TriQuint ups guidance on strong revenue
TriQuint Semiconductor has reported revenue of $89.9 million for the quarter ending March 31 2004. The company has adjusted upwards its revenue forecast for 2004.
Revenue for the comparable quarter in 2003, and the seasonally strong previous quarter, were $71.6 million and $89.0 million, respectively.
TriQuint said that strength in its end markets continued to increase, with particular growth in base stations, wireless LAN, optical networks and cell phones.
The company recorded a slight profit in the first quarter of a fiscal year for the first time since 2001. The associated operating income of $1.1 million compares with an operating loss of $15.1 million for the first quarter of 2003.
“Demand for our diversified portfolio of wireless and optical products has increased. I am very optimistic about the second half of 2004,” commented president and CEO of TriQuint, Ralph Quinsey.
As a result, TriQuint has raised its guidance for 2004. It now forecasts revenue to be in the range of $365-$375 million, adjusted from the previous forecast of $340-$355 million. The company made an operating loss of $74.4 million in 2003, but expects to make an operating profit for 2004.