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10 June 2009


RFMD hits non-GAAP profitability through first two months of quarter

RF Micro Devices Inc of Greensboro, NC, USA has provided updated financial information for its fiscal first-quarter 2010 (ending 27 June 2009) in a webcast investor presentation at the RBC Capital Markets Technology, Communications and Media Conference in San Francisco, CA.

According to chief financial officer & corporate VP of administration Dean Priddy, RFMD achieved non-GAAP profitability through the first two months of the quarter, and the cash, cash equivalents and short-term investments balance are ahead of plan, increasing by more than $15m. Also, order activity for RFMD’s products remains solid, and visibility for the September 2009 quarter continues to improve, says the firm.

Priddy also reaffirmed comments made on 27 May at the Barclays Capital Wireless And Wireline Conference in New York when president & CEO Bob Bruggeworth indicated that June-quarter demand was better than expected, gross margin was trending above plan, and operating expenses were meeting expectations.

Finally, Priddy reiterated RFMD's projection for free cash flow (net cash provided by operating activities minus property and equipment expenditures) of $80-120m in fiscal 2010.

See related items:

RFMD seeing better-than-expected order activity

RFMD still generating cash despite further 15% drop in revenue

RFMD’s fab utilization rebounding as orders improve

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