Financial Releases
RFMD® Named to Premier NASDAQ Global Select Market; New Listings Market Has Highest Qualification Standards in the World
"We're pleased to be added to the more exclusive NASDAQ Global Select Market listing," said Bob Bruggeworth, RFMD's President and CEO. "We expect our inclusion in this new top-tier listing will increase our market visibility as we continue to execute on our strategic growth plan and increase our semiconductor content in cellular handsets and other mobile devices."
Companies listed on the new NASDAQ Global Select Market must still meet NASDAQ's existing high corporate governance standards. As a result, they must, among other things, have a majority independent board and an independent audit committee, and independent directors must participate in determining executive officer compensation and the nominees to serve on the board of directors.
"Qualifying for this new listings market is a mark of achievement, leadership and stature for companies," said Bruce Aust, Executive Vice President, Corporate Client Group, NASDAQ. "RFMD is an example of an industry leader that has achieved superior listing standards. In recognizing RFMD, we are highlighting its achievement in meeting these stringent requirements to be included in the market with the highest listing standards in the world," added Mr. Aust.
NASDAQ-listed companies will be grouped under three new tiers -- the NASDAQ Global Select Market, the NASDAQ Global Market(SM) and the NASDAQ Capital Market(SM). While the NASDAQ Global Select Market is a new market classification based on more stringent financial initial listing qualifications, the NASDAQ Global Market (formerly the NASDAQ National Market®) maintains its current listing standards and was renamed to more accurately reflect the international reach and leadership of the overall spectrum of NASDAQ-listed companies and the NASDAQ market. The NASDAQ Capital Market®, formerly the NASDAQ SmallCap Market(SM), was renamed in 2005. All three market tiers will maintain rigorous listing and corporate governance standards.
RFMD was previously listed on the NASDAQ National Market (now renamed the NASDAQ Global Market). Following its move to the NASDAQ Global Select Market, there will be no functional difference between how RFMD securities were traded on the NASDAQ National Market and how they will be traded on the NASDAQ Global Select Market. For additional information about the NASDAQ Global Select Market, please go to: www.nasdaq.com/GlobalSelect.
About RFMD
RF Micro Devices, Inc. (NASDAQ:RFMD) is a global leader in the design and manufacture of high-performance radio systems and solutions for applications that drive mobile communications. RFMD's power amplifiers, transmit modules, cellular transceivers and system-on-chip (SOC) solutions enable worldwide mobility, provide enhanced connectivity and support advanced functionality in current- and next-generation mobile handsets, cellular base stations, wireless local area networks (WLANs), wireless personal area networks (WPANs) and global positioning systems (GPS). Recognized for its diverse portfolio of state-of-the-art semiconductor technologies and vast RF systems expertise, RFMD is a preferred supplier enabling the world's leading mobile device manufacturers to deliver advanced wireless capabilities that satisfy current and future market demands.
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 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.
CONTACT: RF Micro Devices, Inc.
Jerry Neal or Doug DeLieto, 336-664-1233
SOURCE: RFMD