TriQuint excited about cell-phone prospects
GaAs chip manufacturer TriQuint Semiconductor posted revenue of $75.2 million in the quarter that ended on September 30, representing a drop of 8% from the same period in 2004.
Despite that drop, the Hillsboro, OR, firm registered a net profit of $2.6 million as capacity utilization in its high-volume fabs improved and the disposal of its optoelectronics business benefited the bottom line.
Reductions in the company's workforce led to a 7% sequential decrease in operating expenses, while demand in key sectors is looking healthier.
CEO Ralph Quinsey attributed the improved performance to both increased shipments to CDMA handset makers and also a more buoyant military market than has been seen of late.
Quinsey said that both these sectors had returned to "˜normal' levels of demand, adding: "The outlook for the [current] quarter and beyond is exciting as we booked record orders of over $13 million for our power amplifier products, largely in GSM/GPRS applications."
Revenue in the seasonally-strong fourth quarter is expected to rise by at least 10% sequentially as consumers buy up new cell-phones.
Profitability is also expected to receive a boost as fab capacity utilization improves further.