Financial Releases
RFMD(R) Launches Multi-Market Products Group
GREENSBORO, N.C., Nov. 14 /PRNewswire-FirstCall/ -- RF Micro Devices, Inc. (Nasdaq: RFMD), a global leader in the design and manufacture of high-performance radio frequency systems and solutions, announced today the establishment of the Multi-Market Products Group (MPG), following RFMD's successful completion of the acquisition of Sirenza Microdevices Inc., which was announced yesterday. MPG will be led by Bob Van Buskirk, former president and CEO of Sirenza. MPG joins the Cellular Handset Products Group (CPG), led by Eric Creviston, in reporting to Bob Bruggeworth, president and CEO of RFMD.
"We expect the formation of the Multi-Market Products Group will enable RFMD to significantly diversify its business and drive new, profitable growth opportunities beyond the cellular handset market," stated Bob Van Buskirk, president of MPG. "RFMD has a tremendous range of technologies, products and supply chain capabilities that MPG can leverage and deploy to better serve our broad base of multi-market end markets and global customers."
Selected examples of technology, products and supply chain benefits include:
-- The deployment of RFMD's high-performance gallium nitride (GaN)
semiconductor process technology into power amplifiers (PAs) for CATV
applications, power modules for revolutionary new light-generation
applications and PA modules for cellular infrastructure and emerging
WiMAX infrastructure applications
-- The re-deployment of existing cellular handset IP into a wide range of
broadband, consumer and wireless connectivity products
-- The addition of existing CPG products, currently incorporated into
highly integrated cellular handset RF solutions, to MPG's current,
industry-leading standard products portfolio, such as mixers, RF
switches, variable gain attenuators, control devices and PA ICs
-- Access to advanced technologies currently in development by RFMD,
including micro-electro-mechanical systems (MEMS), integrated RF
shielding, state-of-the-art multi-chip module (MCM) packaging and
advanced gallium arsenide (GaAs) semiconductor technologies, including
next-generation GaAs HBT and GaAs pHEMT
-- The realization of significant supply chain efficiencies, including
enhanced component and semiconductor wafer sourcing, cost-efficient IC
packaging from common suppliers and greatly improved R & D development
cycle times through RFMD's industry-leading, vertically integrated
wafer fabs, IC/module assembly facilities and test facilities
MPG will drive its business through five market-oriented business units:
-- Aerospace and Defense
-- Broadband and Consumer
-- Wireless Connectivity
-- Wireless Infrastructure
-- Standard RF Components
Each of MPG's five business units, and additional information regarding the anticipated benefits described above, will be discussed during RFMD's 2007 analyst day, which will begin at approximately 7:30 a.m. ET and will last until approximately 11:00 a.m. ET on Thursday, November 15. A simultaneous live broadcast of the event will be webcast over the Internet and will be available to any interested party at http://www.rfmd.com. The live webcast will be listen-only and will be archived for replay.
About RFMD: RF Micro Devices (Nasdaq GS: RFMD) is a global leader in the design and manufacture of high-performance radio frequency systems and solutions for applications that drive wireless and broadband communications. RFMD's cellular front ends, cellular transceivers, RF components and system- on-chip (SoC) solutions enable worldwide mobility, provide enhanced connectivity and support advanced functionality in the cellular handset, cellular base station, wireless local area network (WLAN), CATV networking, aerospace, defense, and global positioning systems (GPS) markets. Recognized for its diverse portfolio of state-of-the-art semiconductor technologies and vast RF systems expertise, RFMD is a preferred supplier to the world's leading mobile device and RF equipment manufacturers.
Headquartered in Greensboro, N.C., RFMD is an ISO 9001- and ISO 14001- certified manufacturer with worldwide engineering, design, sales and service facilities. RFMD is traded on the NASDAQ Global Select Market under the symbol RFMD. For more information, please visit RFMD's web site at 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, assembly facility and test and 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 and other reports 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® and RFMD® are trademarks of RFMD, LLC. All other trade names, trademarks and registered trademarks are the property of their respective owners.
SOURCE RF Micro Devices, Inc.
CONTACT: Dean Priddy, CFO, +1-336-678-7975, or Doug DeLieto, VP, Investor Relations, +1-336-678-7968, or Jerry Neal, Executive Vice President, +1-336-678-7001, all of RFMD