news digest ♦ compound semiconductor ♦ financial news
For 2010, First Solar forecasts net sales of $2.5 to $2.6 billion, reflecting reallocation of module capacity from our systems business to meet stronger module demand by our European customers. Earnings per fully diluted share are increased to a projected range of $7.00 to $7.40 which includes a $0.20-$0.23 reduction for a foreign exchange assumption change from $1.30/euro to $1.20/euro and $0.09-$0.10 per share dilution for the completed acquisition of NextLight Renewable Power.
Total capital spending is projected to be $575 to $625 million. The company expects to generate $575 to $625 million of operating cash flow. First Solar has posted its Second Quarter Earnings Call
Presentation, which includes guidance for fiscal 2010 and additional details regarding the key assumptions relating to this guidance, in the Investor section of its website at http://www.
firstsolar.com.
First Solar discussed these results and the outlook for fiscal 2010 in a conference call last week.
A replay of the webcast is available on the Investor section on the Company’s website for approximately 90 calendar days. Subscribers of FactSet or Thomson One can obtain a written transcript within two hours.
RFMD Announces Shareholders Approval of Proposals & Dates of Investor Presentations
The firm’s stock purchase and incentive plans have been amended. The company will also present at the Oppenheimer & Co. Inc. Annual Technology and Morgan Keegan Technology Conferences on 10 and 11 Aug respectively.
RF Micro Devices, a global provider of high- performance radio frequency components and compound semiconductor products, has announced that all agenda items at its 2010 Annual Meeting of Shareholders were approved by the shareholders.
The proposals approved by RFMD shareholders were:
(1) Election of eight directors to serve a 194
www.compoundsemiconductor.net August/September 2010
Amendment of the Employee Stock Purchase Plan to increase the number of shares authorized for issuance (3) Amendment of the 2003 Stock Incentive Plan to increase the number of shares authorized for issuance and approval of certain terms designed to preserve the tax deductibility of certain compensation paid under the 2003 Stock Incentive Plan, pursuant to the provisions of Section 162(m) of the Internal Revenue Code of 1986, as amended (4) Ratification of the appointment of Ernst & Young LLP as RFMD’s independent registered public accounting firm for the fiscal year ending April 2, 2011
one-year term (2)
RFMD is experiencing strength in its addressed markets driven by momentum across cellular, fixed broadband, wireless infrastructure, smart energy and other high- growth semiconductor applications.
On July 27, 2010, the firm announced a fifth consecutive quarter of sequential revenue growth and fourth consecutive quarter of record operating income.
RFMD is forecasting year-over-year revenue growth in fiscal 2011, supporting double-digit growth in earnings per share and continued strong free cash flow (net cash provided by operating activities during the period minus property and equipment expenditures made during the period).
RFMD company executives are scheduled to present at two upcoming investor
IPG Share Price Shoots Up 20% Since Q2 Y 2010 Release
The strong financial results are mainly due to high demand for laser products and increased business with China, with the current share price hitting almost $20.
Since IPG Photonics reported its financial results on 3 August for the second quarter of fiscal 2010 ended June 30, the share price has risen at start of
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