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10 July 2008

 

TriQuint lowers Q2 guidance from $130-135m to $120m

Based on preliminary results (excluding partial quarter results and accounting charges associated with the acquisition of WJ Communications of San Jose, CA), GaAs-based RF component maker and foundry services provider TriQuint Semiconductor Inc of Hillsboro, OR, USA has lowered its guidance for second-quarter 2008 revenue from $130-135m (up 17-22% from Q1) to about $120m (up 8%).

Slower-than-expected new product ramps and shipment timing issues combined to create lower-than-expected revenues, says the firm. Consequently, guidance for GAAP net income has also been lowered from $0.05-0.07 to $0.03-0.04 per diluted share. Gross margin is expected to be about 35%.

However, the book-to-bill ratio was very strong (at 1.3). Given the solid trend in bookings, third-quarter revenues is expected to be $150-160m, including about $10m from WJ (growth of 25-33% on Q2, excluding WJ).

TriQuint will announce second-quarter earnings on 23 July.

See related item:

TriQuint’s profits hit by military/network R&D costs

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