Wireless chipmaker RF Micro Devices (RFMD) guided up for its first quarter, citing stronger-than-expected demand for cell-phone parts.
The Greensboro, N.C., tech shop says revenue for the quarter ended June 30 will probably total $164.3 million, not including a $5 million charge for an order cancellation. Analysts were looking for a top line of $156 million for the quarter, according to Thomson First Call.
The company gave no specific earnings guidance for the quarter but did say that its gross margin will improve sequentially over the previous period ended in March.
Wireless industry observers are likely to view the upside surprise as further evidence that cell-phone sales continue to surge worldwide. RF Micro supplies components to nearly all the major handset makers, including
Shares of RF Micro rose a dime to $5.65 in premarket trading amid a widespread selloff in the wake of
terrorist bombings in London Thursday.
RF Micro expects to post its quarterly financial report on July 26.