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Technology Stocks : Triquint Semiconductor (TQNT) -- Ignore unavailable to you. Want to Upgrade?

To: Tom Lynch who wrote (468)	7/15/1998 10:13:00 PM
From: METMAN	Respond to of 995

Has the Earnings release been posted? Here's the link at TQNT homepage: triquint.com FOR IMMEDIATE RELEASE TriQuint Semiconductor, Inc. Announces Second Quarter 1998 Results Hillsboro Oregon - July 15, 1998 -- TriQuint Semiconductor, Inc. (NASDAQ: TQNT) today reported its financial results for the Second Quarter 1998 ending June 30, 1998. Revenues for the Second Quarter 1998 were a record $27.9 million, including revenues from its newly acquired Millimeter Wave business resulting in a 50.3% increase over the $18.5 million in the comparable period of 1997. Net income for the Second Quarter 1998 was $2.0 million ($0.21 per share on 9.72 million weighted average shares outstanding) compared to a net income of $2.3 million ($0.25 per share on 9.13 million weighted average shares outstanding), reported for the Second Quarter of 1997. For the six month period ending June 30, 1998 revenues were $51.6 million, including revenues from its newly acquired Millimeter Wave business, resulting in a 45.9% increase over the $35.3 million in the comparable period of 1997. For the six month period ending June 30, 1998 the Company reported a net loss of $10.3 million ($1.10 per share on 9.32 million weighted average shares outstanding), compared to a net income of $4.0 million ($0.44 per share on 9.10 million weighted average shares outstanding), for the comparable period of 1997. The loss was due to one time charges in the First Quarter related to the acquisition of the Millimeter Wave business from Raytheon TI Systems, settlement of the class action lawsuit and transition to the Company's new wafer fabrication facility. In commenting on the quarter results, Steven J. Sharp, TriQuint's Chairman, President and CEO stated that, "The second quarter of 1998 was an excellent quarter for TriQuint. Orders and revenues were at record levels. Both our Wireless and Texas-based Millimeter Wave operations achieved record revenues. During the Second Quarter we announced several new products including a 1.5 GB/Sec Digital Crosspoint switch for High Definition TV and high performance communication systems based on Fibre Channel, Gigabit Ethernet, SONET and ATM applications; four high efficiency Millimeter Wave High Power Transistors for applications up to 12 GHz including Point-to-Point Digital Radios and Satellite communications and two Millimeter Wave Power amplifiers for applications up to 29 GHz for LMDS, Digital Radio, and Radar systems. In the Second Quarter we scored 57 major design wins. This figure now includes the Millimeter Wave business which captured 18 design wins, plus 19 in Wireless Communications and a record 20 in Telecom. On a year to date basis, our design wins in both Wireless and Telecom are about 30% ahead of last year's pace. We define major design wins as those which we believe will generate at least $100,000 per year in revenues if and when they reach production. In June, we announced the formation of a Foundry Services Division. TriQuint is the leading merchant market supplier of GaAs foundry services. Creating a separate division will allow us to focus on the unique customer requirements of this important business segment. Again this year, TriQuint was selected by Deloitte and Touche, LLP as one of the 50 fastest growing companies in Oregon." This press release contains both historical information and forward-looking information. Numerous important factors affect the Company's operating results and could cause the Company's actual results to differ materially from the results indicated in this press release or in any other forward-looking statements made by, or on behalf of, the Company, and there can be no assurance that future results will meet expectations. The Company's results could differ materially based on various factors including, and without limitation, the cancellation or deferral of customer orders; the timely development and market acceptance of new products; continued growth in wireless communication; the ability to manufacture new or existing products in sufficient quantity or quality; the successful integration of recent acquisitions; and economic conditions. Additional considerations and important factors are described in the Company's Report on Form 10-K filed with the Securities and Exchange Commission in March 1998 and the subsequent Form 10-Q filed with the Securities and Exchange Commission, copies of which are available on request from the Investor Relations department of the Company. TriQuint Semiconductor, Inc. (NASDAQ: TQNT) (www.triquint.com) is a leading manufacturer of radio frequency (RF), microwave, millimeter wave, analog and mixed signal gallium arsenide (GaAs) integrated circuits. The Company produces standard and customer specific ICs for high performance wireless, telecommunications, computer, defense and aerospace systems, and also offers GaAs manufacturing services. TriQuint is certified to the ISO9001 International Quality Standard. TriQuint has operations in Oregon and Texas. The Company's headquarters are located at 2300 NE Brookwood Parkway, Hillsboro, Oregon, 97124.