News Article
Order backlog boosts RFMD’s revenue estimates
RF Micro Devices has announced that it expects its revenue, gross margin and earnings for the quarter ending September 30, 2003 to exceed the company's prior guidance provided on July 15, 2003.
RFMD currently has backlog to support a double-digit percentage increase in September quarterly revenue from the prior quarter and currently anticipates net income to be at or slightly above breakeven.
By comparison, on July 15, 2003, the company forecast flat revenue in the low $130-million range and a quarterly loss of approximately ($0.04) to ($0.05) per share.
“Customer activity has been robust, the product mix is improving and our internal gross margin improvement initiatives are tracking better than we originally anticipated,” said Bob Bruggeworth, CEO of RFMD. “We are increasingly confident in our efforts to return the company to profitability.”
Looking beyond September, Bruggeworth said that the strong, sustained order activity seen in the current quarter is providing RFMD with a healthy and increasing backlog entering the December quarter.
