RF Micro Devices Reaffirms December Guidance

January 07, 2003 by Jeff Shepard

RF Micro Devices Inc. (Greensboro, NC), a provider of proprietary radio frequency integrated circuits (RFICs) for wireless communications applications, commented on the company's fiscal 2003 third and fourth quarters.

Regarding the fiscal 2003 third quarter ended December 31, 2002, the company expects that financial results will be at least at the high end of the range of $128 to $132 million in revenues and $0.04 to $0.05 in earnings per share. The company also commented that operating income, which improved 300 basis points in the September 2002 quarter, is expected to continue to improve in the December 2002 quarter.

Regarding the fiscal 2003 fourth quarter ending March 31, 2003, the company indicated it is already fully booked to exceed current consensus revenue estimates. It also noted two weeks remain before the company provides revenue and earnings guidance for the March 2003 quarter.