SAN FRANCISCOChipmaker RF Micro Devices Inc. (RFMD) reported a GAAP net loss of $49.4 million on revenue of $172.3 million for the fourth quarter of fiscal 2009, which closed March 28, the company said Tuesday (April 28).
Revenue for the quarter was down about 15 percent compared to the previous quarter and 22 percent compared to the fourth quarter of fiscal 2008, RFMD (Greensboro, N.C.) said.
The GAAP net loss of $49.4 million narrowed 94 percent compared to the GAAP net loss of $813.3 million that RFMD reported for the third quarter of fiscal 2009, but increased more than 186 percent compared to the $17.2 GAAP net loss the company logged in the fourth quarter of fiscal 2008.
RFMD said it believes excess customer inventories were reduced in the March quarter and demand activity has stabilized. The company said it is currently booked for sequential growth in the June quarter and expects to outpace the rate of growth of its primary markets during the same period.
The company said it expects to breakeven on a non-GAAP basis, excluding charges, during the June quarter after posting a non-GAAP operating loss of $21.4 million for the March quarter.