RFMD sees continued growth in current quarter
The company expects results for the December 2002 quarter to be "at least at the high end" of the range of $128 million to $132 million in revenues and 4-5 cents in earnings per share, before one-time items related to the acquisition of Resonext.
Regarding the March 2003 quarter, RFMD stated that it is already fully booked to exceed current consensus revenue estimates.
Bob Bruggeworth, president of RFMD, said that the company believes it is experiencing market share gains in handsets and in wireless LAN products. He added that RFMD expects sustainable long-term growth through continued power amplifier market share gains in CDMA and GSM handsets, increased sales of small signal devices in handsets, ongoing WLAN market share gains, and, later, demand for Bluetooth, GPS and high-powered PAs for wireless infrastructure.
"We believe we are either taking huge chunks of market share or the market is growing, or both," said Dean Priddy, RFMD s CFO. "From our viewpoint, we think it s a combination of both. We believe this growth is sustainable in the near term, and we expect our strategic growth initiatives in wireless LAN, Bluetooth, GPS, infrastructure and other markets position us for long-term growth and operating income improvements."
