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RF Micro Devices® Press Release -  July 23, 2009

RFMD® Delivers Significantly Improved Operating Results and Cash Flow

   * Quarterly Revenue Increased Sequentially 23.3% To $212.5 Million
   * On A GAAP Basis, Gross Profit Totaled $74.0 Million, Or 34.8% Of
     Revenue; Operating Profit Totaled $12.1 Million, Or 5.7% Of
     Revenue, And Diluted Earnings Per Share Totaled $0.02
   * On A Non-GAAP Basis, Gross Profit Totaled $78.5 Million, Or 37.0%
     Of Revenue; Operating Profit Totaled $24.0 Million, Or 11.3% Of
     Revenue, And Diluted Earnings Per Share Totaled $0.07
   * Free Cash Flow (Net Cash Provided By Operating Activities Minus
     Property And Equipment Expenditures) Was $34.5 Million, Or $0.13
     Per Diluted Share
   * Both CPG And MPG Grew Sequentially In Excess Of The Growth Rate
     Of Primary End Markets, Led By Growth Of More Than 50% In Both 3G
     Front Ends And Smart Grid Applications
   * RFMD Is Booked For Sequential Growth In Revenue And Anticipates
     Sequential Growth In EPS And Strong Cash Flow In The September
     2009 Quarter
   RFMD
GREENSBORO, N.C., July 23, 2009 (GLOBE NEWSWIRE) -- RF Micro Devices, Inc. (Nasdaq:RFMD), a global leader in the design and manufacture of high-performance semiconductor components, today reported financial results for its fiscal 2010 first quarter ended June 27, 2009. RFMD's June quarterly revenue increased approximately 23.3% sequentially to $212.5 million. GAAP gross margin for the quarter increased sequentially from 17.3% to 34.8%, and non-GAAP gross margin increased sequentially from 19.8% to 37.0% during the same period. Operating profit was approximately $12.1 million on a GAAP basis and approximately $24.0 million on a non-GAAP basis, reflecting increased revenue, gross profit and solid expense management. Net income was approximately $4.8 million, or $0.02 per diluted share, on a GAAP basis and approximately $18.9 million, or $0.07 per diluted share, on a non-GAAP basis.
 RFMD(R) Product Group Highlights

 Cellular Products Group (CPG)

   * CPG outpaced cellular component market growth, driven by market
     share gains
   * Sales of 3G power amplifiers increased sequentially by more than
     50% and revenue related to 3G smartphones increased significantly
     as a percentage of CPG revenue
   * Design win momentum for RFMD's new GSM/GPRS transmit modules
     continued to increase significantly across top-tier handset OEMs
     in Korea and Greater China
   * CPG won new component qualifications on reference designs from
     QUALCOMM and Infineon during the quarter
   * CPG introduced 12 new products and continued to expand its
     content opportunity across cellular front ends, receiving first
     production orders for GPS LNA/filter modules and sampling switch
     duplexer modules to leading customers
   * CPG currently forecasts sequential growth in excess of the
     projected handset industry growth rate in the September 2009
     quarter, fueled by continued expansion of content in 3G
     smartphones and continued share gains

 Multi-Market Products Group (MPG)

   * MPG experienced increased customer activity in multiple markets,
     including 3G cellular infrastructure in China, WiFi, WiMAX,
     defense and commercial power
   * Sales related to smart grid applications, including Automatic
     Meter Reading (AMR), grew more than 50% sequentially
   * MPG received its first production orders for electronic toll
     collection (ETC) applications in China
   * MPG launched its Gallium Nitride (GaN) Foundry Services business
     unit, featuring RFMD's state-of-the-art, high-power GaN
     semiconductor technology
   * MPG released 18 new RF components and 51 derivative products in
     the June quarter; MPG is on track to release more than 250
     products this fiscal year
   * MPG currently forecasts sequential growth in the September 2009
     quarter

                             GAAP RESULTS (1)
 ---------------------------------------------------------------------

  (in millions, except   Q1       Q4     Change       Q1     Change
  percentages and per  Fiscal   Fiscal   vs. Q4     Fiscal   vs. Q1
  share data)           2010     2009     2009       2009     2009
 -------------------- -------  -------  -------    -------  -------
 Revenue              $212.5   $ 172.3     23.3%   $ 240.5   (11.6)%
 Gross Margin           34.8%     17.3%    17.5 ppt   30.1%    4.7 ppt
 Operating Income
  (Loss)              $ 12.1   $ (56.5) $  68.6    $ (39.7) $ 51.8
 Net Income (Loss)    $  4.8   $ (58.7) $  63.5    $ (26.5) $ 31.3
 Diluted EPS (LPS)    $ 0.02   $ (0.22) $  0.24    $ (0.10) $ 0.12


 NON-GAAP RESULTS (excluding share-based compensation, amortization of
  intangibles, impairment of goodwill and intangibles, amortization
    of acquisition-related inventory step-up, acquired in process
     research and development, integration charges, manufacturing
    start-up costs, gain on retirement of convertible subordinated
      notes, restructuring charges, non-cash interest expense on
         convertible subordinated notes and tax adjustments) (1)

 ---------------------------------------------------------------------
  (in millions, except   Q1       Q4     Change       Q1     Change
  percentages and per  Fiscal   Fiscal   vs. Q4     Fiscal   vs. Q1
  share data)           2010     2009     2009       2009     2009
 -------------------- -------  -------  -------    -------  -------

 Gross Margin           37.0%     19.8%   17.2 ppt    33.0%    4.0 ppt
 Operating Income
  (Loss)              $ 24.0   $ (21.4) $ 45.4      $  2.3  $ 21.7
 Net Income (Loss)    $ 18.9   $ (25.0) $ 43.9      $  9.9  $  9.0
 Diluted EPS (LPS)    $ 0.07   $ (0.10) $ 0.17      $ 0.04  $ 0.03

 (1) Effective March 29, 2009, we adopted the Financial Accounting
     Standard Board's Staff Position No. APB 14-1, "Accounting for
     Convertible Debt Instruments That May Be Settled in Cash upon
     Conversion (Including Partial Cash Settlement)." Our financial
     statements for the three months ended March 28, 2009 and June 28,
     2008 have been adjusted to reflect the retroactive application of
     this new accounting standard.


Business Outlook

RFMD is experiencing improved order visibility in its primary markets and currently expects sequential revenue growth, driven by the increasing RF content opportunity in 3G smartphones and continued market share gains. RFMD's fiscal 2010 is a 53-week fiscal year, and the September 2009 quarter is a 14-week quarter.
   * RFMD is currently booked for sequential revenue growth in the
     September 2009 quarter
   * RFMD currently projects factory utilization rates in the
     September 2009 quarter will be in-line with factory utilization
     rates in the June quarter
   * RFMD currently expects to increase cash, cash equivalents and
     short-term investments in the September 2009 quarter
   * RFMD currently anticipates sequential growth in EPS and strong
     cash flow in the September 2009 quarter


RFMD's actual quarterly and annual results may differ from these expectations and projections, and such differences may be material.

Comments From Management

Bob Bruggeworth, president and CEO of RFMD, said, "Our June quarterly results demonstrate the outstanding execution of the entire RFMD team and highlight the earnings power in our operating model. We made significant progress in the June quarter toward our financial model, and RFMD today is structured for significant financial leverage. In the September quarter, we expect sequential growth in both revenue and earnings per share."

Dean Priddy, CFO of RFMD, said, "Despite the reduced year-over-year demand environment, we are pleased to have delivered on our commitment to significantly improved financial performance.

"RFMD's business model is structured to enable us to grow revenue rapidly, improve earnings significantly and generate substantial free cash flow. We expect continued strong free cash flow and return on invested capital (ROIC) as our reduced die size products represent a greater percentage of revenue, thereby reducing the need for significant additional capital expenditures into the foreseeable future. Additionally, we expect our breakthrough GaN process technology, which utilizes our existing high-volume manufacturing assets, will contribute to our improved ROIC this calendar year."

Non-GAAP Financial Measures

In addition to disclosing financial results calculated in accordance with United States (U.S.) generally accepted accounting principles (GAAP), RFMD's earnings release contains the following non-GAAP financial measures: (i) non-GAAP gross profit and gross margin, (ii) non-GAAP operating income (loss), (iii) non-GAAP net income (loss), (iv) non-GAAP net income (loss) per diluted share, (v) non-GAAP operating expenses (research and development, marketing and selling and general and administrative) and (vi) free cash flow. Each of these non-GAAP financial measures is either adjusted from GAAP results to exclude certain expenses or derived from multiple GAAP measures, which are outlined in the "Reconciliation of GAAP to Non-GAAP Financial Measures" table on page 9 and the "Additional Selected Non-GAAP Financial Measures And Reconciliations" table on page 10.

In managing RFMD's business on a consolidated basis, management develops an annual operating plan, which is approved by our Board of Directors, using non-GAAP financial measures. In developing and monitoring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce unit costs with the goal of increasing gross margin. In addition, management relies upon these non-GAAP financial measures to assess whether research and development efforts are at an appropriate level, and when making decisions about product spending, administrative budgets, and marketing programs. In addition, we believe that non-GAAP financial measures provide useful supplemental information to investors and enable investors to analyze the results of operations in the same way as management. We have chosen to provide this supplemental information to enable investors to perform additional comparisons of operating results, to assess our liquidity and capital position and to analyze financial performance excluding the effect of certain non-cash expenses, unusual items and share-based compensation expense, which may obscure trends in RFMD's underlying performance.

We believe that these non-GAAP financial measures offer an additional view of RFMD's operations that, when coupled with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of RFMD's results of operations and the factors and trends affecting RFMD's business. However, these non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP.

Our rationale for using these non-GAAP financial measures, as well as their impact on the presentation of RFMD's operations, are outlined below:

Non-GAAP gross profit and gross margin. Non-GAAP gross profit and gross margin excludes share-based compensation expense, amortization of intangible assets, adjustments for restructuring and integration charges and an adjustment for amortization of acquisition-related inventory step-up. We believe that exclusion of these costs in presenting non-GAAP gross profit and gross margin gives management and investors a more effective means of evaluating RFMD's historical performance and projected costs and the potential for realizing cost efficiencies. We believe that the majority of RFMD's purchased intangibles are not relevant to analyzing current operations because they generally represent costs incurred by the acquired company to build value prior to acquisition, and thus are effectively part of transaction costs rather than ongoing costs of operating RFMD's business. In this regard, we note that (i) once the intangibles are fully amortized, the intangibles will not be replaced with cash costs and therefore, the exclusion of these costs provides management and investors with better visibility into the actual costs required to generate revenues over time, and (ii) although we set the amortization expense based on useful life of the various assets at the time of the transaction, we cannot influence the timing and amount of the future amortization expense recognition once the lives are established. Similarly, we believe that presentation of non-GAAP gross profit and gross margin and other non-GAAP financial measures that exclude the impact of share-based compensation expense assists management and investors in evaluating the period-over-period performance of RFMD's ongoing operations because (i) the expenses are non-cash in nature, and (ii) although the size of the grants is within our control, the amount of expense varies depending on factors such as short-term fluctuations in stock price volatility and prevailing interest rates, which can be unrelated to the operational performance of RFMD during the period in which the expense is incurred and generally is outside the control of management. Moreover, we believe that the exclusion of share-based compensation expense in presenting non-GAAP gross profit and gross margin and other non-GAAP financial measures is useful to investors to understand the impact of the expensing of share-based compensation to RFMD's gross profit and gross margins and other financial measures in comparison to both prior periods as well as to its competitors. We also believe that the adjustments to profit and margin related to business acquisitions (amortization of acquisition-related inventory step-up) and restructuring and integration charges do not constitute part of RFMD's ongoing operations and therefore the exclusion of these costs provides management and investors with better visibility into the actual costs required to generate revenues over time and gives management and investors a more effective means of evaluating our historical and projected performance.

We believe disclosure of non-GAAP gross profit and gross margin has economic substance because the excluded expenses do not represent continuing cash expenditures and, as described above, we have little control over the timing and amount of the expenses in question.

Non-GAAP operating income (loss). Non-GAAP operating income (loss) excludes share-based compensation expense, amortization of intangible assets, acquired in-process research and development, restructuring and integration charges, impairment of goodwill and intangibles, amortization of acquisition-related inventory step-up and manufacturing start-up costs. We believe that presentation of a measure of operating income that excludes amortization of intangible assets and share-based compensation expense is useful to both management and investors for the same reasons as described above with respect to our use of non-GAAP gross profit and gross margin. We believe that restructuring and integration charges, impairment of goodwill and intangibles, acquired in-process research and development, manufacturing start-up costs and amortization of acquisition-related inventory step-up do not constitute part of RFMD's ongoing operations and therefore, the exclusion of these costs provides management and investors with better visibility into the actual costs required to generate revenues over time and gives management and investors a more effective means of evaluating our historical and projected performance. We believe disclosure of non-GAAP operating income has economic substance because the excluded expenses are either non-recurring in nature or do not represent current cash expenditures.

Non-GAAP net income (loss) and non-GAAP net income (loss) per diluted share. Non-GAAP net income (loss) and non-GAAP net income (loss) per diluted share exclude the effects of share-based compensation expense, amortization of intangible assets, acquired in-process research and development, restructuring and integration charges, impairment of goodwill and intangibles, manufacturing start-up costs, amortization of acquisition-related inventory step-up, gain on retirement of convertible subordinated notes, non-cash interest expense on convertible subordinated notes and also reflect an adjustment of income taxes. We believe that presentation of measures of net income (loss) and net income (loss) per diluted share that exclude these items is useful to both management and investors for the reasons described above with respect to non-GAAP gross profit and gross margin and non-GAAP operating income (loss). We believe disclosure of non-GAAP net income (loss) and non-GAAP net income (loss) per diluted share has economic substance because the excluded expenses are either non-recurring in nature, do not represent current cash expenditures, or are variable in nature and thus unlikely to become recurring expenses.

Non-GAAP research and development, marketing and selling and general and administrative expenses. Non-GAAP research and development, marketing and selling and general and administrative expenses exclude share-based compensation expense, amortization of intangible assets, restructuring and integration charges and impairment of goodwill and intangibles. We believe that presentation of measures of these operating expenses that exclude amortization of intangible assets and share-based compensation expense is useful to both management and investors for the same reasons as described above with respect to our use of non-GAAP gross profit and gross margin. We believe that restructuring and integration charges and impairment of goodwill and intangibles do not constitute part of RFMD's ongoing operations and therefore, the exclusion of these costs provides management and investors with better visibility into the actual costs required to generate revenues over time and gives management and investors a more effective means of evaluating our historical and projected performance. We believe disclosure of these non-GAAP operating expenses has economic substance because the excluded expenses are either non-recurring in nature or do not represent current cash expenditures.

Free cash flow. RFMD defines free cash flow as net cash provided by operating activities during the period minus property and equipment expenditures made during the period. RFMD defines free cash flow per diluted share as net cash provided by operating activities during the period minus property and equipment expenditures made during the period divided by GAAP weighted average outstanding diluted shares during the period. We use free cash flow as a supplemental financial measure in our evaluation of liquidity and financial strength. Management believes that this measure is useful as an indicator of our ability to service our debt, meet other payment obligations and make strategic investments. Free cash flow should be considered in addition to, rather than as a substitute for, net income as a measure of our performance and net cash provided by operating activities as a measure of our liquidity. Additionally, our definition of free cash flow is limited, in that it does not represent residual cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations. Therefore, we believe it is important to view free cash flow as a measure that provides supplemental information to our entire statement of cash flows.

Limitations of non-GAAP financial measures. The primary material limitations associated with the use of non-GAAP gross profit and gross margin, non-GAAP operating expenses, non-GAAP operating income (loss), non-GAAP net income (loss), non-GAAP net income (loss) per diluted share, free cash flow and free cash flow per diluted share as compared to the most directly comparable GAAP financial measures of gross profit and gross margin, operating expenses, operating income (loss), net income (loss), net income (loss) per diluted share and net cash provided by operating activities are (i) they may not be comparable to similarly titled measures used by other companies in RFMD's industry, and (ii) they exclude financial information that some may consider important in evaluating our performance. We compensate for these limitations by providing full disclosure of the differences between these non-GAAP financial measures and the corresponding GAAP financial measures, including a reconciliation of the non-GAAP financial measures to the corresponding GAAP financial measures, to enable investors to perform their own analysis of our gross profit and gross margin, operating expenses,operating income (loss), net income (loss), net income (loss) per diluted share and net cash provided by operating activities.

RF Micro Devices will conduct a conference call at 5:00 p.m. EDT today to discuss today's press release. The conference call will be broadcast live over the Internet and can be accessed by any interested party at http://www.earnings.com or http://www.rfmd.com (under Investors). A telephone playback of the conference call will be available approximately one hour after the call's completion by dialing 303-590-3030 and entering pass code 4106018.

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 risks associated with the recent worldwide economic turmoil and its effect on our business and the business of our suppliers and customers, variability in quarterly operating results, the impact of global macroeconomic and credit conditions on our business, the rate of growth and development of wireless markets, risks associated with the reduction or elimination of our investments in our wireless systems business, risks that restructuring charges may be greater and that the cost savings and other benefits from our restructurings may be lower than originally anticipated, 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 and statements 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.

Tables To Follow
               RF MICRO DEVICES, INC. AND SUBSIDIARIES
           CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                (In thousands, except per share data)
                           (Unaudited)


                                           Three Months Ended
                                      ---------------------------
                                       June 27,          June 28,
                                        2009             2008 (1)
                                      ---------         ---------
 Total revenue                        $ 212,540         $ 240,492

 Costs and expenses:
  Cost of goods sold                    138,539           168,163
  Research and development               35,633            51,354
  Marketing and selling                  13,568            18,522
  General and administrative             11,212            13,058
  Other operating expense                 1,537            29,098
                                      ---------         ---------

  Total costs and expenses              200,489           280,195
                                      ---------         ---------

 Operating income (loss)                 12,051           (39,703)
 Other expense                           (4,197)           (3,917)
                                      ---------         ---------
 Income (loss) before income
  taxes                               $   7,854         $ (43,620)
 Income tax (expense) benefit            (3,070)           17,095
                                      ---------         ---------

 Net income (loss)                    $   4,784         $ (26,525)
                                      =========         =========
 Net income (loss) per share,
  diluted                             $    0.02         $   (0.10)
                                      =========         =========
 Weighted average outstanding
  diluted shares                        269,302           261,249
                                      =========         =========

 (1) Effective March 29, 2009, we adopted the Financial Accounting
     Standard Board's Staff Position No. APB 14-1, "Accounting for
     Convertible Debt Instruments That May Be Settled in Cash upon
     Conversion (Including Partial Cash Settlement)." Our financial
     statements for the three months ended June 28, 2008 have been
     adjusted to reflect the retroactive application of this new
     accounting standard.

               RF MICRO DEVICES, INC. AND SUBSIDIARIES
         RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
                 (In thousands, except per share data)
                              (Unaudited)

                                             Three Months Ended
                                        -----------------------------
                                        June 27,  March 28, June 28,
                                          2009    2009 (1)  2008 (1)
                                        --------  --------  --------
 GAAP operating income (loss)           $ 12,051  $(56,522) $(39,703)
   Share-based compensation expense        4,137     5,302     4,481
   Amortization of intangible assets       4,716     3,873     7,771
   Acquired in process research and
    development                               --        --     1,400
   Amortization of acquisition-
    related inventory step-up                 --        --       661
   Restructuring charges related to
    fiscal 2009 strategic
    restructuring and adverse
    macroeconomic conditions               1,982    12,401    26,568
   Impairment of goodwill and
    intangibles                              201    13,485        --
   Other restructuring, integration
    charges and manufacturing
    start-up costs                           935        75     1,131
                                        --------  --------  --------
 Non-GAAP operating income (loss)         24,022   (21,386)    2,309
                                        ========  ========  ========

 GAAP net income (loss)                    4,784   (58,678)  (26,525)
   Share-based compensation expense        4,137     5,302     4,481
   Amortization of intangible assets       4,716     3,873     7,771
   Acquired in process research and
    development                               --        --     1,400
   Amortization of acquisition-
    related inventory step-up                 --        --       661
   Restructuring charges related to
    fiscal 2009 strategic
    restructuring and adverse
    macroeconomic conditions               1,982    12,401    26,568
   Impairment of goodwill
    and intangibles                          201    13,485        --
   Other restructuring, integration
    charges and manufacturing
    start-up costs                           935        75     1,131
   Gain on retirement of convertible
    subordinated notes                    (1,949)   (6,246)       --
   Non-cash interest expense on
    convertible subordinated notes         4,279     4,466     4,368
   Tax adjustments                          (229)      290    (9,944)
                                        --------  --------  --------

 Non-GAAP net income (loss)               18,856   (25,032)    9,911
 Plus: Income impact of assumed
  conversions for interest on
  1.50% convertible notes                    596        --       662
                                        --------  --------  --------
 Non-GAAP net income (loss) plus
  assumed conversion of notes-
  Numerator for diluted income
  (loss) per share                      $ 19,452  $(25,032) $ 10,573
                                        ========  ========  ========

 GAAP weighted average outstanding
  diluted shares                         269,302   263,409   261,249
 Adjustments:
   Diluted stock options                      --        --     1,745
   Assumed conversion of
    1.50% convertible notes               27,130        --    30,144
                                        --------  --------  --------
 Non-GAAP weighted average
  outstanding diluted shares             296,432   263,409   293,138
                                        ========  ========  ========
 Non-GAAP net income (loss)
  per share, diluted                    $   0.07  $  (0.10) $   0.04
                                        ========  ========  ========

                                     Three Months Ended
                        ----------------------------------------------
                        June 27, 2009   March 28, 2009  June 28, 2008
                        --------------  --------------  --------------
 GAAP gross margin      $74,001  34.8%  $29,834  17.3%   72,329  30.1%
   Adjustment for
    intangible
    amortization          3,596   1.7     3,109   1.8     5,606   2.3
   Adjustment for
    amortization of
    acquisition-related
    inventory step-up        --    --        --    --       661   0.3
   Adjustment for
    share-based
    compensation            484   0.3     1,182   0.7       799   0.3
   Other restructuring      458   0.2        10    --        --    --
                        -------  -----  -------  -----  -------  -----

 Non-GAAP gross margin  $78,539  37.0%  $34,135  19.8%  $79,395  33.0%
                        =======  =====  =======  =====  =======  =====

 (1)  Effective March 29, 2009, we adopted the Financial Accounting
      Standard Board's Staff Position No. APB 14-1, "Accounting for
      Convertible Debt Instruments That May Be Settled in Cash upon
      Conversion (Including Partial Cash Settlement)." Our financial
      statements for the three months ended March 28, 2009 and June 28,
      2008 have been adjusted to reflect the retroactive application of
      this new accounting standard.

                RF MICRO DEVICES, INC. AND SUBSIDIARIES
  ADDITIONAL SELECTED NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS
                 (In millions, except per share data)
                              (Unaudited)

                                             Three Months Ended
                                        ---------------------------
                                        June 27, March 28,  June 28,
(In thousands)                           2009      2009       2008
                                        -------   -------   -------
 GAAP research and development
  expenses                              $35,633   $35,745   $51,354

 Less:
   Share-based compensation expense       1,045     1,139     1,135
   Amortization of intangible assets         33        34        33
   Impairment of goodwill
    and intangibles                         201        --        --
   Other restructuring and
    integration charges                     120        --        --
                                        -------   -------   -------
 Non-GAAP research and
  development expenses                  $34,234   $34,572   $50,186
                                        =======   =======   =======

                                             Three Months Ended
                                        ---------------------------
                                        June 27, March 28,  June 28,
 (In thousands)                           2009     2009      2008
                                        -------   -------   -------
 GAAP marketing and selling expenses    $13,568   $13,760   $18,522

 Less:
   Share-based compensation expense       1,043       996       949
   Amortization of intangible assets      1,087       730     2,132
   Other restructuring and
    integration charges                       9        --        --
                                        -------   -------   -------
 Non-GAAP marketing and
  selling expenses                      $11,429   $12,034   $15,441
                                        =======   =======   =======

                                             Three Months Ended
                                        ---------------------------
                                        June 27, March 28,  June 28,
 (In thousands)                          2009      2009       2008
                                        -------   -------   -------
 GAAP general and
  administrative expenses               $11,212   $10,900   $13,058
 Less:
   Share-based compensation expense       1,565     1,985     1,598
   Other restructuring and
    integration charges                      19        --        --
                                        -------   -------   -------
 Non-GAAP general and
  administrative expenses               $ 9,628   $ 8,915   $11,460
                                        =======   =======   =======

 Free Cash Flow(1)
 (In millions, except per share data)
                                                   Three Months
                                                       Ended
                                                   June 27, 2009
                                                   -------------
 Net cash provided by operating activities         $        36.4
 Purchases of property and equipment                        (1.9)
                                                   -------------
 Free Cash Flow                                    $        34.5
                                                   =============
 GAAP weighted average outstanding diluted
  shares (In thousands)                                  269,302
 Free cash flow per diluted share                  $        0.13


(1)  Free Cash Flow is calculated as net cash provided by operating
     activities minus property and equipment expenditures. Free cash
     flow per diluted share is calculated as net cash provided by
     operating activities minus property and equipment expenditures
     divided by GAAP weighted average outstanding diluted shares.
              RF MICRO DEVICES, INC. AND SUBSIDIARIES
               CONDENSED CONSOLIDATED BALANCE SHEETS
                          (In thousands)
                            (Unaudited)



                                                June 27,     March 28,
                                                  2009        2009 (1)
                                               ----------   ----------
 ASSETS
 Current assets:
    Cash and cash equivalents                  $  125,205   $  172,989
    Restricted cash                                   893           62
    Short-term investments                        186,567       93,527
    Accounts receivable, net                       98,100       90,231
    Inventories                                   107,008      113,611
    Other current assets                           57,004       47,014
                                               ----------   ----------
     Total current assets                         574,777      517,434

  Property and equipment, net                     296,418      315,127
  Goodwill                                         95,628       95,628
  Long-term investments                             2,200       20,183
  Intangible assets, net                          116,273      121,191
  Other assets                                     18,095       19,079
                                               ----------   ----------
     Total assets                              $1,103,391   $1,088,642
                                               ==========   ==========

  LIABILITIES AND SHAREHOLDERS' EQUITY
  Current liabilities:
    Accounts payable and accrued liabilities   $  112,205   $   98,004
    Current portion - long-term debt                  111          156
    Other short-term liabilities, net              19,621        5,606
                                               ----------   ----------
     Total current liabilities                    131,937      103,766

  Long-term debt, net                             487,001      505,107
  Other long-term liabilities                      43,798       47,807
                                               ----------   ----------
     Total liabilities                            662,736      656,680

  Shareholders' equity:
    Total shareholders' equity                    440,655      431,962
                                               ----------   ----------

     Total liabilities and shareholders'
      equity                                   $1,103,391   $1,088,642
                                               ==========   ==========


 (1) Effective March 29, 2009, we adopted the Financial Accounting
     Standard Board's Staff Position No. APB 14-1, "Accounting for
     Convertible Debt Instruments That May Be Settled in Cash upon
     Conversion (Including Partial Cash Settlement)." Our financial
     statements as of March 28, 2009 have been adjusted to reflect the
     retroactive application of this new accounting standard.


This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: RF Micro Devices
RFMD(R)
          Doug DeLieto, VP, Investor Relations
            336-678-7088
          Dean Priddy, CFO
            336-678-7975

          The Financial Relations Board
          Joe Calabrese, Vice President
          212-827-3772













About RFMD
 
RF Micro Devices, Inc. (Nasdaq GS: 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 impact of global macroeconomic and credit conditions on our business, 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.




CONTACTS:
 

Doug DeLieto
VP, Investor Relations
+1-336-678-7968,
or Jerry Neal
Executive Vice President
+1-336-678-7001, both of RFMD
Web Site: http://www.rfmd.com










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