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Triquint Semi (TQNT) Tops Q2 EPS by 6c; Issues Light Q3 Revenue Outlook

July 23, 2014 4:04 PM EDT

Triquint Semiconductor, Inc. (Nasdaq: TQNT) reported Q2 EPS of $0.13, $0.06 better than the analyst estimate of $0.07. Revenue for the quarter came in at $230.8 million versus the consensus estimate of $218.61 million.

Triquint Semi sees Q3 2014 EPS of $0.23 - $0.25, versus the consensus of $0.24. Triquint also sees Q3 2014 revenue of $255 - $265 million, versus the consensus of $277.92 million.

Outlook:

The company believes second half revenue will be between $550 million and $600 million, up 11% at the midpoint from the prior year. While the split of this revenue between the third and fourth quarters depends on major program timing, the company currently expects third quarter revenue to range between $255 million and $265 million. Third quarter non-GAAP gross margin is expected to be between 43% and 45%, driven by strong execution, higher factory utilization and product mix. Non-GAAP operating expenses are expected to be approximately $70 million. Third quarter non-GAAP net income per diluted share is expected to be between $0.23 and $0.25. As of today, the company is 93% booked to the midpoint of Q3 revenue guidance.

For earnings history and earnings-related data on Triquint Semiconductor, Inc. (TQNT) click here.



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