.O>, forecast fourth-quarter adjusted earnings of 26-28 cents a share, on revenue of $245-$255 million.

Analysts were looking for earnings of 26 cents a share, before items, on revenue of $243.3 million, according to Thomson Reuters I/B/E/S.

For the third quarter, TriQuint posted net income of $110.9 million, or 68 cents a share, compared with earnings of $10.5 million, or 7 cents a share, a year ago. Third-quarter income includes a tax benefit of $72.1 million.

Revenue rose 37 percent to $237 million, above analysts' expectations of $236 million. Revenue at its mobile devices business grew 37 percent.

Shares of the Hillsboro, Oregon-based TriQuint were down modestly at $10.25, in heavy volume trade after market. They closed at $10.29 Wednesday on Nasdaq.

Shares of the company have risen 5 percent since Oct. 8, when the company raised its third-quarter forecast. (Reporting by Sayantani Ghosh in Bangalore; Editing by Roshni Menon)
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