TriQuint Semiconductor Inc announces fourth-quarter earnings

e14news — Thu, 07 Oct 2021 07:58:15 GMT

Current Revision posted to Documents by e14news on 10/7/2021 7:58:15 AM
It has been confirmed that TriQuint Semiconductor Inc's fourth-quarter earnings more than doubled as revenue jumped by nearly one-third.

Despite this, the results still fell some way short of analysts' expectations.

And, on the back of the news, shares sunk by 13 per cent.

Furthermore, the company has forecast current-quarter earnings of 14 cents to 16 cents a share on revenue of $215 million (£133.8 million) to $225 million.

Meanwhile, analysts surveyed by Thomson Reuters expect 19 cents on $227 million.

Added to this, the firm said it sees full-year revenue up about 20 per cent, while analysts had forecast an increase of 17 per cent in revenue.

"With the world transitioning to a mobile Internet, I expect a strong market and see another solid growth year for TriQuint in 2011," remarked president and chief executive Ralph Quinsey.

TriQuint is a leading company in the production of high performance RF components for wireless communications.