TriQuint, Lifted by Mobile Devices, Beats
HILLSBORO, Ore. (
) -- Citing a huge uptick in revenue culled from mobile devices, semiconductor specialist
TriQuint
(TQNT)
beat analysts' estimates in its fourth-quarter results, and gave bullish first-quarter guidance.
The company reported revenue of $193.3 million after market close, up 30% from the same period last year, and above analysts' forecast of $188.31 million. Excluding items, TriQuint earned 14 cents a share. Analysts surveyed by Thomson Reuters had predicted earnings of 13 cents a share.
TriQuint, which
competes with
RF Micro Devices
(RFMD)
and
Skyworks Solutions
(SWKS) - Get Report
, expects first-quarter revenue between $170 million and $175 million, compared to Wall Street's forecast of $168.56 million. Excluding items, the company expects earnings between 8 cents a share and 10 cents a share. Analysts had predicted earnings of 7 cents a share.
In a statement, TriQuint explained that its fourth-quarter revenue from mobile devices grew 55% year-over-year and 15% sequentially.
For the full year, the company expects revenue growth of about 20% after reporting fiscal 2009 sales of $654.3 million, up 14% on the prior year.
-- Reported by James Rogers in New York
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