RF Micro Devices Announces December Quarterly Results

RFMD Generates Approximately $279 Million In Revenue And $54 Million In Free Cash Flow

(PRNewswire) —

Company Highlights: 

  • Quarterly Revenue Increases Approximately 11% Year-Over-Year To Approximately $279 Million
  • GAAP Operating Income Is $43.3 Million, And GAAP Diluted EPS Is $0.13
  • Non-GAAP Operating Income Equals $54.0 Million, Or 19.4% Of Revenue
  • Non-GAAP Diluted EPS Equals $0.19
  • RFMD Generates  Approximately $54 Million In Quarterly Free Cash Flow
  • RFMD’s Board Of Directors Authorizes 2-Year, $200 Million Share Repurchase Plan

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 its fiscal 2011 third quarter, ended January 1, 2011.

RFMD’s quarterly revenue increased approximately 11% year-over-year and decreased approximately 2% sequentially to $278.8 million.  On a GAAP basis, gross margin equaled 37.0%, quarterly operating income totaled $43.3 million, and quarterly net income was $36.7 million, or $0.13 per diluted share.  On a non-GAAP basis, gross margin equaled 38.7%, quarterly operating income totaled $54.0 million, and quarterly net income was $52.6 million, or $0.19 per diluted share. During the quarter, RFMD generated $54.2 million in free cash flow.

RFMD Strategic Highlights:

  • RFMD’s Multi-Market Products Group (MPG) enjoyed strong underlying demand in its end markets, and each MPG business unit grew sequentially, led by wireless infrastructure, Smart Energy, WiFi for 3G/4G smartphones and tablets, defense, and high-power gallium nitride (GaN) applications
  • RFMD’s Cellular Products Group (CPG) saw accelerating design activity for 3G/4G smartphones across its PowerSmart™ power platforms, high-performance switch-based products, and recently launched family of industry-leading, high-efficiency single-mode power amplifiers (PAs)
  • RFMD supported the launch of a highly anticipated flagship 3G/4G smartphone and tablet product family featuring RFMD’s PowerSmart and WiFi components
  • MPG commenced volume production of GaN products for applications in high-power military radar and CATV
  • RFMD continued to diversify its customers and markets in the December quarter

GAAP RESULTS

(in millions, except percentages and per share data)



Q3 Fiscal
2011



Q2 Fiscal
2011



Change
vs. Q2
2011




Q3 Fiscal
2010



Change
vs. Q3
2010


Revenue


$

278.8


$

285.8



-2.4%



$

250.3



11.4%


Gross Margin



37.0%



38.0%



(1.0)

ppt



36.4%



0.6

ppt

Operating Income


$

43.3


$

42.4


$

0.9



$

33.6


$

9.7


Net Income


$

36.7


$

35.4


$

1.3



$

24.9


$

11.8


Diluted EPS


$

0.13


$

0.13


$

0.0



$

0.09


$

0.04






















NON-GAAP RESULTS (excluding share-based compensation, amortization of intangibles, integration charges, start-up costs, loss on retirement of convertible subordinated notes, restructuring charges, loss on PP&E, income from equity investment, non-cash interest expense on convertible subordinated notes and tax adjustments)

(in millions, except percentages and per share data)



Q3 Fiscal
2011



Q2 Fiscal
2011



Change
vs. Q2
2011




Q3 Fiscal
2010



Change
vs. Q3
2010


Gross Margin



38.7%



39.8%



(1.1)

ppt



38.4%



0.3

ppt

Operating Income


$

54.0


$

57.1


$

-3.1



$

44.6


$

9.4


Net Income


$

52.6


$

52.3


$

0.3



$

38.8


$

13.8


Diluted EPS


$

0.19


$

0.19


$

0.0



$

0.14


$

0.05























1 | 2 | 3 | 4 | 5  Next Page »



Review Article Be the first to review this article
Aldec

Featured Video
Jobs
Principle Electronic Design Engr for Cypress Semiconductor at San Jose, California
Senior Electrical Engineer for Allen & Shariff Corporation at Pittsburgh, Pennsylvania
Director, Business Development for Kongsberg Geospatial at Ottawa, Canada
Director, Business Development for Kongsberg Geospatial at remote from home, Any State in the USA
Upcoming Events
IPC Technical Education - PCB Layout - Place and Route at Del Mar Fairgrounds 2260 Jimmy Durante Blvd. Del Mar CA - May 2, 2018
IPC Technical Education at Wisconsin Center 400 W Wisconsin Ave. Milwaukee WI - May 8, 2018
IPC High Reliability Forum at Embassy Suites: Baltimore-At BWI Airport 1300 Concourse Drive Linthicum MD - May 15 - 17, 2018
TrueCircuits: IoTPLL
DAC2018



Internet Business Systems © 2018 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise