RF Micro Devices
said first-quarter revenue fell from the prior year, but the company offered a forecast that would be above analysts' expectations.
Revenue for the fiscal first quarter was $159.4 million, down 3.9% from $165.8 million a year ago, the Greensboro, N.C., company said Tuesday. When results are calculated in accordance with generally accepted accounting principles, RF lost $2.7 million, or 1 cent a share, compared with a profit of $3 million, or 2 cents a share, for the year-ago quarter.
Excluding items, the maker of radio frequency integrated circuits would have earned $2.8 million, or 1 cent a share, vs. income of $13.7 million, or 6 cents a share, a year earlier.
RF said it "is enthusiastic about its wireless end-markets and continues to experience strength in customer demand." The company believes revenue in the quarter ending Sept. 30 will be in the low-to-mid $170 million range. RF expects to have a profit of 2 cents to 3 cents before certain items.
Analysts surveyed by Thomson First Call were looking for a loss of 2 cents a share and revenue of $159.6 million for the first quarter. The consensus estimates are for a profit of 1 cent and a top line of $171.8 million for the fiscal second quarter.
Shares of RF were selling off in extended trading and were lately down 27 cents, or 4%, to $6.07.