RF Micro Devices Shrinks its Quarterly Financial Losses

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RF Micro Devices has reported that its fiscal 2013 third quarter revenues rose by 20% to reach USD271.2 million while the net loss shrank to USD1.4 million compared to a loss of USD9.4 million a year ago.

The sequential revenue growth reflected broad-based growth in RFMD's Cellular Products Group (CPG) and growth in high-performance WiFi in RFMD's Multi-Market Products Group (MPG).

Bob Bruggeworth, president and CEO of RFMD, said: "RFMD's robust sequential revenue growth in the December quarter reflected continued content gains, category expansion, and growth in our addressable markets. Looking forward, RFMD secured major design wins during the quarter, and we are executing on multiple opportunities to increase our content generation-over-generation in the world's leading smartphones and significantly outpace the growth rate of the underlying markets."

Looking ahead, the company expects this coming quarterly revenue to decrease approximately 6-8% sequentially to approximately $250 million to $255 million.

Dean Priddy, CFO and vice president of administration of RFMD, said: "On the balance sheet, RFMD generated $43.3 million in cash flow from operations during the December quarter, versus $1.9 million in the prior quarter, nearly offsetting the purchase in November of Amalfi Semiconductor."

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