RFMD® Shareholders Approve All Proposals During 2012 Annual Meeting of Shareholders
The proposals approved by RFMD shareholders included:
(1) Election of eight directors to serve a one-year term;
(2) Approved on an advisory, non-binding basis, the Company's executive compensation;
(3) Approved the 2012 Stock Incentive Plan;
(4) Approved the amendment to RFMD's Employee Stock Purchase Plan to increase the number of shares authorized for issuance; and
RFMD is a highly diversified supplier of RF components and compound semiconductor technologies. RFMD is delivering innovative, breakthrough products that reshape their respective product categories, including RFMD's switch-based products, RFMD's PowerSmart® power platforms, RFMD's ultra-high efficiency 3G and 4G power amplifiers, RFMD's high-performance WiFi front ends, and RFMD's high-power GaN technology.
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 operating results, risks associated with the impact of global macroeconomic and credit conditions on our business and the business of our suppliers and customers, our reliance on a few large customers for a substantial portion of our revenue, the rate of growth and development of wireless markets, our ability to bring new products to market, our reliance on inclusion in third party reference designs for a portion of our revenue, our ability to manage channel partner and customer relationships, risks associated with the operation of our wafer fabrication, molecular beam epitaxy, assembly and test and tape and reel facilities, our ability to complete acquisitions and integrate acquired companies, including the risk that we may not realize expected synergies from our business combinations, our ability to attract and retain skilled personnel and develop leaders, variability in production yields, raw material costs and availability, our ability to reduce costs and improve margins in response to declining average selling prices, our ability to adjust production capacity in a timely fashion in response to changes in demand for our products, dependence on gallium arsenide (GaAs) for the majority of our products, dependence on third parties, and substantial reliance on international sales and operations. 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 and statements 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 PowerSmart® are trademarks of
CONTACT: At RFMD(R)
Doug DeLietoVP, Investor Relations 336-678-7088
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