Celeritek(CLTK)- earnings up 1300% Message Board

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Technology Stocks : Celeritek(CLTK)- earnings up 1300%

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To: Richard H. who wrote (168)	4/9/1998 6:33:00 PM
From: Richard H.	of 212

Triquint Semi sees Q1 below forecasts HILLSBORO, Ore., April 9 (Reuters) - Triquint Semiconductor Inc. Thursday said it will report first quarter revenues and earnings below analysts' estimates due to a legal settlement, manufacturing problems and charges for an acquisition. Analysts had forecast earnings of $0.10 a share for the maker of integrated circuits. In a statement, Triquint said it encountered ''unexpected difficulties'' when moving production from an old wafer facility in Beaverton, Ore., to its new location in Hillsboro. That move caused revenue to fall 4 percent below expectations and led to an operating loss of about $2.0 million. Triquint Chief Executive Officer Steven Sharp, said the manufacturing problems ''appear to be one-time events...which are now behind us.'' In addition, Triquint said it had reached an agreement to settle a class action lawsuit filed against the company in 1994. Triquint's portion of the settlement, after insurance, is $1.5 million. Finally, the company said one-time charges from its acquisition of the MMIC business of Raytheon TI Systems will affect first quarter earnings.

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