Replies to post #1568 on RF Micro Devices, Inc. (RFMD)

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7/23 RF Micro Devices® Grows 45% Year-Over-Year, Delivers Record Revenue Of $293.0 Million

Tuesday , July 23, 2013 16:00ET

http://www.knobias.com/story.htm?eid=3.1.e963f841ad00d2042565b1861ff634f1d8f254382c0d8ece93ffe32bfbe23125


GREENSBORO, N.C., July 23, 2013 /PRNewswire/ --

Quarterly Highlights:
-- Revenue Increases Approximately $90.3 Million Year-Over-Year To $293.0
Million
-- On A GAAP Basis, Gross Margin Is 31.9% And GAAP Diluted EPS Is $0.01,
Versus $(0.07) In Q1 Fiscal 2013
-- On A Non-GAAP Basis, Gross Margin Is 35.1% And Diluted EPS Is $0.09,
Versus $0.01 In Q1 Fiscal 2013
-- RFMD Anticipates Revenue Of Approximately $305 Million To $310 Million
And Non-GAAP EPS Of Approximately $0.10 To $0.11 In The September 2013
Quarter


RF Micro Devices, Inc. (Nasdaq GS: RFMD), a global leader in the design and manufacture of high-performance radio frequency solutions, today reported financial results for the Company's fiscal 2014 first quarter, ended June 29, 2013.

Quarterly revenue increased approximately 4.4% sequentially and 45% year-over-year to a record $293.0 million, compared to $280.6 million in the prior quarter and $202.7 million in the corresponding period of fiscal 2013. The sequential and year-over-year increases in revenue reflected broad-based adoption of RFMD's best-in-class RF solutions.

GAAP gross margin for the June 2013 quarter was 31.9%, quarterly operating income was $3.2 million, and quarterly net income was $1.6 million, or $0.01 per share.

On a non-GAAP basis, gross margin expanded by 70 basis points sequentially and 100 basis points year-over-year to 35.1%, quarterly operating income totaled $28.0 million, and quarterly net income was $25.6 million, or $0.09 per diluted share.

Strategic Highlights
-- RFMD's Cellular Products Group (CPG) achieved highly-diversified,
year-over-year revenue growth of 56%, led by nearly every major
manufacturer of smartphones, tablets, and handsets, across all tiers and
air standards
-- CPG benefited in the entry smartphone segment from participation on
major reference designs and expanding customer engagements at Lenovo,
Coolpad, Skycom, WaterWorld, and others
-- CPG enjoyed increasing industry adoption of its envelope tracking and
antenna control solutions
-- CPG's leading carrier aggregation switch portfolio was selected to
enable the world's first LTE-Advanced handset
-- RFMD's Multi-Market Products Group (MPG) delivered broad-based
sequential revenue growth across multiple markets, including WiFi, Power
Broadband, and Hi-Rel applications
-- Year-over-year, MPG achieved 10.4% growth, with high-performance WiFi
growing 77%, led by expanding participation on leading consumer premises
equipment platforms