RF Micro Devices posts record sales figures
Radio frequency IC manufacturer RF Micro Devices made record sales of $163.5 million in its quarter ended September 30, 2003. The figure represents a 24% jump on the previous quarter and a 36.5% increase on the equivalent period last year.
RFMD attributed the improved sales to the strength of the cellular handset market and manufacturing efficiencies gained by its ongoing conversion from four-inch to six-inch GaAs wafer fabrication.
Cost savings from this conversion helped boost the company’s net income to $11.4 million for the quarter. This compares with $6.5 million during the same period last year and the net loss of $8.1 million it recorded in the previous quarter (see related story).
RFMD is predicting double-digit growth in revenue for the next quarter - traditionally the strongest of the year for the handset market – to reach sales of around $180 million.
Bob Bruggeworth, RFMD’s president and CEO, expects further growth next year. “We believe we re positioned for substantial new market share with our POLARIS(TM) family of GSM/GPRS/EDGE transceivers. In fact, we currently have POLARIS transceiver design wins with four of the top-five original equipment manufacturers, with production expected to begin in the first half of calendar 2004,” he said.
