TriQuint Announces Second Quarter 2012 Results

TriQuint Semiconductor, Inc. (NASDAQ:TQNT), a leading RF solutions supplier and technology innovator, announces its financial results for the quarter ended June 30, 2012, including the following highlights:

• Revenue for the quarter was $178.0 million
• GAAP net loss for the quarter was $16.5 million, or $(0.10) per share
• Non-GAAP net loss for the quarter was $15.0 million, or $(0.09) per share
• Booked $13 million in orders for F-35 Lightning II Joint Strike Fighter and TPQ-53 Army radar
• Announced $12.3 million GaN DARPA contract to develop Ultra-Fast Power Switch technology
• Shipping MMPA & BAW content on new Galaxy* phone for Verizon
• Introduced industry's first 802.11ac Wi-Fi RF module for next-generation smartphones and tablets
• Closed major design wins in Fiber-to-the-Home and optical networks

Commenting on the results for the quarter ended June 30, 2012, Ralph Quinsey, President and Chief Executive Officer, stated, “TriQuint's second quarter performance was in line with expectations. Mobile devices demand was soft in the second quarter as the smartphone industry prepares for a seasonally strong second half, and our Defense and Networks revenue was slightly up year-to-date with a healthy outlook for the remainder of the year. We believe TriQuint is well positioned for revenue growth and improved financial performance in the second half of 2012.”

Summary Financial Results for the Three and Six Months Ended June 30, 2012:

Revenues for the second quarter of 2012 were $178.0 million, down 22% from the second quarter of 2011 and down 18% sequentially. Mobile Devices market revenue declined 24%, Networks declined 5% and Defense was consistent sequentially. Revenue for the six months ended June 30, 2012 was $394.7 million, down 13% from the six months ended July 2, 2011.

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