RF Micro Devices (RFMD) - Press Release 7-10-2008
RF Micro Devices® Commences Volume Shipments of POLARIS®
to Multiple Leading Handset Manufacturers
POLARIS 2, POLARIS 3 and POLARIS 3 Silver to Support Mu ltiple New Handsets
in the Second Half Of 2008
GREENSBORO, N.C., July 10 /PRNewswire-FirstCall/ -- RF Micro Devices, Inc. (Nasdaq: RFMD), a global leader in the design and manufacture of high-performance semiconductor components, today announced it is commencing volume shipments of its POLARIS(R) RF solutions in support of six new feature-rich multimedia handsets. All six handsets are expected to be available in the second half of calendar 2008.
Eric Creviston, president of RFMD's Cellular Products Group (CPG), said, "We are very pleased to commence volume shipments of POLARIS into these new handsets in support of multiple customers. Our highly successful POLARIS 2 has shipped more than 100 million units and is a field-proven solution. Our newer-generation POLARIS 3, which continues to ramp successfully, delivers a smaller total solution size, improved ease of RF implementation and increased platform portability from handset to handset."
The shipments are in support of multiple leading handset manufacturers, and the handsets range from entry level multimedia handsets to multi-function, multimedia smartphones. RFMD's volume shipments include POLARIS 2, POLARIS 3 and POLARIS 3 Silver. POLARIS 3 Silver combines the performance advantages of POLARIS 3 with RFMD's patent pending MicroShield(TM) integrated RF shielding to reduce time-to-market and minimize cost of implementation.
Based upon existing customer forecasts, RFMD(R) currently anticipates POLARIS revenue will increase sequentially in the September 2008 and December 2008 quarters, and RFMD currently expects sales of its POLARIS RF solutions will extend into calendar year 2011. On May 6, 2008, RFMD announced it had discontinued development of future-generation, 3G RF solutions. The Company continues to fully support its successful EDGE RF solutions, including POLARIS 2, POLARIS 3 and POLARIS 3 Silver.
About RFMD: RF Micro Devices, Inc. (Nasdaq: RFMD) is a global leader in the design and manufacture of high-performance semiconductor components. RFMD's products enable worldwide mobility, provide enhanced connectivity and support advanced functionality in the cellular handset, wireless infrastructure, wireless local area network (WLAN), CATV/broadband and aerospace and defense markets. RFMD is recognized for its diverse portfolio of semiconductor technologies and RF systems expertise and is a preferred supplier to the world's leading mobile device, customer premises and communications equipment providers.
Headquartered in Greensboro, N.C., RFMD is an ISO 9001- and ISO 14001- certified manufacturer with worldwide engineering, design, sales and service facilities. RFMD is traded on the NASDAQ Global Select Market under the symbol RFMD. For more information, please visit RFMD's web site at www.rfmd.com.
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions and are not historical facts and typically are identified by use of terms such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue" and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements included herein represent management's current judgment and expectations, but our actual results, events and performance could differ materially from those expressed or implied by forward-looking statements. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as is required under the federal securities laws. RF Micro Devices' business is subject to numerous risks and uncertainties, including variability in quarterly operating results, the rate of growth and development of wireless markets, risks associated with our planned exit from our wireless systems business, including cellular transceivers and GPS solutions, the risk that restructuring charges may be greater than originally anticipated and that the cost savings and other benefits from the restructuring may not be achieved, risks associated with the operation of our wafer fabrication facilities, molecular beam epitaxy facility, assembly facility and test and tape and reel facilities, our ability to complete acquisitions and integrate acquired companies, including the risk that we may not realize expected synergies from our business combinations, our ability to attract and retain skilled personnel and develop leaders, variability in production yields, our ability to reduce costs and improve gross margins by implementing innovative technologies, our ability to bring new products to market, our ability to adjust production capacity in a timely fashion in response to changes in demand for our products, dependence on a limited number of customers, and dependence on third parties. These and other risks and uncertainties, which are described in more detail in RF Micro Devices' most recent Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission, could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements.
RF MICRO DEVICES(R), RFMD(R) and patent pending MicroShield(TM) are trademarks of RFMD, LLC. All other trade names, trademarks and registered trademarks are the property of their respective owners.
SOURCE RF Micro Devices, Inc. 07/10/2008
At RFMD(R), Dean Priddy, CFO, 1-336-678-7975,
Doug DeLieto, VP, Investor Relations, 1-336-678-7968,
Jerry Neal, EVP, Marketing and Strategic Development, 1-336-678-7001
Web site: http://www.rfmd.com (RFMD)