Update 1- TriQuint Q1 results meets Street, sees weak Q2

Wed Apr 27, 2011 5:34pm EDT

* . Q1 adj EPS $0.15 vs est $0.15

* . Q1 rev $ 224.3 mln vs est $ 224.3 mln

* . Sees Q2 adj EPS $0.16-$0.18 vs est $0.21 (Follows alerts)

April 27 (Reuters) - TriQuint Semiconductor Inc's first-quarter earnings met analysts' expectations, helped by strong demand in the smartphone market, but the wireless communications products supplier forecast lower-than-expected second-quarter earnings.

The company, which makes integrated circuits used in aerospace, automotive, radar and cable TV, expects second-quarter earnings of 16-18 cents per share on revenue of $230-$240 million.

Analysts on average were expecting earnings of 21 cents a share, on revenue of $241.27 million, according to Thomson Reuters I/B/E/S.

The company's January-March net income fell to $12.4 million, or 7 cents per share, from $ 13.7 million, or 9 cents per share, last year.

Excluding items, the company earned 15 cents a share.

Revenue rose 24 percent to $224.3 million.

Analysts on average were expecting earnings of 15 cents a share, on revenue of $224.3 million, according to Thomson Reuters I/B/E/S.

The company said its mobile devices quarterly revenue increased 41 percent.

Shares of the company closed at $13.48 down 0.6 percent on Wednesday on Nasdaq. (Reporting by Rachana Khanzode in Bangalore; Editing by Jarshad Kakkrakandy)

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