RF Micro Devices Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 29, 2012; Provides Earnings Guidance for the Fourth Quarter Ending March 2013
January 22, 2013 at 04:00 pm
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RF Micro Devices Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended December 29, 2012. For the quarter, the company reported income from operations of $5,680,000, income before taxes of $4,507,000 and net loss of $1,443,000 or $0.01 per diluted share on revenue of $271,213,000 compared to loss from operations of $2,184,000, loss before taxes of $4,268,000 and net loss of $9,393,000 or $0.03 per diluted share on revenue of $225,425,000 a year ago period. Non-GAAP operating income was $26,774,000 against $8,828,000 a year ago period. Non-GAAP net income was $21,280,000 or $0.08 per diluted share against $5,085,000 or $0.02 per diluted share a year ago period. Free cash flow was $29.6 million. Cash flow from operations was strong at $43.3 million. Free cash flow was approximately $30 million. Capital expenditures were $13.7 million.
For the nine months, the company reported loss from operations of $17,337,000, loss before taxes of $24,962,000 and net loss of $37,038,000 or $0.13 per diluted share on revenue of $683,544,000 compared to income from operations of $35,690,000, income before taxes of $27,677,000 and net income of $13,848,000 or $0.05 per diluted share on revenue of $683,427,000 a year ago period.
The company provided earnings guidance for the fourth quarter ending March 2013. The company expects quarterly revenue to decrease approximately 6-8% sequentially to approximately $250 million to $255 million, non-GAAP tax rate of approximately 22% and non-GAAP EPS of approximately $0.04 to $0.05.
Qorvo, Inc. specializes in the design, production and marketing of radio-frequency components and solutions. In particular, the group makes power amplifiers, embedded modules, selector switches, duplexers, power management devices, wireless connection solutions, frequency convertors, oscillators, couplers and optical components.
Net sales break down by activity as follows:
- mobile terminals and electronic devices (76.3%);
- defense and aeronautics equipment, network infrastructures (23.7%).
At the end of March 2022, the group had 7 production sites located in the United States (3), China (2), Costa Rica and Germany.
Net sales break down geographically as follows: the United States (41.5%), China (32.3%), Taiwan (7.4%), Asia (13.4%) and Europe (5.4%).
RF Micro Devices Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 29, 2012; Provides Earnings Guidance for the Fourth Quarter Ending March 2013