This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

RF Micro Swings to Loss, Beats Street

RF Micro Devices (RFMD) 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.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs