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News

   12th Feb 09

 TRIQUINT Semiconductor posts impressive full year 2008 results

TRIQUINT Semiconductor's revenue for the fourth quarter of 2008 was $149.0 million, up 16% from the fourth quarter of 2007 and a decrease of 20% sequentially following a very strong Q3. Revenue for the year ended 2008 was $573.4 million, up 21% from the year ended 2007. The reasons for growth are increase in 3G handset products combined with revenue from WJ Communications, which was acquired by TRIQUINT Semiconductor in second quarter.

Net loss for the fourth quarter of 2008 was $33.8 million, or ($0.23) per share which includes $35.8 million of impairment charges. Net loss for the year ended 2008 was $14.1 million or ($0.10) per share. Non-GAAP net income for the fourth quarter was $6.6 million or $0.05 per diluted share. Non-GAAP financial measures exclude stock based compensation charges, certain impairment charges and certain charges associated with the acquisition of WJ Communications.

TRIQUINT Semiconductor's annual 3G revenues grew by 254% and WLAN revenue grew 51%.
Notable new products launched are TRITIUM Module family and PowerBand technology based new RF transistor family for broadband applications. The key customer is U.S. Defense.

Ralph Quinsey, President and Chief Executive Officer have commented, "In 2008 TriQuint delivered another solid growth year in spite of dramatic economic slowing in Q4. Inventory reductions throughout the supply chain will have a dampening impact on Q1 revenue while strong design-wins and market share gains position us well for Q2 and beyond. We are aggressively managing expenses but low utilization due to existing inventory levels will put pressure on gross margins until Q2 when supply and demand should be better aligned. Our healthy cash balance and absence of debt allow us to stay focused on opportunities. During this challenging business climate TriQuint will deliver innovation and operational efficiency, creating value out of adversity. TriQuint will emerge as a stronger company."

 



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