RFMD makes its 3Q numbers, but 4Q guidance disappointing. Glad I'm hedged a bit:
>>GREENSBORO, N.C., Jan 15 (Reuters) - RF Micro Devices Inc. (NasdaqNM:RFMD - news), which makes circuits for mobile telephones and other wireless systems, on Tuesday posted lower fiscal third-quarter profits because of the slowdown in customer spending, and forecast fourth-quarter earnings below Wall Street estimates.
The Greensboro, North Carolina-based company said its net income fell to $3.5 million, or 2 cents a diluted share, from $7.8 million, or 5 cents a diluted share, in the same period last year.
Analysts had expected RF Micro to earn 2 cents a share, with a range of 1 cent to 3 cents, according to industry tracker Thomson Financial/First Call.
Revenues for the quarter ending Dec. 31, 2001, rose 25.8 percent to $100.6 million from $79.9 million last year, and increased from $98.3 million in the previous quarter.
The company also said it expects to earn 1 cent a share in the fourth quarter ending March 31 on revenues of $90 million to $95 million. Analysts were expecting earnings per share in the quarter of 4 cents, with a range of 1 cent to 8 cents, according to First Call.<<
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Cheers, Tuck |
