"The largest end markets for semiconductor devices are PCs, cell phones, networking-telecom equipment, and they all look like they are dead in the water for the next two years".
Wrong...lots of data indicating segments of wireless are picking up now...here's the latest (and I wouldn't be surprised to see AHAA join the chorus):
RF Micro Devices Increases Guidance for Fiscal 2002 Second Quarter
9/10/2001 6:31:00 AM
GREENSBORO, N.C., Sep 10, 2001 (BUSINESS WIRE) -- RF Micro Devices, Inc. (RFMD) , a leading
provider of proprietary radio frequency integrated circuits (RFICs) for wireless communications applications,
announced today that it expects financial results for its fiscal 2002 second quarter ending September 30, 2001 will significantly exceed previously announced forecasts.
Management currently estimates that customer shipments to date and remaining backlog for its September 2001
quarter will support sequential revenue growth of approximately 30% and generate revenues of approximately $91
million. Also, management currently anticipates these revenues will produce break-even financial results.
By comparison, on July 17, 2001 the Company indicated in its fiscal 2002 first quarter financial results press
release that it believed sequential revenue growth in the September 2001 quarter would be approximately 10% and
that the net loss per share for the quarter would be approximately ($0.03). The Company's revenues for the June
2001 quarter were approximately $70.1 million.
The increase in anticipated revenues is due primarily to increased orders placed during the September 2001 quarter
for both microwave monolithic integrated circuit (MMIC) and module products.
Comments From Management
"We're extremely pleased to forecast better-than-expected sequential revenue growth for the September 2001 quarter," said David Norbury, President and Chief Executive Officer of RF Micro Devices. "We are seeing increased order activity and revenue growth from multiple customers and across all major air interface standards. We believe this growth is attributable to market share gains, increased end-user demand and normalized inventory levels. As a result of these factors, as well as existing backlog and customer forecasts, we currently expect revenues in the December 2001 quarter to exceed the $91 million in revenues we are anticipating for the September 2001 quarter."
RF Micro Devices will provide additional guidance in its fiscal 2002 second quarter press release and conference
call, which are scheduled for Tuesday, October 16, 2001 at 4:00 pm and 5:00 pm ET, respectively.
RF Micro Devices, Inc., an ISO 9001-certified manufacturer, designs, develops, manufactures and markets
proprietary radio frequency integrated circuits (RFICs) primarily for wireless communications products and
applications such as cellular and PCS phones, base stations, wireless LANs, and cable television modems. The
Company offers a broad array of products - including amplifiers, mixers, modulators/demodulators, and single-chip
receivers, transmitters and transceivers - representing a substantial majority of the RFICs required in wireless
subscriber equipment. The Company's strategy is to focus on wireless markets by offering a broad range of
standard and custom-designed RFICs in order to position itself as a "one-stop" solution for its customers' RFIC
needs. RF Micro Devices, Inc. is traded on the Nasdaq National Market under the symbol RFMD.
This press release contains forward-looking statements that relate to RF Micro Devices' plans, objectives,
estimates and goals. Words such as "expects," "anticipates," "intends," "plans," "projects," "believes," "forecasts,"
and "estimates," and variations of these words and similar expressions, identify these forward-looking statements.
RF Micro Devices' business is subject to numerous risks and uncertainties, including probable variability in
quarterly operating results, the rate of growth and development of wireless markets, risks associated with the
operation of wafer fabrication facilities, its ability to manage rapid growth and to attract and retain skilled personnel,
variability in production yields, raw material availability, manufacturing capacity constraints, dependence on a
limited number of customers and dependence on third parties. These and other risks and uncertainties, which are
described in more detail in RF Micro Devices' most recent Annual Report on Form 10-K filed with the Securities
and Exchange Commission, could cause actual results and developments to be materially different from those
expressed or implied by any of these forward-looking statements.
RF MICRO DEVICES(R)and RFMD(R)are trademarks of RFMD, LLC.
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