RFMD lowers guidance for June quarter
RFMD says that the anticipated shortfall in quarterly revenues is due primarily to customer push-outs of orders that were booked in the March quarter and had been expected to ship in the June quarter. These push-outs are related mainly to the timing of introductions of certain new handset models that have been delayed by factors beyond RFMD s control.
The push-outs are being partially offset by increased order activity and shipments of components to multiple first- and second-tier handset customers. These orders are currently shipping and are expected to contribute to revenue growth in the September quarter. Based on backlog and customer forecasts, RFMD currently expects revenues and earnings will increase sequentially in the September quarter.
Shares in Nokia, which is by far RFMD’s largest customer, fell to their lowest level in three years after the warning by RFMD.
