SAN FRANCISCORival RF chip vendors Avago Technologies Ltd. and TriQuint Semiconductor Inc. Wednesday (Feb. 24) reported gains in sales and profit for their most recently concluded quarters.
Avago (Singapore) reported sales of $456 million for the quarter ended Jan. 31, up 7 percent from the previous quarter and up 24 percent from the year-ago quarter. The company recorded a net income for the quarter of $38 million, or 16 cents per diluted share, compared with a net loss in the prior quarter and a net income of $6 million, or 3 cents per diluted share, in the year-ago quarter.
Avago said it achieved the fiscal first quarter profit despite a $24 million charge for extinguishment of debt.
For the current quarter, Avago said it expects revenue to increase 6 to 9 percent.
Avago also said it would need to right down deferred tax assets of $6 million in the second quarter of fiscal 2010 as the result of being granted a 10-year tax holiday on qualifying income by the Malaysian government.
TriQuint (Hillsboro, Ore.) reported sales for the fourth quarter of $193.3 million, up 12 percent compared with the prior quarter and up 30 percent compared with the year-ago quarter. The company notched a profit for the period of $17.5 million, up 67 percent compared with the prior quarter. TriQuint had recorded a loss in the year-ago quarter.
For the full year 2009, TriQuint reported sales of $654.3 million, up 14 percent compared with 2008. The company posted a net income for the year of $16.6 million, compared with a loss of $13.9 million in 2008.
"TriQuint found opportunity in the economic challenges of 2009, generating great results in Q4 and a solid year of strategic and financial progress," said Ralph Quinsey, TriQuint's president and CEO, in a statement.
TriQuint said it expects revenue for the first quarter of 2010 to be between $170 million and $175 million. For the full year, the company said it expects revenue growth of about 20 percent.