Financial Releases
RFMD Comments On Growth Outlook At JPMorgan Technology Conference
Company Anticipates Continued Market Share Gains and Increasing Dollar Content In Cellular Handsets
SAN FRANCISCO, May 24 /PRNewswire-FirstCall/ -- RF Micro Devices, Inc. (Nasdaq: RFMD), a leading provider of proprietary radio frequency integrated circuits (RFICs) for wireless communications applications, commented on the Company's growth opportunities during a webcast investor presentation yesterday at the 34th Annual JPMorgan Technology Conference in San Francisco.
During the conference, Bob Bruggeworth, president and chief executive officer, and Dean Priddy, chief financial officer, discussed the strength of the cellular handset market as well as the Company's prospects for continued growth. They commented that the handset market is strong and that handset market share continues to be consolidated among RFMD's top customers. The Company continues to anticipate robust growth in the handset market, driven by developing markets as well as upgrades to higher data rate phones, such as WCDMA and EDGE, in developed markets.
RF Micro Devices expects that it will continue to increase its dollar content in cellular handsets as a result of share gains in POLARIS TOTAL RADIO transceiver solutions, transmit modules and complementary wireless products, such as WLAN, GPS and Bluetooth® solutions. The Company has achieved seven consecutive quarters of sequential growth in its transceiver business and continues to expect that quarterly shipments of POLARIS transceiver solutions will increase sequentially throughout the year.
The Company also anticipates improving profitability in fiscal 2007 as compared to fiscal 2006 due to several key initiatives, including revenue growth in excess of expense growth, increased internal GaAs pHEMT production, increased internal assembly and increased sales of higher margin complementary wireless products.
An archived replay of the presentation will be available in approximately one week on the "RFMD Conference Calls" web page at the following URL: http://phx.corporate-ir.net/phoenix.zhtml?c=95468&p=irol-audioarchives
About RF Micro Devices
RF Micro Devices, Inc., an ISO 9001- and ISO 14001-certified manufacturer, designs, develops, manufactures and markets proprietary radio frequency integrated circuits (RFICs) for wireless communications products and applications. The Company is a leading supplier of power amplifiers, one of the most critical radio frequency (RF) components in cellular phones. The Company is also the leading manufacturer of GaAs HBT, which offers distinct advantages over other technologies for the manufacture of current- and next- generation power amplifiers. The Company's products are included primarily in cellular phones, base stations, wireless local area networks (WLANs), cable television modems and global positioning systems (GPS). The Company derives revenue from the sale of standard and custom-designed products. The Company offers a broad array of products including amplifiers, mixers, modulators/demodulators and single-chip transmitters, Bluetooth® products and receivers and transceivers that represent a substantial majority of the RFICs required in wireless subscriber equipment. The Company's goal is to be the premier supplier of low-cost, high-performance integrated circuits and solutions for applications that enable wireless connectivity. RF Micro Devices, Inc. is traded on the Nasdaq National Market under the symbol RFMD. For more information about RFMD, please visit http://www.rfmd.com .
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions and are not historical facts and typically are identified by use of terms such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue" and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements included herein represent management's current judgment and expectations, but our actual results, events and performance could differ materially from those expressed or implied by forward-looking statements. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as is required under the federal securities laws. RF Micro Devices' business is subject to numerous risks and uncertainties, including variability in quarterly operating results, the rate of growth and development of wireless markets, risks associated with the operation of our wafer fabrication facilities, molecular beam epitaxy facility, our assembly facility and our test, tape and reel facilities, our ability to attract and retain skilled personnel and develop leaders, variability in production yields, our ability to reduce costs and improve gross margins by implementing innovative technologies, our ability to bring new products to market, our ability to adjust production capacity in a timely fashion in response to changes in demand for our products, dependence on a limited number of customers and dependence on third parties. These and other risks and uncertainties, which are described in more detail in RF Micro Devices' most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, could cause actual results and developments to be materially different from those expressed or implied by any of these forward- looking statements.
RF MICRO DEVICES®, RFMD® and POLARIS TOTAL RADIO are trademarks of RFMD, LLC. BLUETOOTH is a trademark owned by Bluetooth SIG, Inc., U.S.A. and licensed for use by RF Micro Devices, Inc. All other trade names, trademarks and registered trademarks are the property of their respective owners.
SOURCE: RF Micro Devices, Inc.
CONTACT: Dean Priddy, Chief Financial Officer, +1-336-931-7975, Doug DeLieto, VP, Investor Relations, +1-336-678-5091, both of RF Micro Devices; Joseph Calabrese of the Financial Relations Board for RF Micro Devices, +1-212-827-3772