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TriQuint announces March quarter results and new company structure

TriQuint Semiconductor has released financial results for the quarter ended March. In line with its previous guidance, the company brought in revenues of $62.4 million, suffering a net loss of $2.2 million or $0.02 per diluted share. TriQuint also noted that its book to bill ratio for wireless phone products was greater than 1 for the first time since 2000 (the overall book to bill ratio was 0.95).

"Our results for the first quarter reflect the seasonal downturn associated with wireless phone products and the continuing difficulties in the optical equipment market," said chairman, president and CEO, Steven Sharp. "We experienced growth in our defense and base station markets in the quarter. Our balance sheet remains strong and we are focused on growing the business as our markets rebound and the economy recovers."

"We are beginning to see some strength in our wireless phone market relative to Q1, but the optical market remains very soft," added Sharp. "Our defense and base station markets continue to perform well but overall our results are expected to be about the same as Q1."

Company reorganization
TriQuint has also unveiled a new corporate structure intended to efficiently manage new technologies across broad markets in all regions of the world. Benefits include a dedicated strategic focus on module design, development, marketing and sales, an improved ability to more efficiently manage worldwide operations, increased focus on European and Asian markets, and a new structure for future acquisitions. The four business units are:

TriQuint s Wireless Modules and Worldwide Sales business unit, with operations in Oregon, Florida, and Massachusetts, will design and market modules for the wireless handset market. This group will have worldwide responsibility for the module design and marketing effort and will leverage TriQuint s technologies and products ranging from SAW filters and duplexers to GaAs and SiGe power amps and receivers.

Sawtek, based in Orlando, Florida, with manufacturing facilities in Costa Rica, will design, manufacture and market SAW filters, duplexers, oscillators and related products for the communications market.

TriQuint Texas, based in Richardson, Texas, will design, manufacture and market high frequency GaAs ICs for the military, satellite, optical networking and broadband equipment markets. TriQuint s corporate research and development activities in advanced semiconductor technologies will also be based in the TriQuint Texas business unit.

TriQuint Oregon, based in Hillsboro, Oregon, will design, manufacture and market ICs for the wireless communications, infrastructure and CATV markets. TriQuint Oregon will also be the headquarters of the company s Foundry Services. Raymond Link
TriQuint Semiconductor
Tel. +1 503 615-9435
Fax: +1 503 615-8904
E-mail: rlink@tqs.com
Web site: http://www.triquint.com

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