TriQuint Semiconductor (TQNT) said Thursday its third-quarter profit more than tripled.
The Hillsboro, Ore.-based company earned $8.1 million, or 6 cents a share, compared with $2.6 million, or 2 cents a share, a year earlier. Excluding stock-option expenses, the company earned 7 cents a share. Analysts polled by Thomson First Call were estimating earnings of 7 cents a share for the most recent quarter.
Third-quarter revenue rose about 37% from a year ago, to $103.3 million.
The company expects to earn 5 cents to 7 cents a share for the third quarter. Excluding equity compensation expense charges, the company expects to earn 6 cents to 8 cents a share. Revenue for the fourth quarter is expected to be between $108 million to $112 million.
Analysts polled by Thomson First Call are estimating earnings of 8 cents a share on revenue of $110.5 million.
The company's book-to-bill ratio for the quarter ended Sept. 30 was 0.97 to 1.0 and represented more than $100 million in bookings.
"We set new revenue records in Q3 for both our transmit modules and our power amplifier modules as TriQuint continues to gain share with major handset manufacturers," the company said.
"Orders for 3G products were up 168% in Q3 over Q2. The broadband and base station products generated higher than expected revenues in the quarter offset by lower revenues from our foundry products. We saw stronger orders for military products and order softness for broadband and base station products as compared to the previous quarter."
The company's shares were trading down 31 cents, or 5.91%, at $4.93 Thursday.
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