TriQuint Semi Q4 Results Top Estimates; Q1 Outlook Weak

(RTTNews) - TriQuint Semiconductor, Inc. (TQNT) reported a net loss for the fourth quarter of $8.7 million or $0.05 per share, compared to a net loss of $3.8 million or $0.02 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $26.4 million or $0.16 per share, compared to $6.2 million or $0.04 per share in the prior year quarter.

Revenue for the quarter rose 15% $267.7 million from $233.6 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.10 per share on revenue of $250.10 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecast revenue of $170 million to $180 million due to seasonality and a large customer's inventory correction in Mobile Device products. First quarter adjusted net loss is expected to be between $0.11 and $0.13 per share.

Analysts currently expect the company to earn $0.19 per share on revenue of $280.54 million for the first quarter.

Looking at 2014 as a whole, the company expects revenue growth in the mid single digits as strong growth in premium filters is partially offset by significant reductions in lower margin amplifiers and non-strategic foundry revenue. The company currently believe full year 2014 adjusted earnings per share will meet or beat the current analyst consensus of $0.49.