Triquint Semiconductor Provides Updated Guidance
HILLSBORO, OREGON TriQuint Semiconductor, Inc. (Nasdaq: TQNT) today provided updated guidance for the quarters ending December 31, 2001 and March 31, 2002. The Company s revenue estimate for the quarter ending December 31, 2001 is approximately $64 million to $66 million with adjusted earnings per share of a loss ranging from $0.01 to $0.03 before an impairment charge. This compares to a previous estimate of approximately $75 million with adjusted earnings per share of approximately $0.04.
The Company estimates its revenue and earnings per share for the quarter ending March 31, 2002, to be similar to the quarter ending December 31, 2001. Earlier this quarter, TriQuint Semiconductor stated that it would record an asset impairment charge of approximately $100 million, pending final appraised value, in the quarter ending December 31, 2001. This asset impairment charge is due to excess capacity and a lowering in the value of several private equity investments. The earnings per share estimate above excludes the impact of these charges.
The Company will host a live web cast conference call to update the financial community today, , at 5 p.m. Eastern time. All are welcomed to join the call via a live webcast accessed through the Investor Relations section of TriQuint Semiconductor s web site: www.triquint.com.
FORWARD LOOKING STATEMENTS: This press release contains historical information and statements that may not be indicative of future results. A number of factors affect TriQuint s operating results and could cause the company s actual future results to differ materially from any results indicated in this press release or in any other forward-looking statements made by, or on behalf of TriQuint, including those related to its respective markets, the demand for semiconductors for applications such as optical networks and wireless communications, the demand for products utilizing SAW technology, and performance of its manufacturing facilities. TriQuint cannot provide any assurance that future results will meet expectations. Results could differ materially based on various factors, including the company s performance and market conditions. In addition, historical information should not be considered an indicator of future performance. Additional considerations and important risk factors are described in TriQuint s Reports on Form 10-K and 10-Q and other filings with the Securities and Exchange Commission. These reports can also be accessed at the SEC website, www.sec.gov.
ABOUT TRIQUINT: TriQuint Semiconductor, Inc. (NASDAQ: TQNT) is a leading supplier of high performance components for communications applications. The company strives for diversity in its markets, applications, products, technology and customer base. Markets include wireless communications, telecommunications, data communications and aerospace with a specific focus on RF, analog and mixed signal applications. TriQuint provides customers with standard and custom product solutions as well as foundry services. Products are based on advanced process technologies including gallium arsenide, indium phosphide, silicon germanium, and SAW filters. TriQuint customers include major communications companies worldwide. TriQuint has facilities in Oregon, Texas, Florida, and Massachusetts in the United States and in Costa Rica. All are certified to the ISO9001 international quality standard.
TriQuint is headquartered at 2300 NE Brookwood Parkway, Hillsboro, OR 97124 and can be reached at 503-615-9000 (fax 503-615-8900). Visit the TriQuint web site at http://www.triquint.com.
Contact: Ray Link VP Finance & Administration, CFO TriQuint Semiconductor Inc. Tel: (503) 615-9435 Fax: (503) 615-8904 Email: rlink@tqs.com or Heidi Flannery Investor Relations Counsel Fi. Comm Tel: (503) 203-8808 Fax: (503) 203-6833 Email: heidi.flannery@ficomm.com
Ray LinkVP Finance & Administration, CFO
TriQuint Semiconductor Inc.
Tel: (503) 615-9435
Fax: (503) 615-8904
Email: rlink@tqs.com
or
Heidi Flannery
Investor Relations Counsel
Fi. Comm
Tel: (503) 203-8808
Fax: (503) 203-6833
Email: heidi.flannery@ficomm.com
E-mail: heidi.flannery@ficomm.com
Web site: http://www.triquint.com
