Qorvo® Reports Fiscal 2016 Third Quarter Results


   SELECTED NON-GAAP RESULTS1 
     (Unaudited)   
  (In millions, except for percentages and EPS) 
   Qorvo  Qorvo   
   For the quarter
ended January 2,
2016
  For the quarter
ended October 3,
2015
  Change vs. Q2
FY 2016
 
Revenue$       619.7 $       707.4 $        (87.7) 
Gross profit$296.7 $351.6 $(54.9) 
Gross margin 47.9% 49.7% -1.8    ppt
Operating expenses$139.8 $156.8 $(17.0) 
Operating income$156.9 $194.8 $(37.9) 
Net income$148.0 $183.3 $(35.3) 
Weighted average diluted shares 144.1  150.8  (6.7) 
Diluted EPS$1.03 $1.22 $(0.19) 


   SELECTED GAAP RESULTS
     (Unaudited)  
  (In millions, except for percentages and EPS)
   Qorvo  RFMD  TriQuint
   For the quarter
ended January 2,
2016
  For the quarter
ended December 27,
2014
  For the quarter
ended December 31,
2014
Revenue$       620.7 $       397.1 $         344.9 
Gross profit$231.0 $190.7 $161.3 
Gross margin 37.2% 48.0% 46.8%
Operating expenses$244.2 $87.1 $85.0 
Operating (loss) income$(13.2)$103.6 $76.3 
Net (loss) income$(11.1)$87.9 $61.6 
Weighted average diluted shares before conversion N/A       297.8  188.4 
Conversion rate  2  N/A         0.25     0.4187  
Adjusted weighted average diluted shares   139.3     74.5     78.9  
Diluted EPS after conversion $ (0.08 ) $ 1.18   $ 0.78  

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