Boston, MA 10\/24\/2013 (wallstreetpr) –\u00a0RF Micro Devices, Inc. (NASDAQ:RFMD) announced very good quarterly report on October 22, 2013 after the markets closed. The company reported that revenues rose to $310.90 million for the quarter, a rise of 48.2% as compared to the revenues of\u00a0 $210 million for the same quarter last year. The revenues also managed to beat the analysts\u2019 expectation of $308.23 million. The company swung to profits after declaring earnings of $5.90 million as compared to a loss of $16.50 million for the same period last year. \u00a0The earnings translate to $0.12 per share as compared to $0.03 for the same period last year.<\/p>\n
The company was relying heavily on Nokia Corporation (ADR) (NYSE:NOK) for its revenues in the past. With the troubles in Nokia still not over, analysts had expected the company to concentrate on Apple Inc (NASDAQ:APPL) and Samsung. The company was successful in increasing its content in the smartphone segment. RF Micro Devices is also in a good position to take advantage of the shift from entry level smartphones to voice-centric 2G and entry level 3G devices. The company was also able to take advantage of the growing demand for broadband connectivity. Samsung now accounts for 22% of the company\u2019s revenues. RF Micro is expected to benefit from the roll-out of high-end phones from both Samsung and Apple. The efforts of the diversification drive appear to be paying off with the company recording margin expansion and operating leverage. The Multi-Market Products group contributed to a revenue rise of 12%. \u00a0The company expects to see a decline in revenues from this business for the current quarter. This is a seasonal phenomenon as cable TV network build-outs slow down in the winter months. The company\u2019s guidance for the quarter ending December 2014 was weak. The company expects revenues of $311 million to $326 million with earnings in the range of $0.13 to $0.14. The weaker guidance made the investors jittery and they dumped the company\u2019s stock. The share prices were down by 8.60% to $5.63 at the end of trading on October 23, 2014.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 10\/24\/2013 (wallstreetpr) –\u00a0RF Micro Devices, Inc. (NASDAQ:RFMD) announced very good quarterly report on October 22, 2013 after the markets closed. The company reported […]<\/p>\n","protected":false},"author":13,"featured_media":11100,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[152,1586,3646,1002,3295,340,3409,2817,672,3645,3294,491],"stock_ticker":[],"class_list":["post-11099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-aapl","tag-apple-inc","tag-apple-inc-nasdaqappl","tag-nasdaqaapl","tag-nasdaqrfmd","tag-nok","tag-nokia-corporation-adr","tag-nokia-corporation-adr-nysenok","tag-nysenok","tag-rf-micro-devices-inc","tag-rf-micro-devices-inc-nasdaqrfmd","tag-rfmd","entry"],"acf":[],"yoast_head":"\n