Product category:
Communications ICs (Wireless)
News Release from: RF Micro Devices
Edited by the Electronicstalk Editorial
Team on 26 April 2007
Handset makers drive growth for RFMD
RF Micro Devices has reported financial results for its fiscal 2007 fourth quarter ended 31st March 2007.
RF Micro Devices has reported financial results for its fiscal 2007 fourth quarter ended 31st March 2007 Quarterly revenue grew approximately 13.9% year-over-year and declined approximately 8.5% sequentially to US $257.3 million
This article was originally published on Electronicstalk on 25 Apr 2003 at 8.00am (UK)
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Operating income totalled $21.4 million, on a GAAP basis, and $25.7 million, on a nonGAAP basis.
RFMD's March 2007 quarterly results reflected unit volume strength at the world's leading handset manufacturers.
The company expects strong overall unit demand for cellular handsets and believes handset market share continues to be consolidated by its largest customers.
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President and CEO Bob Bruggeworth said: "RF Micro Devices is winning opportunities to grow its dollar content in mobile devices as they increase in complexity and require additional high-performance RF content".
"Our investments in transceivers, pHEMT switches, filters, DC/DC convertors, integrated shielding, MEMS switches, module assembly, wafer manufacturing and systems-level expertise have positioned our company to help our customers - and our channel partners alike - to eliminate complexity, improve performance, reduce costs and speed time to market".
"We are winning follow-on business with our lead Polaris RF solution customer, and we expect our revenue with this customer will return to growth in the September quarter".
"Additionally, our Polaris 3 RF solution is on track to ramp in the second half of calendar 2007, which will expand our Polaris RF solution customer base to include an additional top-tier handset manufacturer".
"Beyond our core cellular market, we expect high margin, diversified revenue growth in fiscal 2008, driven by sales of our GaN devices, wireless LAN front ends, GPS solutions and multimarket products".
"RFMD is aggressively investing in opportunities for diversified growth and evaluating strategic options to bolster revenue and earnings contribution".
"We expect modest growth through calendar year 2007 and an acceleration of growth beginning in calendar year 2008, as our world-class RF solutions ramp at cellular and noncellular customers".
CFO and Vice President, Finance and Administration Dean Priddy added: "In the June quarter, we expect that a significant volume reduction at our lead Polaris RF solution customer will impact our financial results".
"We expect the impact to be temporary, however, and our investment plans remain unchanged".
"New multi-year platform opportunities have been won at our lead Polaris RF solution customer, and we remain on track to transition another top-tier customer into a higher dollar content status in the second half of calendar 2007".
"RFMD's balance sheet was enhanced by the company's strong performance in fiscal 2007 and by our recently completed $375 million convertible note offering".
"We believe our healthy balance sheet gives RFMD a strategic edge to both streamline the supply chain in our cellular business and jumpstart our diversification efforts".
"Both of these opportunities are sharply focused on long term margin and earnings accretion".
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