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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (1699)	7/22/2002 5:08:04 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

TriQuint expects sequential growth EBN (07/22/02 04:27 p.m. EST) TriQuint Semiconductor, Inc., Hillsboro, Ore., today reported revenue for the quarter ended June 30 of $61.2 million, with GAAP net income of $2.4 million or 2 cents per diluted share. Net income includes $3.6 million of other income of which $4.6 million relates to a gain on hedging foreign currency for the acquisition of the Infineon gallium arsenide business, a $2.3 million gain from the early retirement of a portion of its long term debt, offset by a loss of $3.3 million due to a write down of an equity investment. Excluding these three items, TriQuint improved to a pre-tax loss of $297,000 compared to a pre-tax loss of $2.7 million in Q1 2002. The book-to-bill ratio for the company was 1.07 for the quarter, the first time in six quarters that the overall book-to-bill ratio exceeded one. "Our results for the second quarter with revenue of $61.2 million and a slight operating loss were better than we projected due to stronger sales of SAW-related products, strength in our defense business and slightly improved margins," the company said in a released statement. TriQuint expects revenue for the third quarter of 2002 to be higher than the second quarter with revenues estimated to be in the range of $69 million to $74 million. Diluted earnings per share before acquisition related charges are estimated to be breakeven to a loss of 2 cents. Acquisition related costs, primarily the write off of in-process research and development are estimated at $5 million to $10 million in the third quarter of 2002. The company said it is seeing some improvement in its wireless handset business, particularly at Sawtek, continued strength in its defense business coupled with ongoing weakness in its optical networking business.