Qorvo, Inc. Revises Earnings Guidance for the Third Quarter Ended January 2, 2016; Provides Revenue Guidance for the Fourth Quarter and Full Year Ended March 2016
January 07, 2016 at 04:15 pm EST
Share
Qorvo, Inc. revised earnings guidance for the third quarter ended January 2, 2016. The company announced it expects revenue and earnings for its fiscal 2016 third quarter will be lower than it previously estimated. The company currently expects its December quarterly revenue will be approximately $620 million, versus its original guidance of $720 million to $730 million. The revenue decline is the result of weaker than forecasted customer demand in the company's mobile products segment.
The company provided revenue guidance for the fourth quarter and full year ended March 2016. For the March 2016 quarter, the company currently expects quarterly revenue to be approximately flat sequentially.
For the fiscal 2016, the company currently expects above-market revenue growth, based upon customer forecasts and existing customer design wins at the company's customers.
Qorvo, Inc. specializes in the design, production and marketing of radio-frequency components and solutions. In particular, the group makes power amplifiers, embedded modules, selector switches, duplexers, power management devices, wireless connection solutions, frequency convertors, oscillators, couplers and optical components.
Net sales break down by activity as follows:
- mobile terminals and electronic devices (76.3%);
- defense and aeronautics equipment, network infrastructures (23.7%).
At the end of March 2022, the group had 7 production sites located in the United States (3), China (2), Costa Rica and Germany.
Net sales break down geographically as follows: the United States (41.5%), China (32.3%), Taiwan (7.4%), Asia (13.4%) and Europe (5.4%).
Qorvo, Inc. Revises Earnings Guidance for the Third Quarter Ended January 2, 2016; Provides Revenue Guidance for the Fourth Quarter and Full Year Ended March 2016
QORVO, INC. 
