September 10, 2001 – Greensboro, NC – RF Micro Devices Inc., provider of proprietary radio frequency integrated circuits for wireless communications applications, said it expects financial results for its 2Q01 ending September 30, will significantly exceed previously announced forecasts.
Management currently estimates that customer shipments to date and remaining backlog for its September 2001 quarter will support sequential revenue growth of approximately 30% and generate revenues of approximately $91 million. Also, management currently anticipates these revenues will produce break-even financial results.
By comparison, on July 17, 2001, the company indicated in its 1Q01 financial results press release that it believed sequential revenue growth in the September 2001 quarter would be approximately 10% and that the net loss per share for the quarter would be approximately ($0.03). The company’s revenues for the June 2001 quarter were approximately $70.1 million.
The increase in anticipated revenues is due primarily to increased orders placed during the September 2001 quarter for both microwave monolithic integrated circuit (MMIC) and module products.