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27 April 2007


TriQuint results boosted by new top-five handset customer

For first-quarter 2007, RF chip maker TriQuint Semiconductor Inc of Hillsboro, OR, USA has reported better-than-seasonal revenues of $110.6m, roughly level with the prior quarter’s $114.3m but up 26% on $87.9m a year ago (and slightly above the firm’s $106-110m guidance).

According to president and CEO Ralph Quinsey, gross margin rising from 29.9% in Q4/2006 to 31.6%, and earnings rising from $2.2m in Q4/2006 to $6.4m (above the mid-point of the firm’s guidance), was due to a favorable product mix and improved yields on high-volume handset products.

As a proportion of handset revenue (which comprise 53% of total revenues), power amplifiers and PA modules have risen from 52% in Q3/2006 to 67% in Q4 and now 74%, while RF filters and front-end modules have fallen from 25% to 19% and now 16%.

In particular, during Q1/2007, TriQuint began shipments of power amplifier modules to a new top-five handset customer, and reported a record number of new handset design wins. The firm also booked $7.4m in R&D, supported by military and other contracts, mostly from year three of its DARPA GaN development project. “We recorded strong design win activity for handset products in the quarter, increased revenue in the space market and continued strong quote activity in the military market,” summarizes Quinsey.

For second-quarter 2007, TriQuint expects revenue to be flat to slightly up on Q1/2007 and earnings to be relatively flat.

See related item:

TriQuint reports seventh quarter of growth