RFMD ( $19-$22-$18) PE=n/a Cap=$3Bil beats Street, shares rise
By Barbara C. Costanza, CBS.MarketWatch.com
Last Update: 10:29 AM ET April 17, 2002
GREENSBORO, N.C., (CBS.MW) -- RF Micro Devices reported better-than-expected fourth quarter earnings, sending shares higher by 5.4 percent Wednesday morning.
The radio frequency integrated circuits manufacturer (RFMD: news, chart, profile) reported fourth-quarter earnings of $2.8 million, or 2 cents a share, a penny ahead of the consensus estimate. In the year-ago period, the company lost $6.8 million, or 4 cents a share.
Revenue for the quarter totaled $100.4 million, exceeding the company's prior forecast of between $90 million and $95 million and analysts estimates of $91.6 million. Last year, fourth-quarter revenue totaled $55 million.
For the first quarter of 2003, the company expects earnings of between 2 cents and 3 cents with revenue coming between $107 million and $110 million. Analysts currently expect a per-share profit of 2 cents with revenue of $100.9 million.
Shares traded up $1.09 to $21.32. |
