RF Micro Devices® Press Release - February 28, 2011
RFMD Celebrates 20 Years of Product and Technology Leadership
GREENSBORO, N.C., Feb. 28, 2011 (GLOBE NEWSWIRE) -- RF Micro Devices, Inc. (Nasdaq:RFMD), a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies, today announced it is proudly celebrating its 20th anniversary with commemorative events planned at Company locations throughout the year. RF Micro Devices was incorporated on February 27, 1991, and held its initial public offering on June 3, 1997.
From its earliest days, RFMD has been an innovator in the semiconductor industry. RFMD was a pioneer in the commercialization of RF components using gallium arsenide (GaAs) compound semiconductor technology, and today RFMD is the world's leading manufacturer of GaAs technology. In the 1990's RFMD was a primary contributor to the rapid growth in the cellular handset market, and in 2000 RFMD was identified by Fortune magazine as the second-fastest growing company in America. In 2004, RFMD became the first semiconductor company to ship one billion cellular power amplifiers, and today RFMD routinely ships greater than three million RF components per day.
Since RFMD's founding, the Company's commitment to product and technology leadership has enabled it to deliver innovative, breakthrough products that have reshaped their respective product categories. These have included RFMD's PowerStar® power amplifiers, RFMD's silicon-based cellular switch technology, RFMD's PowerSmart™ power platforms, and RFMD's high-power GaN technology. In 2010, RFMD unveiled a revolutionary new RF Configurable Power Core at the center of its PowerSmart family of power platforms, and, on February 14, 2011, RFMD unveiled a family of cellular power amplifiers delivering industry-leading peak efficiency.
Bob Bruggeworth, president and CEO of RFMD, commented, "RFMD has a proven history as a product and technology leader. While we're proud of our achievements since our founding, we believe we're just beginning to see the many ways in which our products and technologies can positively impact the experience of individuals, companies and markets. The RFMD team is comprised of outstanding individuals with a shared commitment to product and technology leadership, and we are very optimistic about our opportunities for revenue growth and strong operating results."
RFMD is a global leader in RF components and compound semiconductor technologies. The Company supplies its RF components into multiple industries, including cellular handsets, cellular infrastructure, CATV infrastructure, smart energy, WiFi, and aerospace and defense. The Company is also investing in new growth markets, including concentrated photovoltaics (CPV), RF components for automotive and point-to-point radio applications, and GaN-based power and switching components for defense and power electronics markets.
RFMD's strong record of "industry firsts" includes:
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 operating results, risks associated with the impact of global macroeconomic and credit conditions on our business and the business of our suppliers and customers, our reliance on a few large customers for a substantial portion of our revenue, the rate of growth and development of wireless markets, our ability to bring new products to market, our reliance on inclusion in third party reference designs for a portion of our revenue, our ability to manage channel partner and customer relationships, risks associated with the operation of our wafer fabrication, molecular beam epitaxy, assembly 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, raw material costs and availability, our ability to reduce costs and improve margins in response to declining average selling prices, our ability to adjust production capacity in a timely fashion in response to changes in demand for our products, dependence on gallium arsenide (GaAs) for the majority of our products, dependence on third parties, and substantial reliance on international sales and operations. 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® and RFMD® are trademarks of RFMD, LLC. All other trade names, trademarks and registered trademarks are the property of their respective owners.
VP of Investor Relations
RF Micro Devices