1. kevinnugent's Avatar
    10-23-13 09:14 PM
  2. Elite1's Avatar
    Here's the article:
    Chipmaker TriQuint forecast weak revenue as BlackBerry dials down

    October 24, 2013, 10:22 am

    By Lehar Maan

    (Reuters) - TriQuint Semiconductor Inc forecast current-quarter results well below Wall Street expectations, partly due to lower revenue from embattled smartphone company BlackBerry Ltd .

    Shares of TriQuint, a maker of radio frequency chips that help connect cellphones to data and voice networks, fell 12.5 percent after the bell on Wednesday.

    TriQuint, whose rivals include RF Micro Devices Inc and Skyworks Solutions Inc , said it expects adjusted earnings of 12-14 cents per share on revenue of $260-$270 million (160.8-167 million pounds) for the fourth quarter.

    Analysts on average were expecting earnings of 19 cents per share on revenue of $280.5 million for the current quarter, according to Thomson Reuters I/B/E/S.

    TriQuint's products were used in smartphones made by Apple Inc and BlackBerry.

    When asked by an analyst on a post-earning conference call whether BlackBerry was the reason for the muted forecast for the current quarter, Chief Executive Ralph Quinsey said it was the case.

    "BlackBerry was a double-digit revenue customer in a peak quarter, but that has gone down to about mid-single digit in the most recent quarter," Quinsey said.

    Expectations have been high for TriQuint, mainly after the roll-out of new phones by Samsung Electronics <005930.KS> and Apple, Pacific Crest Securities James Faucette told Reuters, referring to the company's muted forecast.

    TriQuint joins Broadcom Corp , RF Micro Intel Corp and Texas Instruments Inc in unveiling disappointing quarterly forecasts over the past week.

    TriQuint reported a profit of $13.6 million, or 8 cents per share, for the third quarter, compared with a loss of $11.2 million, or 7 cents per share, a year earlier.

    Revenue rose 25 percent to $250.8 million, however, revenue in the network business declined 11 percent.

    "The decline in networks was largely driven by a reduction in our non-strategic foundry business," Quinsey said.

    The company also makes chips for wireless and wired broadband and telecommunications networks, which is its second-biggest revenue generator, accounting for 23 percent of the company's total revenue in 2012.

    Foxconn Technology Group, Apple's largest contract manufacturer, accounted for 35 percent of TriQuint's revenue.

    On an adjusted basis, the company's earnings were 16 cents per share.

    Analysts on average had expected earnings of 10 cents per share on revenue of $250.1 million.

    TriQuint shares closed at $8.31 on the Nasdaq on Wednesday.

    (Reporting by Lehar Maan & Aurindom Mukherjee in Bangalore; Editing by Maju Samuel)
    10-23-13 09:28 PM
  3. Elite1's Avatar
    Fixed the thread title for you.
    10-23-13 09:32 PM
  4. Houshinto's Avatar
    Not really in good faith to throw BlackBerry under the bus. It's not like blackberry did not want to sell lots of handsets either. Funny enough, Apple is one of their customers but I guess one would think they cushioned the blow.

    Hope that interview bites them back in the future.
    10-23-13 11:21 PM
  5. cgk's Avatar
    The two key bits are:

    Edward Snyder - Charter Equity Research
    So how is mobile shaping up for December, I mean in terms of your guidance are you looking at a little bit lighter, it sounds like?

    Steve Buhaly - Chief Financial Officer
    We are expecting growth in our revenue in Q4 and we are expecting growth from all of our major customers.

    Ralph Quincy - President and Chief Executive Officer
    Like some of our other friends in the business we do see some decline with the Blackberry business.

    Edward Snyder - Charter Equity Research
    Right, you are fairly large with Blackberry is that’s probably where you’re weakest, will that be fair to say in the December period. I mean we’ve heard…

    Ralph Quincy - President and Chief Executive Officer
    Yes, I think that’s the case.

    Edward Snyder - Charter Equity Research
    Okay and can you give us a feel for all or how much revenue you might be doing with them last say in the June period?

    Ralph Quincy - President and Chief Executive Officer
    So if you look to any particular quarter they have been in our top three or four customers this year and now they have really fallen off the map.

    Mike Walkley - Canaccord Genuity
    Thank you. Just to follow-up on some of the other questions, can you maybe help us size Blackberry for you in terms of how much they might be down sequentially just to get a feel for how that non-Blackberry customers are doing. I think we all know what’s going on with Blackberry right now?

    Ralph Quincy - President and Chief Executive Officer
    Yes, I would say that in a peak quarter that was a double digit customer and that’s ramped down to probably mid-single digit customer in the most recent quarter.
    I maintain my position that BBRY have effectively got out of handsets and this is a slow wind-down to prevent actual confirmation of the exit killing off handsets sales completely.
    kevinnugent likes this.
    10-24-13 07:29 AM

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