RF Micro Devices/Outlook: Cites Product Mix, Cost Cuts
Monday September 8, 9:26 am ET
GREENSBORO, N.C. -(Dow Jones)- RF Micro Devices Inc. (NasdaqNM:RFMD - News) , citing robust customer activity, improving product mix and cost-cutting activities, expects fiscal second-quarter revenue, gross margin and earnings to exceed its prior guidance provided in July.
In a press release Monday, the maker of radio frequency integrated circuits primarily for wireless communications products said it currently anticipates net income to be at or slightly above break-even. It also has backlog to support a double-digit percentage increase in second-quarter revenue from the prior quarter.
On July 15, the company forecast a loss of 4 cents to 5 cents a share for the second quarter ending Sept. 30, with flat revenue in the low $130-million range.
Thomson First Call (News - Websites) currently projects a loss of 3 cents a share for the second quarter, on revenue of $135.8 million.
In the year-ago second quarter, the company earned 4 cents a share, on revenue of $119.7 million.
RF Micro currently expects its gross margin to improve at least 300 basis points in the quarter, compared to the 100 basis-point improvement forecast in July, and it's "increasingly confident" about returning to profitability.
Additionally, RF Micro will provide third-quarter guidance when it announces second-quarter earnings on Oct. 21.
Company Web site: rfmd.com
-Jenny Park; Dow Jones Newswires; 201-938-5400 |
