news digest ♦ RF Electronics
Net loss for the second quarter of 2013 was $10.9 million, or $(0.07) per share, improved sequentially from a net loss of $27.2 million or $(0.17) per share.
Outlook:
The company believes third quarter 2013 revenue will be between $245 million and $255 million and is currently 90 percent booked to the midpoint of this guidance.
GAAP results for H1 2013
Looking at the first half of the year, financials were not as good as for just the quarter. Revenues decreased by 5.4 percent from $394.7 million in H1 2012 to $374.3 million in H1 2013. For the same periods, operating income fared much worse, with losses increasing by 45 percent, while even worse, net losses increased by a massive 74 percent.
A graph below summarises the results for the first half of 2013 as compared to the first half of 2012.
Non-GAAP gross margin is expected to be between 34 percent and 36 percent, driven primarily by higher expected revenue. Third quarter non-GAAP net income is expected to be between $0.09 and $0.11 per diluted share. Solid results in the second quarter and our current expectation for the remainder of the year lead us to believe non-GAAP earnings of at least $0.05 per diluted share for fiscal 2013 is a reasonable expectation.
The company did not discuss its outlook based on GAAP measures.
TriQuint hosted a conference call discussing the results for the quarter and its future expectations for the company. The call can be heard via webcast accessed through the “Investors” section of TriQuint’s web site at:
http://invest.triquint.com.
Taking III-V growth into the
next dimension A new process enables the relatively inexpensive growth of III- Vs. The VLS process is claimed to enable similar optoelectronic properties to those obtained by III-Vs grown using MOCVD
Commenting on the results, Ralph Quinsey, President and Chief Executive Officer, stated, “It is an exciting time for TriQuint. Our results exceeded our April guidance, but more importantly, this marks the beginning of the next phase of growth at TriQuint. In Q3 2013, I expect revenue to jump 30 percent sequentially, bringing significantly improved margins and profitability. I believe Q3 is the beginning of a stronger period of performance for TriQuint, built on a differentiated strategy that is defensible and sustainable. Our strategic focus is on innovation, technology and a comprehensive RF capability. Our investments in proprietary GaN, BAW and advanced SAW are examples of where we set ourselves apart from the competition and I believe our Q3 outlook validates our path.”
Net loss for the second quarter of 2013 was $14.9 million or $(0.09) per share, compared with a net loss of $27.9 million, or $(0.17) per share, in the previous quarter.
Non-GAAP Results
Gross margin for the second quarter was 31.3 percent, up sequentially from 22.8 percent due to the absence of a now resolved Q1 quality issue, higher revenue, improved factory utilisation and better yields. Operating expenses for the quarter were $69.6 million, up 2 percent sequentially.
106
www.compoundsemiconductor.net August/September 2013
Engineers at the University of California, Berkeley, have developed an inexpensive new way to grow thin films of InP. This achievement could bring high-end solar cells within reach of consumer pocketbooks.
The work, led by Ali Javey, UC Berkeley associate professor of electrical engineering and computer sciences, is described in a paper published in Scientific Reports, Nature’s peer-reviewed open access journal. “Performance is everything in the solar cell industry, but performance at a reasonable cost is key,” says Javey, who is also a faculty scientist at the Lawrence Berkeley National Laboratory.
“The techniques we are reporting here should be a game- changer for III-V solar cells, as well as for LEDs.”
The most efficient photovoltaics are made from III-V compounds. However, the complex manufacturing requirements for III-V materials make them up to ten times more expensive than silicon. This limits their use in military applications and NASA satellites.
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