TriQuint Semiconductor Inc. (Hillsboro, OR) reported its financial results for the quarter and year ended December 31, 2003. Revenue grew 13 percent over the third quarter of 2003 to $89.0 million due to strong demand in the wireless handset and wireless LAN markets. Net profit after tax of $8.9 million, resulting in diluted earnings per share of $0.06 on the basis of accounting principles generally accepted in the US. Gross margins improved 270 basis points sequentially to 32.5 percent.
The revenue in the quarter was $89 million, up 13 percent over third-quarter 2003 and up 22.4 percent over fourth-quarter 2002. The gross margin improved to 32.5 percent, compared to 29.8 percent in the third quarter of 2003. A net profit after tax on a GAAP basis of $8.9 million, equal to $0.06 per diluted share compares to a loss in the third quarter of $5.8 million.
For the year ended December 31, 2003, revenues were $312.3 million for 2003, which was an increase of 16.8 percent over the revenues of $267.3 million for 2002, due to improved sales of products for wireless phones and inclusion of the results of TriQuint Optoelectronics for the full year. The net loss on a GAAP basis improved from a loss of $158.6 million in 2002 to $73.0 million in 2003.
