TriQuint posts losses as mobile demand wanes
US chipmaker blames weak results on slow mobile device demand
US chipmaker TriQuint Semiconductor has posted quarterly losses, blaming its weak results on low demand for mobile devices.
Revenues for the second quarter of 2012 were $178 million, down 22% from the same time last year, and down 18% sequentially.
Net losses came in at $16.5 million this quarter, compared with a profit of $16.6 million, in the previous year.
"TriQuint's second quarter performance was in line with expectations,” said Ralph Quinsey, TriQuint president and chief executive. “Mobile devices demand was soft in the second quarter as the smartphone industry prepares for a seasonally strong second half.”
“However, our Defense and Networks revenue was slightly up year-to-date with a healthy outlook for the remainder of the year,” he added. “We believe TriQuint is well positioned for revenue growth and improved financial performance in the second half of 2012.”
TriQuint recently announced a $12.3 million GaN DARPA contract to develop ultra-fast power switch technology and has introduced the industry's first 802.11ac Wi-Fi RF module for next-generation smartphones and tablets.
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