ࡱ>  ! l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~ ؈ ~~9#܈ ~~8#܈ ~~4#܈ ~~3#܈ ~~7#܈ ~~83ffff̙̙3f3fff3f3f33333f33 FORM 10Q Qorvo Inc Qorvo Inc (1)o+ SIGNATURESU; Balance SheetWIncome StatementmIncome Statement (1){ Cash FlowsB 3 INVENTORIES.Debt Securities&NOTES TO CONDENSED CONSOLIDATED&Recurring Fair Value Measuremen #6 DEBT&=NOTES TO CONDENSED CONSOLID (1)&NOTES TO CONDENSED CONSOLID (2)&NOTES TO CONDENSED CONSOLID (3)n 11 NET LOSS PER SHARE&KNOTES TO CONDENSED CONSOLID (4)&NFNOTES TO CONDENSED CONSOLID (5)CqStatement of Operations"ԍStatement of Operations (1)&;NOTES TO CONDENSED CONSOLID (6)&7NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedfMobile Products&Infrastructure and Defense Prod& OTHER EXPENSE INCOME AND INCOME%+Purchases of Equity Securities l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } $} 2       Qorvo, Inc. 10-Q 08/02/2018 FORM 10-Q   ?/ 'QUARTERLY REPORT PURSUANT TO SECTION 13 / 'OR 15(d) OF THE SECURITIES EXCHANGE ACT  OF 1934  /'For the quarterly period ended June 30,~  or ?-%TRANSITION REPORT PURSUANT TO SECTION2*13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934/'For the transition period from _____ to _____$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@D~rZeK=G*=PF0*8X> @" l  N  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } 6} $ } +       Qorvo, Inc. 10-Q 08/02/2018 Qorvo, Inc.    Delaware   46-52889925 -(State or other jurisdiction of incorporation , $(I.R.S. Employer Identification No.) or organization)   .&7628 Thorndike Road, Greensboro, NorthCarolina 27409-94210((Address of principal executive offices) (Zip Code)(336) 664-12331)(Registrant's telephone number, including area code)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:|pLa/S=1%=PF0*8X> @R  l  *  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } } } 6} !}        Qorvo, Inc. 10-Q 08/02/2018 Qorvo, Inc.     ! Large accelerated filer ? Accelerated filer ? Non-accelerated filer ?# Smaller reporting company ?! Emerging growth company ?  5 -(Do not check if a smaller reporting company)       / 'If an emerging growth company, indicate3+by check mark if the registrant has elected1)not to use the extended transition period7/for complying with any new or revised financial.&accounting standards provided pursuant/'to Section 13(a) of the Exchange Act. ?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8,|p4r=ymE=PF0*8X> @J   l  /7:  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } I;}  /      Qorvo, Inc. 10-Q 08/02/2018 SIGNATURES    Page& PART I - FINANCIAL INFORMATION   1 )Item 1. Financial Statements (Unaudited). -%Condensed Consolidated Balance Sheets~ .&as of June 30, 2018 and March 31, 2018,$Condensed Consolidated Statements of~ 2*Operations for the three months ended June!30, 2018 and July 1, 2017,$Condensed Consolidated Statements of~ /'Comprehensive Loss for the three months,$ended June 30, 2018 and July 1, 2017,$Condensed Consolidated Statements of~ 2*Cash Flows for the three months ended June!30, 2018 and July 1, 20171)Notes to Condensed Consolidated Financial~  Statements4,Item 2. Management's Discussion and Analysis~ f91of Financial Condition and Results of Operations.80Item 3. Quantitative and Qualitative Disclosures~ About Market Risk.Drl}qY=o=f3j'v !"#$%&'()*+,-.(  Item 4. Controls and Procedures.~ !!#"PART II - OTHER INFORMATION~ "##$Item 1A. Risk Factors.~ $7%/Item 2. Unregistered Sales of Equity Securities~ %&and Use of Proceeds .'Item 6. Exhibits.~ '(() SIGNATURES~ )*+$,____________________________1-)Created by Morningstar Document Research.0.(http://documentresearch.morningstar.com/"uya1`TH =PF0*8X> @..--,, l  >ITU  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURESIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } I;} $ >      Qorvo, Inc. 10-Q 08/02/2018 Balance Sheet           June 30, 2018  March 31, 2018 ASSETS    Current assets:   ! Cash and cash equivalents~ ^c  ~ V8 'Short-term investments (Note 5)~ j -.&Accounts receivable, less allowance of~ f~ 3+$148 and $134 as of June 30, 2018 and March31, 2018, respectivelyInventories (Note 3)~ *~ Prepaid expenses~ ~ uOther receivables~ H~ Other current assets~ ~ ~Total current assets~ jzS~ vp2*Property and equipment, net of accumulated~ 2S~ S1)depreciation of $950,018 at June 30, 2018&and $911,910 at March 31, 2018Goodwill~ ~ -%Intangible assets, net of accumulated~ Z,~ ‚4.&amortization of $1,844,821 at June 30,3+2018 and $1,711,520 at March 31, 2018 (Note~ &Long-term investments (Note 5)~ n~ VD lznN T;e0A !"#$%&'()*+,-./0123456789:;<= Other non-current assets~   ~ 2 ! Total assets~ !`!!~ !>!,"$LIABILITIES AND STOCKHOLDERS? EQUITY"""#Current liabilities:###$Accounts payable~ $` $$~ $& $%Accrued liabilities~ %'%%~ %:4 %!&Other current liabilities~ &&&~ &&!'Total current liabilities~ '''~ ''%(Long-term debt (Notes 6 & 13)~ (""((~ (<(*)"Deferred tax liabilities (Note 10)~ )D))~ ))#*Other long-term liabilities~ *Ro**~ *z8*+Total liabilities~ +eC++~ +b+,Stockholders? equity:,,,0-(Preferred stock, $.0001 par value; 5,000 ---- ---/.'shares authorized; no shares issued and/ outstanding40,Common stock and additional paid-in capital,~ 0>c;00~ 0v?041,$.0001 par value; 405,000 shares authorized;921125,598 and 126,322 shares issued and outstanding931at June 30, 2018 and March 31, 2018, respectively-4%Accumulated other comprehensive loss,~ 444~ 445 net of tax6Accumulated deficit~ 6Jq66~ 66"7Total stockholders? equity~ 7f77~ 72z#728*Total liabilities and stockholders? equity~ 8`88~ 8>89:$;____________________________1<)Created by Morningstar Document Research.0=(http://documentresearch.morningstar.com/@b DDP'PGa{_=PF0*8X> @===<<;;88887777666644440000----++++****))))((((''''&&&&%%%%$$$$!!!!       l  +g_k  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } a/} $ +                                  Qorvo, Inc. 10-Q 08/02/2018Income Statement            Three Months Ended    June 30, 2018   July 1, 2017 Revenue ~ F*  ~ '  Cost of goods sold ~   ~   Gross profit~ r~ fmOperating expenses: Research and development~ ~ N+#Selling, general and administrative~ K~ Other operating expense~ n~ R Total operating expenses~ 2~ : Loss from operations~ ~ .M!Interest expense (Note 6)~ ~ F@Interest income~  5~  Other expense (Note 6)~  ~ j Loss before income taxes~ >5~ Ҋ$Income tax benefit (Note 10)~ "~ Net loss~ ^+~ !&Net loss per share (Note 11) : BasicQοQοD lwktG .Q|@  ! " # $ % & ' ( ) *  Diluted  Qο   Qο !!!!!/"'Weighted average shares of common stock""""#outstanding (Note 11): $Basic$~ $ڳ$$~ $ƿ$%Diluted%~ %ڳ%%~ %ƿ%&'$(____________________________1))Created by Morningstar Document Research.0*(http://documentresearch.morningstar.com/i]{=PF0*8X> @R***))((%%%%$$$$          l  y  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome Statement Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } 8} $                                 Qorvo, Inc. 10-Q 08/02/2018Income Statement            Three Months Ended    June 30, 2018   July 1, 2017 Net loss ~ ^+  ~ ! * "Other comprehensive (loss) income:    1)Unrealized gain on marketable securities,~ ~  net of tax0(Foreign currency translation adjustment,~ n~  /'including intra-entity foreign currency7/transactions that are of a long-term investmentnature,$Reclassification adjustments, net of tax:.&Amortization of pension actuarial loss~ b~ )!Other comprehensive (loss) income~ ~ >  Total comprehensive loss~ > ~ ,$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@Dwkt5l11H<0=PF0*8X> @      l  ?׉  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } I;} $ ?      Qorvo, Inc. 10-Q 08/02/2018 Cash Flows          Three Months Ended   June 30, 2018   July 1, 2017- %Cash flows from operating activities:    Net loss~ ^+  ~ ! 0(Adjustments to reconcile net loss to net.&cash provided by operating activities: Depreciation~ ~ .-%Amortization and other non-cash items~ z$ ~ 3 (Notes 4 & 6)Deferred income taxes~ _~ "$Foreign currency adjustments~ ~ &4,Loss (gain) on investments and other assets,~ ~  net( Stock-based compensation expense~ F.~ J4,Changes in operating assets and liabilities: Accounts receivable, net~ ~  Inventories~ 1~ r.&Prepaid expenses and other current and~ FL~ non-current assets0(Accounts payable and accrued liabilities~ ~ *"Income tax (recoverable) / payable~ ~ Other liabilities~ ~ D l}qIk(H9q D& !"#$%&'()*+,-./0123456789:;<=>1 )Net cash provided by operating activities~   ~ RS !Investing activities:!!!*""Purchase of property and equipment~ "RW""~ "g"9#1Purchase of debt securities and other investments~ ### #-#5$-Proceeds from maturities of other investments~ $$$ $-$"%Other investing activities~ %x%%~ %m%-&%Net cash used in investing activities~ &I&&~ &&'Financing activities:''' (Payment of debt (Note 6)~ ( (( (-(-)%Repurchase of common stock, including~ )r))~ ). )"*transaction costs (Note 7)2+*Proceeds from the issuance of common stock~ +++~ +@+3,+Tax withholding paid on behalf of employees~ ,,,~ ,|,"-for restricted stock units".Other financing activities~ ... .-.-/%Net cash used in financing activities~ /f//~ //0000/1'Effect of exchange rate changes on cash~ 111~ 1 1.2&Net decrease in cash, cash equivalents~ 222~ 2^23and restricted cash-4%Cash, cash equivalents and restricted~ 4 844~ 4O!4+5#cash at the beginning of the period-6%Cash, cash equivalents and restricted~ 6h66~ 6*O6%7cash at the end of the period'8Non-cash investing information:88809(Capital expenditure adjustments included~ 9 )99~ 993:+in accounts payable and accrued liabilities;$<____________________________1=)Created by Morningstar Document Research.0>(http://documentresearch.morningstar.com/B XF\~ eXVB@w(}qI=PF0*8X> @B>>==<<99996666444422221111////....,,,,++++))))((((&&&&%%%%$$$$####""""        l  U  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash FlowsDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } 0} $       Qorvo, Inc. 10-Q 08/02/20183. INVENTORIES           June 30, 2018  March 31, 2018  Raw materials~ u  ~ ּ  Work in process~   ~ F   Finished goods~ e  ~ z Total inventories~ *~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|ym iWK?=PF0*8X> @j          l  *  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIES!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } U} $       Qorvo, Inc. 10-Q 08/02/2018Debt Securities                  Cost  Gross  Gross  Estimated Fair       Unrealized   Unrealized  Value      Gains  Losses  June 30, 2018       Auction rate securities~ z $-~  ^  ~  Commercial paper~ Z~   -  ~  j~ Ҩ~ ~  ^  ~  >March 31, 2018   Auction rate securities~ z $-~  V  ~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4xl04qk|=PF0*8X> @               l  ּ  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } } $       Qorvo, Inc. 10-Q 08/02/2018H@NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)                   June 30, 2018  March 31, 2018  Cost   Estimated  Cost   Estimated       Fair Value       Fair Value! Due in less than one year~ Z  ~ j   $-   $- Due after ten years~ z~ ~  z  ~   Total~ Ҩ~ >~  z  ~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.4k_SG;{0a =PF0*8X> @               l  +  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } $ } 0} $ +      Qorvo, Inc. 10-Q 08/02/2018)!Recurring Fair Value Measurements                      Total  Quoted Prices In  Significant Other          Active Markets For  Observable Inputs          Identical Assets   (Level 2)           (Level 1) June 30, 2018   Assets   Money market funds~ ~      $-+#Auction rate securities ("ARS") (1)~   -  ~  Commercial paper (2)~ j  -  ~  j/'Invested funds in deferred compensation~ *~  *    -plan (3)+#Total assets measured at fair value~ ~    ~  > Liabilities   -%Deferred compensation plan obligation~ *~  *    $-~ 0(Total liabilities measured at fair value~ *~  *    $-   March 31, 2018   Assets   Money market funds~ &~  &    $-#Auction rate securities (1)~   -  ~  /'Invested funds in deferred compensation~ 2~  2    -Dl~rfZIp(t( !"#$%&'()*   plan (3)!!!!+!#Total assets measured at fair value~ !"!!~ ! V! ! ~ ! !"" Liabilities""" " " ##-#%Deferred compensation plan obligation~ #2##~ # 2# #  # $-#$$~ $%%%%0%(Total liabilities measured at fair value~ %2%%~ % 2% %  % $-%&'$(____________________________1))Created by Morningstar Document Research.0*(http://documentresearch.morningstar.com/t=PF0*8X> @*E**))((%%%% %% $$###### ## ""!!!! !!                           l  d  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } %} $       Qorvo, Inc. 10-Q 08/02/20186. DEBT           June 30, 2018  March 31, 2018# 6.75% Senior Notes due 2023~ ~  ~   # 7.00% Senior Notes due 2025~ Rz!  ~ Rz! ' Less unamortized issuance costs~ V  ~ h Total long-term debt~ ""~ <$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/, |tb0$=PF0*8X> @j          l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } } $                            Qorvo, Inc. 10-Q 08/02/2018H@NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)            Three Months Ended    June 30, 2018   July 1, 2017 Revenue:      China ~ _  ~ V  Taiwan~ x ~  United States~ ʞ~ q Other Asia~ &~ >5 Europe~ a~ K Other~ R~ ^R Total Revenue~ F*~ '$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6Kk_SG;DAvRF:=PF0*8X> @      l   e  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } y#} $       Qorvo, Inc. 10-Q 08/02/2018H@NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)          Three Months Ended  June 30,  July 1, ~  ~  Revenue:    MP~ ~ ~ IDP~  ~ Z5  All other (1) -~ * Total revenue~ F*~ '%Income (loss) from operations MP~ Nq~ [ IDP~ ^~  All other~ ~ jLoss from operations~ ~ .MInterest expense~ ~ F@Interest income~  5~   Other expense~  ~ j Loss before income taxes~ >5~ Ҋ$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/D lk_SG;r>ikyb e=PF0*8X> @       l  =   dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } 1} $       Qorvo, Inc. 10-Q 08/02/2018H@NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)          Three Months Ended  June 30,  July 1, ~  ~ / 'Reconciliation of ?All other? category:   ( Stock-based compensation expense~ ~ )!Amortization of intangible assets~ &~ 1)Acquisition and integration related costs~ ~ Restructuring charges~ :~ Start-up costs~ >~ 0(Other (expense) income (including (loss)~ ~~ *.&gain on assets and other miscellaneouscorporate overhead),$Loss from operations for ?All other?~ ~ j$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<0k_SG;r>{8j8i=PF0*8X> @      l  4  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } 2} $       Qorvo, Inc. 10-Q 08/02/201811. NET LOSS PER SHARE          Three Months Ended   June 30, 2018   July 1, 2017  Numerator:   0 (Numerator for basic and diluted net loss~ ^+  ~ ! 0(per share - net loss available to common stockholders Denominator:0(Denominator for basic net loss per share~ ڳ~ ƿ!- weighted average shares&Effect of dilutive securities:Stock-based awards - -2*Denominator for diluted net loss per share~ ڳ~ ƿ.&- adjusted weighted average shares andassumed conversions Basic net loss per shareQοQο"Diluted net loss per shareQοQο$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/BX}qeX\uqRxl`8=PF0*8X> @      l  5Q2A  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } 2} $ 5      Qorvo, Inc. 10-Q 08/02/2018H@NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)                     - %Condensed Consolidating Balance Sheet   June 30, 2018 (in thousands) Parent Company  Guarantor Subsidiaries " Non-Guarantor Subsidiaries * "Eliminations and Reclassifications   Consolidated ASSETS         Current assets:   !Cash and cash equivalents $-~ ~  R    $-~ ^cShort-term investments -~ j  -    -~ j+#Accounts receivable, less allowance -~ Y~      -~ f2*Intercompany accounts and notes receivable -~ ~  c  ~   - Inventories -~ Vd ~  .  ~  ~ *Prepaid expenses -~  ~  v    -~ Other receivables -~ B~      -~ HOther current assets -~  ~       -~ Total current assets -~ ,~  R<  ~  :=~ jzS#Property and equipment, net -~ LB~  >  ~  ~ 2SGoodwill -~ VzD~  4@    -~ Intangible assets, net -~ V~  r    -~ Z,Long-term investments -~ ~  v    -~ n1)Long-term intercompany accounts and notes -~ bA~    ~   - receivable"Investment in subsidiaries~ 1{~    -  ~  & - Other non-current assets~ ~~ ~  ^  ~  ~ Dlk_SG;KyJk$TD_I !"#$%&'()*+,-./01234  Total assets~ NM  ~ 7  ~ *  ~ ޭ  ~ ` ,!$LIABILITIES AND STOCKHOLDERS? 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FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } 2} $ 4      Qorvo, Inc. 10-Q 08/02/2018H@NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)                     - %Condensed Consolidating Balance Sheet  March 31, 2018 (in thousands) Parent Company  Guarantor Subsidiaries " Non-Guarantor Subsidiaries * "Eliminations and Reclassifications   Consolidated ASSETS         Current assets:   !Cash and cash equivalents $-~  i&~  N    $-~ V8+#Accounts receivable, less allowance -~ ~  l    -~ 2*Intercompany accounts and notes receivable -~ f~  A  ~   - Inventories -~ np ~    ~  ~~ Prepaid expenses -~ ~  c    -~ uOther receivables -~ ]~  ^    -~ Other current assets -~ ~      -~ ~Total current assets -~ hH~  fW=  ~  N~ vp#Property and equipment, net -~ =B~    ~  ~~ SGoodwill -~ VzD~  4@    -~ Intangible assets, net -~  ~  a    -~ ‚4Long-term investments -~ ~  z    -~ V1)Long-term intercompany accounts and notes -~ ^&!~  :  ~  n - receivable"Investment in Subsidiaries~ Yz~ Ñ  -  ~  v - Other non-current assets~ f~ ~    ~  ~ 2 Total assets~ ~~~ ,~  s  ~  V~ >Dlk_SG;Kx;U$S{/C !"#$%&'()*+,-./0123, $LIABILITIES AND STOCKHOLDERS? EQUITY         !Current liabilities:!!!!! ! ! !!"Accounts payable "$-""~ """~ " <" "  " $-""~ "& "/#'Intercompany accounts and notes payable #-##~ #A##~ # f# # ~ # ## #-#$Accrued liabilities~ $h$$~ $.$$~ $ n$ $ ~ $ >$$~ $:4 $!%Other current liabilities %-%%~ %<%%~ % z% %  % -%%~ %%!&Total current liabilities~ &h&&~ &&t&&~ & & & ~ & &&~ &&'Long-term debt~ '<'' '-'' ' -' '  ' -''~ '<' (Deferred tax liabilities (-((~ (((~ ( ( ( ~ ( ((~ ((1))Long-term intercompany accounts and notes~ )n))~ ):))~ ) L) ) ~ ) n)) )-)*payable#+Other long-term liabilities +-++~ +F++~ + 6i+ +  + -++~ +z8+,Total liabilities~ ,NF[,,~ ,w,,~ , &, , ~ , ,,~ ,b,"-Total stockholders? equity~ -2z#--~ -B}--~ - Ñ- - ~ - ʆ--~ -2z#-2.*Total liabilities and stockholders? equity~ .~~..~ .,..~ . s. . ~ . V..~ .>./0$1____________________________12)Created by Morningstar Document Research.03(http://documentresearch.morningstar.com/, |d 'V & @332211...... .. ..------ -- --,,,,,, ,, ,,++++++ ++ ++)))))) )) ))(((((( (( (('''''' '' ''&&&&&& && &&%%%%%% %% %%$$$$$$ $$ $$###### ## ##"""""" "" ""                                       l  %T  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } *} $ %      Qorvo, Inc. 10-Q 08/02/2018Statement of Operations                     , $Condensed Consolidating Statement of 2 *Operations and Comprehensive (Loss) Income (  Three Months Ended June 30, 2018 (in thousands) Parent Company  Guarantor Subsidiaries " Non-Guarantor Subsidiaries * "Eliminations and Reclassifications   ConsolidatedRevenue $-~ (~  4&  ~  J~ F*Cost of goods sold -~  ~    ~  4~  Gross profit -~ r~  "3   ~  f~ rOperating expenses:    Research and development~ d~ >3~  @  ~  ~ +#Selling, general and administrative~ ~ ~  E  ~  ´~ KOther operating expense~ Z~ |~  z  ~  ~ n Total operating expenses~ J.~ 8~     ~  *~ 2%(Loss) income from operations~ ~ Q~  >  ~  >~ Interest expense~ $~ ~  ~  ~  ~ Interest income -~ %~  ~  ~  ~  5Other (expense) income~ ~ "~       -~  )!(Loss) income before income taxes~ ~ s~  >  ~  >~ >5Income tax benefit~ ~ ~  <    -~ "Income in subsidiaries~ ~   -  ~  w -Net (loss) income~ ^+~ Nw~    ~  ~ ^+   #Comprehensive (loss) income~ > ~ bw~    ~  ~ > Dl|pdt88o-X :[ !"#$ !$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/ P=PF0*8X> @[$$##""                                        l  %  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of Operations!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } *} $ %      Qorvo, Inc. 10-Q 08/02/2018Statement of Operations                     , $Condensed Consolidating Statement of ) !Operations and Comprehensive Loss ' Three Months Ended July 1, 2017 (in thousands) Parent Company  Guarantor Subsidiaries " Non-Guarantor Subsidiaries * "Eliminations and Reclassifications   ConsolidatedRevenue $-~ F~  *o#  ~  ~ 'Cost of goods sold -~ ; ~    ~   |~  Gross profit -~ 6^~  v   ~  ~ fmOperating expenses:    Research and development~ 2j~ ~    ~  ~ N+#Selling, general and administrative~ ~  ~    ~  ~ Other operating expense~ V~ Rn~    ~  ~ R Total operating expenses~ J~ j~~  j   ~  R~ : Loss from operations~ ~ ~  B  ~  :~ .MInterest expense~ E~ ~    ~  ~ F@Interest income -~ ~     ~  :~  Other (expense) income -~ ~  :  ~  ~ j Loss before income taxes~ ~ 2~  J  ~  ~ Ҋ$Income tax benefit (expense)~ ~ r~  j    -~ Loss in subsidiaries~ (~   -  ~  B -Net loss~ !~ RT~    ~  ~ !   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FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } I;} $ 0      Qorvo, Inc. 10-Q 08/02/2018H@NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)                     , $Condensed Consolidating Statement of   Cash Flows (  Three Months Ended June 30, 2018 (in thousands) Parent Company  Guarantor Subsidiaries " Non-Guarantor Subsidiaries * "Eliminations and Reclassifications   Consolidated0(Net cash provided by (used in) operating~ !~ n~  bD    $-~  activitiesInvesting activities:   *"Purchase of property and equipment -~ ~  ™    -~ RW91Purchase of debt securities and other investments -~   -    -~ 5-Proceeds from maturities of other investments -~   -    -~ "Other investing activities -~ ~  t    -~ x-%Net transactions with related parties -~ ~  -  ~  H -0(Net cash (used in) provided by investing -~ ~    ~  H~ I activitiesFinancing activities:   Payment of debt~   -  -    -~  -%Repurchase of common stock, including~ r -  -    -~ rtransaction costs2*Proceeds from the issuance of common stock~  -  -    -~ 3+Tax withholding paid on behalf of employees~  -  -    -~ "for restricted stock units"Other financing activities~  -  -    -~ Dlk_SG;K:\pJ !"#$%&'()*+,-./- %Net transactions with related parties -  ~ f  ~ "C  ~ ~   - 0!(Net cash (used in) provided by financing~ !f!!~ !f!!~ ! "C! ! ~ ! ~!!~ !f!" activities/#'Effect of exchange rate changes on cash #-## #-##~ # # #  # -##~ ##.$&Net decrease in cash, cash equivalents $-$$~ $g$$~ $ v$ $  $ -$$~ $$%and restricted cash-&%Cash, cash equivalents and restricted &-&&~ & i&&&~ & "& &  & -&&~ & 8&+'#cash at the beginning of the period-(%Cash, cash equivalents and restricted ($-((~ (((~ ( ( (  ( $-((~ (h(%)cash at the end of the period****** * * **+,$-____________________________1.)Created by Morningstar Document Research.0/(http://documentresearch.morningstar.com/$=,9#A_@_0M$l=PF0*8X> @*e//..--(((((( (( ((&&&&&& && &&$$$$$$ $$ $$###### ## ##!!!!!! !! !!                                    l  )x9  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } I;} $ )      Qorvo, Inc. 10-Q 08/02/2018H@NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)                     , $Condensed Consolidating Statement of   Cash Flows ' Three Months Ended July 1, 2017 (in thousands) Parent Company  Guarantor Subsidiaries " Non-Guarantor Subsidiaries * "Eliminations and Reclassifications   Consolidated0(Net cash provided by (used in) operating~ n5~ γ~  j    $-~ RS activitiesInvesting activities:   *"Purchase of property and equipment -~ ¦~      -~ g"Other investing activities -~ m~  f    -~ m-%Net cash used in investing activities -~ N~  v    -~ Financing activities:   -%Repurchase of common stock, including~ .  -  -    -~ . transaction costs2*Proceeds from the issuance of common stock~ @ -  -    -~ @3+Tax withholding paid on behalf of employees~ | -  -    -~ |"for restricted stock units-%Net transactions with related parties -~ f~      - -0(Net cash (used in) provided by financing~ ~ f~      -~  activities/'Effect of exchange rate changes on cash - -~       -~  91Net (decrease) increase in cash, cash equivalents -~ ~~  1    -~ ^and restricted cashDlk_SG;K;]97Q+KfPn !"#$%&'(- %Cash, cash equivalents and restricted -  ~ *   ~    -  ~ O! +!#cash at the beginning of the period"-#%Cash, cash equivalents and restricted #$-##~ ###~ # # #  # $-##~ #*O#%$cash at the end of the period%$&____________________________1')Created by Morningstar Document Research.0((http://documentresearch.morningstar.com/y=PF0*8X> @bL((''&&###### ## ##                                  l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7) ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } %} $       Qorvo, Inc. 10-Q 08/02/201813. SUBSEQUENT EVENTS          Actual   As Adjusted# 6.75% Senior Notes due 2023~ ~   $- # 7.00% Senior Notes due 2025~ Rz!  ~ * # 5.50% Senior Notes due 2026 -  ~  'Less unamortized issuance costs~ V~ ~Total long-term debt~ ""~ --$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.~rf^&=PF0*8X> @z         l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTSMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } *} $ }  } $}  $ } } $} $ } U} $       Qorvo, Inc. 10-Q 08/02/2018 Consolidated                       Three Months Ended  June 30,  % of  July 1,  % of  Increase (Decrease)   Percentage ~   Revenue ~   Revenue      Change Revenue~ F*  ~  % ~ '  ~  % ~ )   333333 @ %Cost of goods sold~ 33333sP@~    ̌O@ ~ n$ffffff)@ Gross profit~ rA@~ fm   33333sB@ ~ ? Research and development~ ~ B~ N   3333332@ ~ 333333+#Selling, general and administrative~ K333333@~    333335@ ~ NOther operating expense~ n?~ R   ? ~  333333$@Operating loss~ ffffff %~ .M   333333  %~ ~  %  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8 {osI*=PF0*8X> @"$                    l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS Consolidated!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } m)} $ } $} $ } $} $ } U} $       Qorvo, Inc. 10-Q 08/02/2018Mobile Products                   Three Months Ended* "(In thousands, except percentages)  June 30,  July 1,  Increase   Percentage  ~  ~       Change Revenue ~   ~ ~  ~    @ %Operating income~ Nq~ [ ~  R  ?*"Operating income as a % of revenueL2@ %3333333@ %      $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0xlv9q=PF0*8X> @          l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!OTHER EXPENSE INCOME AND INCOME Purchases of Equity SecuritiesU } m)} $ } $} $ } $} $ }  } $       Qorvo, Inc. 10-Q 08/02/2018+#Infrastructure and Defense Products                   Three Months Ended* "(In thousands, except percentages)  June 30,  July 1,  Increase   Percentage  ~  ~       Change Revenue ~    ~ Z5   ~ f   )@ %Operating income~ ^~  ~  W  &@*"Operating income as a % of revenue33333:@ %~ n %      $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0|pdXb%u a=PF0*8X> @          l  +  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod Purchases of Equity SecuritiesU } a} $                         Qorvo, Inc. 10-Q 08/02/2018/'OTHER (EXPENSE) INCOME AND INCOME TAXES            Three Months Ended (In thousands)  June 30,  July 1,  ~  ~  Interest expense ~   ~ F@ Interest income~  5~   Other expense~  ~ jIncome tax benefit~ "~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0xl`TYJ{oc;=PF0*8X> @        l  |9  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? FORM 10Q Qorvo Inc Qorvo Inc (1) SIGNATURES Balance SheetIncome StatementIncome Statement (1) Cash Flows 3 INVENTORIESDebt Securities!NOTES TO CONDENSED CONSOLIDATED!Recurring Fair Value Measuremen6 DEBT!NOTES TO CONDENSED CONSOLID (1)!NOTES TO CONDENSED CONSOLID (2)!NOTES TO CONDENSED CONSOLID (3)11 NET LOSS PER SHARE!NOTES TO CONDENSED CONSOLID (4)!NOTES TO CONDENSED CONSOLID (5)Statement of OperationsStatement of Operations (1)!NOTES TO CONDENSED CONSOLID (6)!NOTES TO CONDENSED CONSOLID (7)13 SUBSEQUENT EVENTS ConsolidatedMobile Products!Infrastructure and Defense Prod!OTHER EXPENSE INCOME AND INCOMEU } %} $ } U} $ } U} $ } :                         Qorvo, Inc. 10-Q 08/02/2018&Purchases of Equity Securities              Period 7 /Total number of shares purchased (in thousands) $ Average price paid per share 0 (Total number of shares purchased as part / 'Approximate dollar value of shares that         / 'of publicly announced plans or programs 8 0may yet be purchased under the plans or programs          (in thousands)' April 1, 2018 to April 28, 2018  -   $-   -   $162.1 million&April 29, 2018 to May 26, 2018~ p= #T@~     $1,000.0 million%May 27, 2018 to June 30, 2018~ j ,T@~  j    $935.9 million Total~ b)T@~  b   $935.9 million$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0 ui]HMA5 =PF0*8X> @b        Root Entry FBook  Q:  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~