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RF Micro Devices Reiterates First Quarter 2006 Financial Guidance at JP Morgan Technology Conference
19 May 2005
In conjunction with the previously announced presentation today by RF Micro Devices, Inc. (NASDAQ: RFMD - News) at the 33rd Annual JP Morgan Technology Conference, the Company reiterated financial guidance that it previously provided on April 26, 2005 for its fiscal 2006 first quarter ending June 30, 2005.
The Company currently anticipates 2006 first quarter revenue in the mid-$150 million range and expects that gross margins in the 2006 first quarter will increase sequentially. The Company also currently expects quarterly GAAP net loss to be in the range of ($0.03) to ($0.04) per share and quarterly pro forma net loss to be in the range of ($0.02) to ($0.03) per share.
At the JP Morgan Conference, the Company indicated that its cellular business unit, which includes power amplifiers (PAs) and transceivers for handsets, is currently expected to post sequential growth over the prior quarter ended March 31, 2005, with first quarter 2006 order rates currently tracking ahead of the fiscal 2005 first quarter, ended June 30, 2004. Additionally, the Company stated that all major air interface standards within its PA business are poised for growth with GSM/GPRS, EDGE, CDMA and Wideband CDMA all booked for sequential growth. Finally, the Company also indicated its EDGE transceiver shipments had surpassed five million chipsets to date and it continues to expect total shipments for the June 2005 quarter to exceed two million chipsets.
RF Micro Devices, Inc., an ISO 9001- and ISO 14001-certified manufacturer, designs, develops, manufactures and markets proprietary radio frequency integrated circuits (RFICs) for wireless communications products and applications. The Company is a leading supplier of power amplifiers, one of the most critical radio frequency (RF) components in cellular phones. The Company is also the leading manufacturer of GaAs HBT, which offers distinct advantages over other technologies for the manufacture of current- and next-generation power amplifiers. The Company's products are included primarily in cellular phones, base stations, wireless local area networks (WLANs), cable television modems and global positioning systems (GPS). The Company derives revenue from the sale of standard and custom-designed products. The Company offers a broad array of products including amplifiers, mixers, modulators/demodulators and single-chip transmitters, Bluetooth® products and receivers and transceivers that represent a substantial majority of the RFICs required in wireless subscriber equipment. The Company's goal is to be the premier supplier of low-cost, high-performance integrated circuits and solutions for applications that enable wireless connectivity. RF Micro Devices, Inc. is traded on the Nasdaq National Market under the symbol RFMD. For more information about RFMD, please visit www.rfmd.com.
This press release contains forward-looking statements that relate to RF Micro Devices' plans, objectives, estimates and goals. Words such as "expects," "anticipates," "intends," "plans," "projects," "believes" and "estimates," and variations of these words and similar expressions, identify these forward-looking statements. RF Micro Devices' business is subject to numerous risks and uncertainties, including variability in quarterly operating results, the rate of growth and development of wireless markets, risks associated with the operation of wafer fabrication, molecular beam epitaxy and other foreign and domestic manufacturing facilities, our ability to attract and retain skilled personnel and develop leaders, variability in production yields, our ability to reduce costs and improve gross margins by implementing innovative technologies, our ability to bring new products to market, our ability to adjust production capacity in a timely fashion in response to changes in demand for our products, dependence on a limited number of customers and dependence on third parties. These and other risks and uncertainties, which are described in more detail in RF Micro Devices' most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements.
RF MICRO DEVICES® and RFMD® are trademarks of RFMD, LLC. Bluetooth is a registered trademark of Bluetooth SIG Inc., USA and licensed for use by RF Micro Devices, Inc.
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Contact:
RF Micro Devices, Inc.
Doug DeLieto, 336-664-1233
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Source: RF Micro Devices, Inc.
Source: Business Wire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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