Oct 23 Chipmaker RF Micro Devices Inc
reported a quarterly profit that topped analysts' estimates and
forecast a strong third quarter, as demand for high-speed mobile
devices continue to surge, sending its shares up as much as 13
percent in trading after the bell.
"In the December quarter, we expect robust sequential growth
in 3G/4G components across a broad set of products and
customers," Chief Executive Bob Bruggeworth said in a statement.
RF Micro -- which supplies cellular radio frequency chips
for use in mobile devices like handsets, notebooks and tablets
-- forecast third-quarter adjusted earnings of about 6 cents per
share on revenue of about $245 million.
Analysts were looking for earnings of 3 cents per share on
revenue of $217.8 million, according to Thomson Reuters I/B/E/S.
For the second quarter, net loss was $16.5 million, or 6
cents per share, compared with a profit of $14.3 million, or 5
cents per share, a year earlier.
Excluding items, the company earned 3 cents per share,
beating Wall Street expectations by 2 cents.
Revenue fell 14 percent to $209.7 million, but still came
way above the $198 million mark set by analysts.
Shares of the company rose to $4.39 in extended trading on
Tuesday. They closed at $3.93 on the Nasdaq.