RF Micro Devices, Inc. (RFMD)

[eastunder]

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