virtually broke even in the first quarter, improving on a year-ago loss of about $16.5 million, as brisk sales of its products for base stations, wireless networks and optical networks lifted revenue about 25%.
TriQuint earned $2,000, or nothing per share, on revenue of $89.9 million in the latest quarter, compared with a loss of $16.5 million, or 12 cents a share, on revenue of $71.7 million a year ago.
Analysts surveyed by Thomson First call were forecasting a loss of 1 cent a share on revenue of $86.1 million. Triquint also guided second-quarter revenue higher, saying it expects its top line to range from $90 million to $92 million, compared with analysts estimates of $88.2 million. The company expects its bottom line to range from a loss of 1 cent a share to net income of 1 cent a share in the quarter. Analysts had forecast break-even.
For the full year, TriQuint expects revenue of $365 million to $375 million, up from its previous forecast of $340 million to $355 million. Analysts surveyed by Thomson First Call had been forecasting revenue of $363.6 million.
Triquint said gross margin in its latest quarter was 32.8%. The company posted operating income of $1.1 million in the quarter, compared with an operating loss of $15.1 million.