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News

18 July 2007

 

TriQuint cuts Q2 income guidance from $6m to $1-2m

On the basis of preliminary results for second-quarter 2007, GaAs-based wireless component maker TriQuint Semiconductor Inc of Hillsboro, OR, USA has lowered its guidance for net income from $6m to $1-2m (or $3-4m, excluding equity compensation expense of about $2m). Revenue will be $113-114m, in line with the previous guidance of flat or slightly up on the first quarter’s $110.6m.

The main reason for the unexpected cut in forecasted net income is a charge of about $4m for inventory that unexpectedly became excess, largely due to a reduction in demand from a ‘significant customer’, says TriQuint.

Guidance for full-year 2007 is now for revenue to rise 14-18% and for earnings to rise 10-20% compared to 2006’s $401.8m and $22.4m, respectively. In February, TriQuint had forecast growth of 18-20% and 40-50% for revenue and net income, respectively, for full-year 2007.

See related item:

TriQuint results boosted by new top-five handset customer

Visit: http://www.triquint.com