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Components | April 30, 2012

TriQuint with 1Q revenues of USD 216.7 million

As part of a planned transition in filter packaging technology and due to a change in product mix, TriQuint plans to restructure its filter related operations during the second quarter.
Revenues for the first quarter of 2012 were $216.7 million, down 3% from the first quarter of 2011 and down 5% sequentially. Networks market revenue grew 10% sequentially while mobile devices market revenue and defense & aerospace market revenue decreased 8% and 4%, respectively.

Commenting on the results for the quarter ended March 31, 2012, Ralph Quinsey, President and Chief Executive Officer, stated, “Our revenue was better than normal seasonality in the first quarter and we saw signs of improvement in some of our infrastructure markets. While we anticipate a challenging second quarter in the mobile devices market, specifically with our largest customer, I believe this dip will be temporary and remain confident about our long term position. We have achieved design win success with our new products and I believe we will return to normal revenue levels and growth in the second half of 2012.”

Outlook

The Company believes second quarter 2012 revenues will be between $170 million and $185 million and non-GAAP gross margin is expected to be between 27% and 29%. Second quarter non-GAAP net loss per share is expected to be between $0.10 and $0.15 due to weak revenue and higher litigation costs. The Company expects to return to normal revenue levels in the second half of 2012. The Company is 91% booked to the midpoint of revenue guidance.

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