TriQuint Semiconductor Provides Updated Guidance
TriQuint Semiconductor Inc. (Hillsboro, OR) provided updated guidance for the quarters ending December 31, 2001, and March 31, 2002. The company's revenue estimate for the quarter ending December 31, 2001, is approximately $64.0 million to $66.0 million, with adjusted earnings per share of a loss ranging from $0.01 to $0.03 before an impairment charge. This compares to a previous estimate of approximately $75.0 million with adjusted earnings per share of approximately $0.04.
The company estimates its revenue and earnings per share for the quarter ending March 31, 2002, to be similar to the quarter ending December 31, 2001.
Earlier this quarter, TriQuint stated that it would record an asset impairment charge of approximately $100.0 million, pending final appraised value, in the quarter ending December 31, 2001. This asset impairment charge is due to excess capacity and a lowering in the value of several private-equity investments.