TriQuint and Kopin see sequential revenues rise
TriQuint has reported a loss for the second-quarter ending June 30 of $59.6 million, compared with net income of $2.4 million in the year-ago quarter. The loss included charges of $53.3 million for severance, lease termination and losses from the optoelectronics business acquired from Agere.
Second-quarter revenue rose 19% to $72.8 million, of which $8.7 million came from the optoelectronics business.
The company now expects a third-quarter loss per share between 8 cents and 11 cents, on revenue of $70-$74 million, a higher loss than analysts’ forecast of 7 cents a share on revenue of $75.3 million.
TriQuint is expecting its operating expenses to fall over the next two quarters as recent cost-cutting efforts take effect. Gross margins are expected to improve to between 24% and 27% for the September quarter and between 26% and 30% for the December quarter.
Although disappointed to post a loss, TriQuint’s president and CEO, Ralph Quinsey sees grounds for optimism. “We are encouraged by our activity in wireless handsets, the WLAN market and the modest rebound in our optoelectronics business,” said Quinsey.
“We believe our first sequential growth quarter in optoelectronics marks the turning point in our investment for this market. Our focus continues to be the rapid introduction of new products in all of our markets leveraging our core competence across a diversity of opportunities.
Inventory build-up hits III-V revenue at Kopin
Epiwafer and LCD display manufacturer Kopin posted revenue of $19.9 million in the June quarter, up from $18 million in the March quarter.
Kopin s net loss for the quarter was $1.0 million, compared with a net loss of $2.2 million in the first quarter of 2003, and a net loss of $1.6 million in the June quarter of 2002.
The revenue growth was driven by the CyberDisplay business and the ramping of the company s CyberLite blue LED activity. Revenue from the new CyberLite products was in line with expectations at $2 million.
HBT epiwafer sales decreased 9% sequentially to $8.7 million, hit by the buildup of finished goods inventory in Asia.
