RFMD Announces Shareholders Approval of Proposals & Dates of Investor Presentations
RF Micro Devices, a global provider of high-performance radio frequency components and compound semiconductor products, has announced that all agenda items at its 2010 Annual Meeting of Shareholders were approved by the shareholders.
The proposals approved by RFMD shareholders were:
(1) Election of eight directors to serve a one-year term
(2) Amendment of the Employee Stock Purchase Plan to increase the number of shares authorized for issuance
(3) Amendment of the 2003 Stock Incentive Plan to increase the number of shares authorized for issuance and approval of certain terms designed to preserve the tax deductibility of certain compensation paid under the 2003 Stock Incentive Plan, pursuant to the provisions of Section 162(m) of the Internal Revenue Code of 1986, as amended
(4) Ratification of the appointment of Ernst & Young LLP as RFMD's independent registered public accounting firm for the fiscal year ending April 2, 2011
RFMD is experiencing strength in its addressed markets driven by momentum across cellular, fixed broadband, wireless infrastructure, smart energy and other high-growth semiconductor applications.
On July 27, 2010, the firm announced a fifth consecutive quarter of sequential revenue growth and fourth consecutive quarter of record operating income.
RFMD is forecasting year-over-year revenue growth in fiscal 2011, supporting double-digit growth in earnings per share and continued strong free cash flow (net cash provided by operating activities during the period minus property and equipment expenditures made during the period).
RFMD company executives are scheduled to present at two upcoming investor conferences:
-- Oppenheimer & Co. Inc. Annual Technology, Media & Telecommunications
Conference, Tuesday, August 10, 2010 in Boston, MA, at 9:50 a.m. EDT
-- Morgan Keegan Technology Conference, Wednesday, August 11, 2010 in New
York, NY, at 8:30 a.m. EDT
A live audio webcast of these presentations will be available on the Company's web site via the following link : www.rfmd.com (under "Investors").
