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28 July 2006


TriQuint celebrates ‘largest operating income quarter since March of 2001’

TriQuint Semiconductor Inc’s revenue for Q2/2006 (ended June 30, 2006) was $96.3m, an increase of 42% over Q2/2005 and up 10% on Q1/2006.

Net income for Q2/2006 was $5.6m including equity compensation expense of $2.6 million. Earnings for the quarter were $0.04 per diluted share, and the gross margin equalled 32.1% including equity compensation expense, and 32.9% without equity compensation expense, up 1.8% from a gross margin of 31.1% in Q1/2006. TriQuint says the increase was primarily due to product mix and yield and capacity utilization improvements. The company’s book-to-bill ratio for the quarter was 1.08 to 1.0.

Ralph Quinsey, TriQuint’s president and CEO, said: “TriQuint delivered another solid growth quarter, gained share in handsets and exceeded expectations. This was our fifth consecutive quarter of revenue and gross margin growth and our largest operating income quarter since March of 2001. Our net earnings more than doubled this quarter as compared to the previous quarter. We set new revenue records for both our innovative transmit modules and our power amplifier modules. Bookings for transmit modules were up 48% over the first quarter as a result of extending this leadership form factor into the CDMA and 3G markets. I am also pleased we were awarded additional contract R&D dollars from the Office of Naval Research (ONR) to invest in leadership technology for future military applications. We remain on track to our long term goals of innovation, profitable growth and share gains in our targeted markets and are seeing the results of our execution evidenced by the increase in our earnings outlook for the year.”

TriQuint expects Q3/2006 revenue to increase 4% to 8% over Q2/2006.

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