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RF Micro forecasts strong second-quarter as mobile chips sales rise

25
Jul
2014

RF Micro Devices Inc forecast quarterly results above market expectations, helped by higher demand for its chips that connect devices such as Apple Inc’s iPhone and Samsung Electronics Co’s smartphones to networks. The chipmaker, which supplies cellular radio frequency chips for use in mobile handsets, notebook computers and tablets, forecast second-quarter adjusted earnings of 27 cents per share. Analysts on average were expecting earnings of 20 cents per share on revenue of $328 million, according to Thomson Reuters I/B/E/S. “We will probably hear that it has a lot to do with their largest customer, which they won’t name, but obviously is Apple and the smartphone growth coming out of China right now is just on fire,” Northland Capital Markets analyst Tom Sepenzis said.

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