RF Micro Devices (RFMD) - Press Release 9-25-2008
RFMD® Delivers June Quarterly Revenue of $240.5 Million
RFMD(R) Selected By Samsung to Support More Than 10 Upcoming 3G Handsets
Shipments To Commence In The December 2008 Quarter And Accelerate Into Calendar 2009
GREENSBORO, N.C., Sept. 25 /PRNewswire-FirstCall/ -- RF Micro Devices, Inc. (Nasdaq: RFMD), a global leader in the design and manufacture of high-performance semiconductor components, today announced it has captured design wins on more than 10 upcoming Samsung 3G handsets, supporting Samsung's anticipated growth in 3G handset sales. Based upon current customer forecasts, RFMD(R) anticipates volume shipments to commence in the December 2008 quarter and accelerate into calendar 2009.
RFMD was selected by Samsung to supply Wideband CDMA/High Speed Packet Access (WCDMA/HSPA) power amplifiers (PAs) and EDGE PAs into a growing range of 3G handsets. New phones include the SGH-L700, the SGH-L770 and the SGH-G400. The sleek SGH-L700 slider phone features a music player, FM radio, streaming Bluetooth(R) audio, a 2-megapixel camera and a separate, dedicated camera for video conferencing. The feature-rich SGH-G400 features Bluetooth(R) 2.0, a 2.2" 262K color screen, a microSD expansion slot and a 5-megapixel camera with auto-focus. The new phones represent a significant expansion of RFMD's 3G shipments to Samsung. RFMD began volume shipments into Samsung 3G handsets in the June 2008 quarter, with the launch of the highly acclaimed SGH-U900 Ultra Edition III SOUL handset.
"We are extremely pleased to support a growing number of Samsung 3G handsets," said Eric Creviston, president of RFMD's Cellular Products Group. "We enjoy very strong business with Samsung in EDGE handsets, and we look forward to expanding our relationship with Samsung as we supply our innovative 3G front ends into their feature-rich, next-generation handsets. We are particularly enthusiastic about ongoing design activity in support of Samsung's future handset platform development efforts."
The innovative WCDMA/HSPA and EDGE PAs selected by Samsung deliver superior performance and current consumption, as compared to competitive offerings, enabling OEMs to manufacture feature-rich 3G handsets that maximize performance and improve battery life for consumers.
RFMD is the industry leader in 3G front ends and enjoys an advantage in 3G design activity, given its leading product portfolio, manufacturing scale, systems-level expertise and packaging and assembly capabilities--all of which enable RFMD to minimize complexity, reduce component count and optimize the RF design of multi-band WCDMA/HSPA handsets and mobile devices. RFMD is benefiting from continued growth in 3G handset shipments, as consumers increasingly seek a more data-rich mobile experience. The 3G handset growth rate is expected to significantly outpace the rate of growth of the handset industry.
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) and RFMD(R) 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.
CONTACT: Dean Priddy, CFO +1-336-678-7975 or Doug DeLieto, VP, Investor Relations +1-336-678-7968 or Jerry Neal, EVP, Marketing and Strategic Development +1-336-678-7001