This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

RF Micro Swings to Loss, Beats Street

RF Micro Devices (RFMD - Get Report) swung to a loss in its fiscal first quarter, but still managed to beat Wall Street expectations.

Shares of RFMD were recently up 20 cents, or 6.9%, in recent extended trading to $3.11.

Three months after announcing a major restructuring that included pulling the plug on one of its main products, RFMD said it was ahead of schedule on many of its cost-cutting initiatives.

Excluding restructuring charges and other items, RFMD said its adjusted gross margin increased sequentially to 33% in the fiscal first quarter, vs. 30.6% in the fiscal fourth quarter.

The Greensboro, N.C., chipmaker said sales increased 14% year-over-year to $240.5 million. The average analyst expectation called for sales of $236.9 million.

The company said sales of its cellular front end components increased 10% sequentially, while sales of its communications chips designed for industrial, military and network infrastructure equipment jumped 20% sequentially.

RFMD posted a loss of $29.1 million, or 9 cents a share, vs. net income of $25.3 million, or 11 cents a share at this time last year.

The loss included $26.6 million in restructuring charges, as well as about $14 million in stock compensation expenses and other items. Excluding those charges, RFMD said it earned 3 cents a share, two pennies higher than the average analyst expectation.

Looking ahead, RFMD projected a revenue range of $250 million to $260 million, with adjusted EPS of roughly 5 cents. Analysts polled by Thomson Reuters were looking for $255 million in revenue with adjusted EPS of 5 cents.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
RFMD $16.59 -2.07%
TSLA $233.24 0.73%
YHOO $44.48 0.27%
AAPL $132.99 0.26%
FB $81.44 -0.57%


DOW 18,086.01 +48.04 0.27%
S&P 500 2,111.50 +2.58 0.12%
NASDAQ 5,064.4030 +4.1570 0.08%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs