TQNT raises guidance.........
After hours reaction is positive. Let's hope that it
lasts tomorrow and that other's can follow suit.
Interesting today that the top tier companies and the SOXX
were up, while most other smaller semi-equips were down.
Eric.
PS: BWAC, ATML is also up in AH.
biz.yahoo.com
HILLSBORO, Ore.--(BUSINESS WIRE)--Dec. 10, 2003--TriQuint Semiconductor, Inc. (Nasdaq:TQNT - News) will discuss updated financial guidance during its previously scheduled mid-quarter conference call today at 2:00 p.m. Pacific time.
Highlights:
Strong bookings, especially for wireless phones products, continue during the quarter
GAAP EPS profit is projected for the quarter
Increasing the guidance for revenue, gross margin and earnings per share for Q4 2003
Outlook for Q4 2003:
The Company previously forecast its revenue for the quarter ending December 31, 2003, to be in the range of $80 million to $83 million, its gross margin to be in the range of 30% to 32% and a loss per share of between $0.02 and $0.04.
Based on the Company's current shipments in this quarter, the current backlog and anticipated shipments for the balance of the quarter, the Company is revising its forecast upward for the quarter ending December 31, 2003. The Company now expects its revenue to be between $85 million and $87 million for the fourth quarter of 2003, with a gross margin between 32% and 33%, operating income at breakeven to a slight profit, and a net profit after tax of between $4 million and $5 million. The Company expects to record a one-time gain of approximately $6 million resulting from the proceeds of a payment of a previously impaired note from an investment in a non-public company, net of other impairments. The net result will be an earnings per share on the basis of accounting principles generally accepted in the U.S. (GAAP) estimated at $0.03 to $0.04.
Ralph Quinsey, President and CEO, stated, "We are updating and raising our guidance for Q4 2003 because our shipments and bookings have been very strong so far this quarter. End market demand for our products for wireless phone applications has been extremely strong. We continue to gain share with our new products and continue to execute our plan to reduce costs and improve profitability."
The Company is expecting revenue for the first quarter of 2004 to be seasonally down from the fourth quarter of 2003 due to the holiday selling season for wireless phones. At this time, the Company is projecting revenue for Q1 2004 to be in the range of $77 million to $80 million. |
