(Corrects revenue figure in second paragraph, changing "billion" to "million.")
The Apple (AAPL - Get Report) partner, which reported first-quarter results after the market close, brought in revenue of $216.7 million, down from $224.3 million in the prior year's quarter, but above analysts' forecast of $214.68 million.
Excluding items, TriQuint earned 2 cents a share, down from 15 cents a share in the same period last year, and in line with Wall Street's estimate.For the second quarter, however, the company sees revenue between $170 million and $185 million and a loss of 10 to 15 cents a share. Analysts surveyed by Thomson Reuters were looking for sales of $222.95 million and earnings of 5 cents a share. Boosted by Apple's stellar second-quarter results on Tuesday, TriQuint shares had climbed 7.6% during Wednesday's regular trading, but plunged more than 13% to $4.78 after it reported its own numbers. In a statement, TriQuint CEO Ralph Quinsey blamed the weak guidance on a "challenging second quarter" in the mobile device market, citing the company's "largest customer." Quinsey, however, struck a bullish tone during a phone interview with TheStreet shortly after the results were announced. "We're going through a period in Q2 that's a dip," he said. "We expect to return to normal revenue levels in Q3 and have growth in the second half