TriQuint aims for profitability in 2005
Oregon-based III-V device manufacturer TriQuint Semiconductor narrowed its loss to $29.1 million in 2004 after a year that saw record shipments of components and devices.
Total revenue in the year ended December 31, 2004 was $347 million, up 11% on 2003.
In its final trading quarter of 2004, the company saw a dip in demand for its products used in wireless markets as revenue declined both sequentially and on the prior year to $74.7 million.
Forced to record substantial charges in the quarter after changing its business plan in the optoelectronics sector, TriQuint reported a loss of $25.3 million under standard accounting procedures.
However, the underlying loss made under normal business activity was only $8.9 million.
TriQuint CEO Ralph Quinsey and his colleagues will focus on making a return to profitability in 2005. While revenue is expected to be approximately the same as last year, the company hopes to reduce operating expenses thanks to its new optoelectronics strategy, which will focus on chip manufacturing and not modules.
"While we expect revenue in the first quarter of 2005 to be seasonally weaker, we expect subsequent quarters to be sequential growth quarters," said Quinsey.