GREENSBORO, N.C.—RF Micro Devices Inc. released revised guidance for the current quarter ended June 30, 2002.
The company now expects revenues to range from $98 million to $101 million and no earnings per share. Previous guidance called for revenues between $107 million and $110 million, with earnings per share of 2 cents to 3 cents. Although revised earnings are down from previous expectations, the company still expects to beat the year ago quarter’s earnings in which revenues were $70.1 million and loss per share was 5 cents.
The company blamed the lowered expectations primarily on delays in orders that it expected to ship this quarter. According to RFMD, “these push-outs are related mainly to the timing of introductions of certain new handset models that have been delayed by factors beyond RFMD’s control.”
The company also said it is optimistic that gains in market share driving future revenue growth and is encouraged by its continual growth in WLAN products.
