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Non-Tech : EARNINGS REPORTING - surprises, misses & more -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (139)	7/23/2000 3:42:38 AM
From: 2MAR$	Read Replies (1) \| Respond to of 762

7/18...RFMD net tops consensus, but stock little changed GREENSBORO, N.C., July 18 (Reuters) - RF Micro Devices Inc. (NasdaqNM:RFMD - news), a top maker of amplifier chips that link cellphones to networks, on Tuesday posted earnings slightly ahead of expectations on year-over-year revenue growth of 58 percent. Net income for the first fiscal quarter ended in June grew to $16.2 million, or 19 cents per diluted share, compared with net income of $10.4 million, or 12 per diluted share, in the year-ago June quarter. The latest quarter's results came in spite of a higher tax rate and increased share count and were a penny per share ahead of the 18 cents per share consensus among analysts surveyed by First Call/Thomson Financial, which compiles broker estimates. Revenue for the June quarter grew to $98.2 million, up 58.3 percent from the $62.0 million for the-year-earlier quarter and up 15.8 percent sequentially from the quarter ended in March of this year, amid booming worldwide demand for mobile phones. In anticipation of the report, shares of RF Micro fell 3-7/8 to 89-13/16 during regular session trading. They traded around 90, or little changed, in after-hours trading following the report. The stock remains well off its record high of 184-1/2 set in early March before a plunge in high-tech stocks hit and more recent concerns over growth in the mobile market. In a statement, the David Norbury, president and chief executive of the communications chip maker said growth was strong among new and existing customers and across major regions of the globe. ``Looking forward, we anticipate continued strong growth in demand in our core market for wireless handsets and we expect to continue to leverage our technologies to further penetrate additional high-growth markets,'' Norbury said. He cited the growing demand for high-speed Internet communications and for short-range wireless equipment based on an emerging standard known as Bluetooth. ``Our overall outlook remains positive,'' he said. The incremental increase in revenue was due largely to the expansion of its gallium arsenide chip-making capacity during the latest quarter, the company said in a statement. RF Micro derives nearly 90 percent of its revenue from such chips. Gross profit for the quarter grew 91.5 percent to $50.6 million, as higher volumes and lower costs buoyed margins.