RF Micro (RFMD) Sees Upside Action on Upbeat Comments
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Shares of RF Micro Devices Inc. (Nasdaq: RFMD) are seeing upside action today after the company gave investors better-than-expected news at a Barclays Capital conference. Shares are up 9% to $2.70.
RF Micro said demand for its products in the June 2009 quarter is better than expected. The company also said its factory utilization rate in the June quarter is currently above 75%, significantly above the 25% rate in the March quarter. In addition, RF Micro said new, higher-margin products are representing an increasing percentage of total revenue which is making gross margin trend above plan.
RF Micro also said expenses are on plan and it is executing on its free cash flow projections of approximately $80 million -- $120 million in RFMD's fiscal 2010.
RF Micro said demand for its products in the June 2009 quarter is better than expected. The company also said its factory utilization rate in the June quarter is currently above 75%, significantly above the 25% rate in the March quarter. In addition, RF Micro said new, higher-margin products are representing an increasing percentage of total revenue which is making gross margin trend above plan.
RF Micro also said expenses are on plan and it is executing on its free cash flow projections of approximately $80 million -- $120 million in RFMD's fiscal 2010.
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