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26 October 2006


TriQuint handset revenues grow 57%, driving increased profits

For the third quarter of 2006, RFIC maker TriQuint Semiconductor Inc of Hillsboro, OR, USA has reported its sixth consecutive quarter of revenue growth: $103.3m, up 37% year-on-year. Handset revenue grew 57% and CDMA
transmit modules ramped from nearly zero revenue in Q2/2006 to over $2m.

"We set new revenue records in Q3 for both our transmit modules and our power amplifier modules as TriQuint continues to gain share with major handset manufacturers," says president and CEO Ralph Quinsey. "Orders for 3G products were up 168% in Q3 over Q2. The broadband and base-station products generated higher-than-expected revenues in the quarter, offset by lower
revenues from our foundry products." Operating income was $7.2m, up from $3.9m the previous quarter and $0.35m a year ago, and the best quarterly operating results since March 2001. For the first nine months of 2006,
operating income was $12.35m, compared to a loss of $13.1m last year.

Net income was $8.1m for Q3/2006, up from $2.6m a year ago. Excluding equity compensation expense, gross margin rose from 31.4% a year ago to 32.5%, mainly due to capacity utilization improvements.

Bookings in Q3/2006 were over $100m. Compared to the previous quarter, orders were stronger for military products but weaker for broadband and base-station products, said Quinsey. Nevertheless, for Q4/2006 TriQuint expects revenues to rise to $108-112m.