DJ RF Micro/Outlook -2: 4Q Street Net View 2c/Shr >RFMD
GREENSBORO, N.C. (Dow Jones)--RF Micro Devices Inc. (RFMD) expects to report
a fourth quarter loss of 3 cents to 4 cents a share, well below a First
Call/Thomson Financial estimate for earnings of 2 cents a share from a
survey of 12 analysts.
In a press release Thursday, the company said it expects revenue for the
quarter ending March 31 of about $55 million, lower than previous revenue
guidance of about $72 million.
The lower guidance includes the earnings impact of inventory reserves, which
are expected to represent a loss of about 2 cents to 3 cents a share.
The lower expectations are due to continued weakness in certain wireless
markets, handset inventory overhang and delays of new handset models, which
have forced push-outs of customer orders.
The costs associated with the initial ramp-up of multi-chip module products
also hurt the company's expectations.
Shares of RF Micro were halted for news late Thursday, last trading at
$13.38, down 56 cents or 4%, on Nasdaq volume of 1,950,000 shares, compared
with daily average volume of 5,645,038 shares.
(MORE) DOW JONES NEWS 03-08-01
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