TriQuint profits from strong revenue growth
TriQuint is the latest of an increasing number of GaAs chip manufacturers to report a sharp upturn in its financial results.
The Hillsboro, OR, company posted total sales of $87.9 million in its latest quarter, which ended on March 31. That represented a 4% sequential increase despite the traditionally slow start to the calendar year, and a 31% hike from the equivalent period in 2005.
While other leading GaAs companies are reporting a similarly improving picture, TriQuint CEO Ralph Quinsey attributed the recent boost to some successful product launches. "The favourable results validate our progress towards our long-term goals of innovation, profitable growth and market share gains," he said.
Quinsey added that TriQuint's revenue outlook for 2006 was improving as a result, and the company now predicts an increase of between 34% and 37% over the 2005 sales figure of $294.8 million.
TriQuint is also looking stronger on its bottom line, registering a profit of $2.2 million in the latest quarter compared with a loss of $7.7 million during the same period last year.
Based on its current number of diluted shares, TriQuint expects to make a total net profit somewhere in between $11.3 million and $18.4 million during the current fiscal year.
