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RF Micro forecasts robust quarter; shares soar
October 23, 2012 / 9:06 PM / 5 years ago

RF Micro forecasts robust quarter; shares soar

Oct 23 (Reuters) - 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.

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