RF Micro Devices Inc., a Greensboro, N.C. supplier of radiofrequency ICs for wireless communications, announced it expects revenue, gross margin and earnings for its fiscal 2004 second quarter ending September to exceed the company's prior guidance provided in July.
The company has backlog to support a double-digit percentage sequential increase in September quarter revenue and anticipates net income to be at or slightly above breakeven. By comparison, RF Micro's previous forecast flat revenue in the low $130 million range and a quarterly loss of 4 to 5 cents per share.
Bob Bruggeworth, chief executive officer of RF Micro Devices said, "Customer activity has been robust, the product mix is improving and our internal gross margin improvement initiatives are tracking better than we originally anticipated. The revenue growth, improving product mix and cost reduction activities are all expected to have a favorable, incremental impact on gross margin and profitability."