News in Brief: RFMD, Riber, Ommic, Celeritek
MBE equipment manufacturer Riber reported lower sales and an overall loss for its fiscal year ending December 31, 2002. Sales totaled 18.6 million Euros ($19.9 million), down 45.6% on the 2001 figures, and operating profit was 6.7 million Euros ($7.2 million), down nearly 53%.
After making provision for an inventory write-down, the company recorded a loss of 3.2 million Euros, compared to a profit of 12.6 million Euros in 2001. Although production machine sales declined 61% during 2002, reflecting low capital investment by manufacturers, sales of research MBE tools increase by 31%.
RFMD warns of wider losses
RFIC manufacturer RF Micro Devices updated previous guidance for the March 2003 quarter, warning that losses would be wider than initially expected. Although revenues are now expected to be slightly higher at $138.3 million as opposed to the $135 million originally estimated, the company is now guiding for a loss of between 5 and 7 cents per share. Previous guidance had been for breakeven to a loss of 1 cent per share.
RFMD attributes the increase in its expected net loss for the quarter to a shift in product mix. The company has seen decreased demand in the final weeks of the March quarter for higher margin products such as CDMA and TDMA PAs and increased demand throughout the quarter for lower margin PA modules, specifically dual-band PA modules for GSM handsets.
RFMD will provide its complete 2003 fourth quarter and fiscal year financial results and its guidance for the fiscal 2004 first quarter 2003, on April 22, 2003.
Celeritek calls special meeting of shareholders
Celeritek has scheduled a special meeting of shareholders for May 19, to consider and vote on proposals put forth by a disgruntled group of shareholders, which calls itself the Celeritek Shareholder Protective Committee (see related story). The Committee’s proposals include the replacement of Celeritek’s existing board of directors.
The existing board has issued a statement urging shareholders to vote against the group s proposals and for the board s proposal to re-elect the six existing members of the board.
OMMIC achieves ISO Certification
OMMIC has achieved ISO 90001:200 certifications for its GaAs MMIC and III-V epitaxy operations in Limeil, France. The company also holds the ISO14001 certificate for good environmental practice at its facilites.
