TQNT ($22-$20.50) P/E 24...reports June quarter earnings of $0.03 per share, in line with consensus ests; reports revs for the quarter of $60.7 mln vs. consensus est of $60.4 mln; SAWS misses by 1 penny.
Thursday July 19, 5:33 pm Eastern Time
TriQuint, Sawtek post lower Q2 earnings
HILLSBORO, Ore., July 19 (Reuters) - Communications chip maker TriQuint Semiconductor, Inc. (NasdaqNM:TQNT - news) and its newly- merged subsidiary Sawtek Inc.(NasdaqNM:SAWS - news) Thursday reported lower second-quarter earnings compared with a year earlier, blaming a slowdown in the wireless industry.
TriQuint said net income for the quarter ended June was $2.3 million, or 3 cents per diluted share, compared with $16.4 million, or 19 cents per diluted share a year ago. Revenues fell to $60.7 million from $70.6 million.
Sawtek, whose merger which TriQuint was approved by shareholders earlier Thursday, reported net income for the June quarter of $2.4 million, or 6 cents per share, compared with $14.9 million, or 34 cents per share in the prior year. Its revenues fell to $18.8 million from $44.1 million for the same period a year ago.
Hillsboro, Oregon-based TriQuint and Sawtek said the expected their merger to help them develop new products, which will position them well to benefit from a subsequent recovery in the wireless and communications industries. Combined pro-forma net income was $4.7 million, or 3 cents per share, excluding merger-related charges.
Pro-former revenues for the quarter were $79.5 million. |
