© wrangler Business | January 08, 2016

Another electronics supplier warns on 3Q fiscal

Qorvo expects that revenue and earnings for its fiscal 2016 third quarter will be lower than it previously estimated on November 5, 2015.
Qorvo currently expects its December quarterly revenue will be approximately USD 620 million, versus its original guidance of USD 720-730 million provided November 5, 2015 in its second quarter earnings report. The revenue decline is the result of weaker than forecasted customer demand in the Company's Mobile Products segment. Operating expenses are expected to decline sequentially, reflecting a significant reduction in variable compensation expense.

For the March 2016 quarter, Qorvo currently expects quarterly revenue to be approximately flat sequentially. For calendar 2016, Qorvo currently expects above-market revenue growth, based upon customer forecasts and existing customer design wins at Qorvo's largest customers.


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