This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

RF Micro Hit by Inventory

RF Micro Devices (RFMD - Get Report) says an inventory pileup will hurt numbers for fourth quarter ended March 31.

RF Micro shares dropped 8% after being halted briefly following the market's close Thusday.

The Greensboro, N.C., tech shop says it will lose between 8 cents and 9 cents a share on $150 million in sales. Analysts had been looking for a 2-cent-a-share loss on $153 million in revenue, according to a Reuters Research tally.

RF Micro blamed poor demand for three of its products, two that go into the guts of cell phones. The earnings warning from one of the biggest cell-phone component suppliers will likely raise concerns that wireless handset growth may be cooling off faster than expected.

"We are disappointed in our results for the quarter," CEO Bob Bruggeworth said in a press release Thursday, adding that "the company is positioned well for its upcoming fiscal year. The handset industry continues to adopt next-generation air interface standards."

On a brighter note, the company said that it will see sequential increases in sales and gross margins in the current quarter ending in June.

Late Thursday, RF Micro slipped 39 cents to $4.55.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,300.10 +108.73 0.63%
S&P 500 2,011.22 +9.06 0.45%
NASDAQ 4,654.7020 +16.7080 0.36%

Partners Compare Online Brokers

Free Reports

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