RF Micro Devices
posted a fourth-quarter loss wider than analysts expected on weaker sales to cell-phone makers.
Excluding charges of $45.8 million, the company on Tuesday reported a loss of $16.4 million, or 9 cents a share. On that basis, analysts polled by Thomson First Call expected a loss of 8 cents a share on sales of $151 million.
Including charges, the company's loss for the quarter ended March 31 was $62.2 million, or 33 cents a share, compared with a loss of $859,000, or break-even EPS.
Revenue for the quarter was $150.4 million, a drop of 8% vs. $163.4 million in the year-ago quarter and an 11% sequential decrease from $168.9 million in the previous quarter.
RF Micro attributed the decline in quarterly revenue primarily to smaller sales to handset manufacturers in Asia and the decline in the U.S. market for TDMA handsets.
The Greensboro, N.C., company, which makes circuits primarily for wireless communications products, such as phones and modems, and boasts
as its largest customer
warned earlier in April that it would 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.
Shares of RF Micro were recently down 13 cents after hours, or 3%, to $4.22. They closed the regular session off 9 cents to $4.35.