Triquint Semi Reports Second-Quarter 2003 Results

July 24, 2003 by Jeff Shepard

TriQuint Semiconductor Inc. (Hillsboro, OR) reported its financial results for the quarter ended September 30, 2003. Revenue in the quarter was $78.8 million, up 10.9% compared to the third quarter of 2002 and up 8.2% compared to the second quarter of 2003. The gross margin improved to 29.8% compared to 25.7% in the second quarter of 2003.

The net loss for the quarter of $5.8 million, or a loss of $0.04 per share, is substantially improved compared to a pro-forma loss of $15 million, or $0.11 per share, for the second quarter of 2003. Recurring engineering, sales and administration expenses declined from $32.1 million in the second quarter of 2003 to $27.4 million due to recently enacted expense reduction initiatives. Cash, short-term investments and long-term marketable securities totaled $378 million at September 30, 2003.