From: Savant | 1/10/2012 11:19:41 AM | | | | TriQuint Advances DARPA GaN R&D Program Ahead of Schedule
TriQuint Announces GaN Breakthroughs Developing Highly-Advanced, Mixed-Signal Digital/RF Circuits for DARPA
HILLSBORO, Ore. & RICHARDSON, Texas, Jan 10, 2012 (BUSINESS WIRE) -- TriQuint Semiconductor, Inc. (TQNT), a leading RF solutions supplier and technology innovator, today announced that it has begun work on Phase II of the Defense Advanced Research Projects Agency (DARPA) multi-year Nitride Electronic NeXt-Generation Technology (NEXT) program as a prime contractor. TriQuint has received $12.67 million in support of the NEXT contract to date.
NEXT was created by DARPA to research and develop devices suitable for complex, high dynamic range mixed-signal circuits for future defense/aerospace applications. Phase II of the NEXT program is contracted to last 18 months.
TriQuint is already exploring and bringing to market derivative devices made possible by breakthroughs demonstrated in NEXT Phase I. "NEXT devices provide game-changing technology for substantially improving performance in applications like phased array radar and communications," said TriQuint Vice President and General Manager for Defense Products and Foundry Services, James L. Klein. "The devices developed under 'NEXT' open-up applications for lower voltage GaN-based products, which achieve power densities at least four times higher than GaAs devices. The opportunities are exciting."
TriQuint Senior Fellow Dr. Paul Saunier leads the NEXT program as principal investigator. Dr. Saunier and his team reported state-of-the-art results at the 2011 GOMACTech conference in Orlando, Florida. The team achieved an Ft>240 GHz in a GaN circuit.
DARPA's NEXT Phase I concentrated on fabricating very high frequency devices and meeting defined yield metrics. Phase II will concentrate on process development in the pursuit of increased yields while pushing the operating frequency to 400 GHz. Phase III will seek to extend the operating frequency to 500 GHz with still higher yields and reduced circuit size. NEXT research also focuses on highly-scaled enhancement-depletion (E/D) mode GaN mixed-signal devices, similar to those used in gallium arsenide (GaAs) E/D MMICs. TriQuint creates the latter, with integrated digital control functionality and power handling for greater efficiency and cost-effectiveness.
Beyond the NEXT activity, TriQuint is working on innovative enhancement mode power switching devices needed for ultra-high efficiency DC-DC converters integrated with RF amplifiers for radar, communications and EW systems. The technology is enabling greater sensitivity, while reducing prime power and cost. TriQuint Gallium Nitride Product Innovation, Honors & Resources: ---------------------------------------------------------------------------------- HeritageLeader in defense and commercial GaN research since 1999 ---------------------------------------------------------------------------------- ResearchLeader in performance and reliability GaN development ---------------------------------------------------------------------------------- University PartnersMassachusetts Institute of Technology & University of Notre Dame ---------------------------------------------------------------------------------- Recent Honors2011 'Compound Semiconductor' CS Industry Award for DARPA 'NEXT' ---------------------------------------------------------------------------------- Active R&D ProgramsAir Force Research Laboratory (AFRL) & DARPA E-mode GaN program developing integrated variable drain voltage supplies for power amplifiers ---------------------------------------------------------------------------------- AFRL GaN modules for mini-CDLs in UAVs --------------------------------------------------------------- DARPA NEXT program for highly complex, high frequency GaN MMICs --------------------------------------------------------------- Title III program for GaN on SiC; Radar/EW MMICs: AFRL, ONR & NRL sponsors --------------------------------------------------------------- GaN ProductsWide selection of innovative GaN amplifiers, transistors and switches ---------------------------------------------------------------------------------- GaN Foundry0.25-micron GaN on SiC; 100mm wafers; DC-18 GHz applications ----------------------------------------------------------------------------------
For more information about TriQuint defense and aerospace products, visit us at triquint.com, or register to receive product updates and TriQuint's newsletter.
FORWARD-LOOKING STATEMENTS
This TriQuint Semiconductor, Inc. (TQNT) press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that forward-looking statements involve risks and uncertainties. The cautionary statements made in this press release should be read as being applicable to all related statements wherever they appear. Statements containing such words as 'leading', 'exceptional', 'high efficiency', 'key role', 'leading supplier', or similar terms are considered to contain uncertainty and are forward-looking statements. A number of factors affect TriQuint's operating results and could cause its actual future results to differ materially from any results indicated in this press release or in any other forward-looking statements made by, or on behalf of, TriQuint including, but not limited to: those associated with the unpredictability and volatility of customer acceptance of and demand for our products and technologies, the ability of our production facilities and those of our vendors to meet demand, the ability of our production facilities and those of our vendors to produce products with yields sufficient to maintain profitability, as well as the other "Risk Factors" set forth in TriQuint's most recent 10-Q report filed with the Securities and Exchange Commission. This and other reports can be found on the SEC web site, sec.gov. A reader of this release should understand that these and other risks could cause actual results to differ materially from expectations expressed / implied in forward-looking statements.
FACTS ABOUT TRIQUINT
Founded in 1985, TriQuint Semiconductor (TQNT) is a leading global provider of innovative RF solutions and foundry services for the world's top communications, defense and aerospace companies. People and organizations around the world need real-time, all-the-time connections; TriQuint products help reduce the cost and increase the performance of connected mobile devices and the networks that deliver critical voice, data and video communications. With the industry's broadest technology portfolio, recognized R&D leadership, and expertise in high-volume manufacturing, TriQuint creates standard and custom products using gallium arsenide (GaAs), gallium nitride (GaN), surface acoustic wave (SAW) and bulk acoustic wave (BAW) technologies. The company has ISO9001-certified manufacturing facilities in the U.S., production in Costa Rica, and design centers in North America and Germany. For more information, visit triquint.com.
TriQuint: Connecting the Digital World to the Global Network(R)
SOURCE: TriQuint Semiconductor, Inc.
TriQuint Semiconductor, Inc. Media Contact: Strategic Marketing Communications Mgr. Mark W. Andrews, +1 407-884-3404 Mobile: +1 407-353-8727 mark.andrews@tqs.com or Defense Solutions Marketing: Defense Products & Foundry Services Marketing Director Roger Hall, +1 972-994-8289 roger.hall@tqs.com |
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From: Savant | 2/3/2012 12:52:02 PM | | | | TriQuint Foundry Supports Sarda Technologies' Entry into Global Smartphone & Mobile PC Market
Sarda's High-Efficiency Solutions Can Extend Mobile Device Battery Life & Reduce Costs
HILLSBORO, Ore., Feb 03, 2012 (BUSINESS WIRE) -- TriQuint Semiconductor, Inc. (TQNT), a leading RF solutions supplier and technology innovator, today announced that its Foundry Services division is supporting start-up Sarda Technologies to bring a new line of high-efficiency DC-DC converter switches to the global marketplace. Sarda, a 'clean-tech' company based in Durham, North Carolina (USA), plans to offer cost-saving solutions for increasing efficiency and reducing component size in smartphones, mobile PCs and similar applications.
"Sarda Technologies is a good example of the innovative commercial and defense start-ups our Foundry Services division supports. Sarda is developing an impressive family of power semiconductors for high-volume applications," remarked VP and General Manager for Defense Products and Foundry Services, James L. Klein. "We offer a complete support system that enables a company's first-to-market strategies including best-in-class modeling, program management and applications engineering teams dedicated to customer success."
The global market demand for highly-efficient DC-DC switches for power converters is significant. According to the Darnell Group's December 2011 report*, the market is projected to grow from nearly 20 billion units in 2011 to just under 32 billion units in 2016, a 9.7% compound annual growth rate (CAGR); global revenue is expected to grow to $4.3 billion.
Power switching process technology currently utilized in DC-DC converters is not highly efficient. The switch is seen as an increasingly critical consumer electronics design element since power consumption dramatically impacts end-user product experiences. The higher efficiency, reduced size and cost-effectiveness of compound semiconductor-based technologies can be a definitive marketplace advantage.
Jeff Shepard, Darnell Group President said, "Sustained growth built on delivering improved DC-DC converters depends on innovative solutions. Sarda is a good example of a high tech company striving to deliver products that aim to meet these emerging requirements. TriQuint's ability to deliver proven, high-volume foundry services and direct experience manufacturing products for smartphones and mobile PC's can enable Sarda's market plans and growth."
"TriQuint's foundry business enables Sarda to quickly and cost-effectively develop a power semiconductor product line," said Bob Conner, Sarda's CEO and Co-Founder. "Sarda employs TriQuint's proven high-volume manufacturing processes to bring the performance advantages of compound semiconductors to cost-sensitive power electronics applications."
For more information about TriQuint Foundry Services, including high-efficiency and low-noise gallium arsenide (GaAs) processes and 0.25-micron gallium nitride (GaN) on SiC services, visit the foundry online, or register to receive product and foundry process updates and TriQuint's newsletter.
*Worldwide DC-DC Converter IC Forecasts: Applications, Amperages and Emerging Designs; December 2011; Darnell Group market report.
FORWARD LOOKING STATEMENTS This TriQuint Semiconductor, Inc. (TQNT) press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that forward-looking statements involve risks and uncertainties. The cautionary statements made in this press release should be read as being applicable to all related statements wherever they appear. Statements containing such words as 'leading', 'exceptional', 'high efficiency', 'key role', 'leading supplier', or similar terms are considered to contain uncertainty and are forward-looking statements. A number of factors affect TriQuint's operating results and could cause its actual future results to differ materially from any results indicated in this press release or in any other forward-looking statements made by, or on behalf of, TriQuint including, but not limited to: those associated with the unpredictability and volatility of customer acceptance of and demand for our products and technologies, the ability of our production facilities and those of our vendors to meet demand, the ability of our production facilities and those of our vendors to produce products with yields sufficient to maintain profitability, as well as the other "Risk Factors" set forth in TriQuint's most recent 10-Q report filed with the Securities and Exchange Commission. This and other reports can be found on the SEC web site, sec.gov. A reader of this release should understand that these and other risks could cause actual results to differ materially from expectations expressed / implied in forward-looking statements.
FACTS ABOUT TRIQUINT Founded in 1985, TriQuint Semiconductor (TQNT) is a leading global provider of innovative RF solutions and foundry services for the world's top communications, defense and aerospace companies. People and organizations around the world need real-time, all-the-time connections; TriQuint products help reduce the cost and increase the performance of connected mobile devices and the networks that deliver critical voice, data and video communications. With the industry's broadest technology portfolio, recognized R&D leadership, and expertise in high-volume manufacturing, TriQuint creates standard and custom products using gallium arsenide (GaAs), gallium nitride (GaN), surface acoustic wave (SAW) and bulk acoustic wave (BAW) technologies. The company has ISO9001-certified manufacturing facilities in the U.S., production in Costa Rica, and design centers in North America and Germany. For more information, visit triquint.com.
TriQuint: Connecting the Digital World to the Global Network(R)
FACTS ABOUT SARDA Sarda Technologies, Inc. is a fabless power semiconductor company based in Durham, NC (USA). Sarda's products are used in DC-DC voltage converters for portable, enterprise and consumer systems. Sarda's highly efficient power semiconductors reduce power loss, increase system performance and extend battery life while reducing system size, weight and cost.
SOURCE: TriQuint Semiconductor, Inc.
TriQuint Media Contact: TriQuint Semiconductor, Inc. Mark Andrews Strategic Marketing Communications Manager +1-407-884-3404 mark.andrews@tqs.com or TriQuint Foundry Services: TriQuint Semiconductor, Inc. Bryan Bothwell Strategy and Business Development Manager, +1-503-615-9375 bryan.bothwell@tqs.com or Sarda Technologies: Sarda Technologies, Inc. Bob Conner CEO, Co-Founder +1-919-757-6825 bconner@sardatech.com |
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From: Captain Kana | 2/16/2012 6:15:22 PM | | | | So I bought some shares after reading about the Apple tie in. It climbed nicely up to earnings, and then took a little hit. Seems to have stabilized. Insider buying back in the fall. Any comments? |
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To: Captain Kana who wrote (940) | 2/21/2012 4:03:17 AM | From: PLegee | | | I'm struggling to get a handle on this company, I also bought into the stock based upon the AAPL supply connection. Though I realize an AAPL customer reliance can be a two edge sword, TNQT has a significant non-AAPL customer base as well. However, I can't seem to get a clear perspective yet as to where/how future innovation/customers can potentially expand future market share.
I believe recent price momentum continues along with the general market indices into summer. I will hold going into the next earnings report and continue to research in the interim. I do see this company's success being caught up in the draft of AAPL momentum, however, an identity that could prove to be rewarding short term as AAPL drives to $600. |
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From: Savant | 2/21/2012 1:03:16 PM | | | | TriQuint Builds Momentum with Industry's Smallest Transmit Modules, Delivering Design Flexibility for 2G / 3G / 4G Mobile Devices
HILLSBORO, Ore., Feb 21, 2012 (BUSINESS WIRE) -- TriQuint Semiconductor, Inc. (TQNT), a leading RF solutions supplier and technology innovator, is building market momentum with two QUANTUM Tx(TM) modules that are 40% smaller than the previous generation. These transmit modules integrate TriQuint's new ultra-small GSM core, and enable more flexibility for smartphones, feature phones and low-cost voice-only phones.
"Design innovations have enabled cost and size breakthroughs without compromising performance," said Shane Smith, Vice President of Global Marketing for Mobile Devices. "Our 2G QUANTUM Tx(TM) module has already made significant inroads in the GSM market. Our new 3G/4G QUANTUM Tx module pairs with our new TRITIUM Duo(TM) family of dual-band PA-duplexer modules to create the industry's smallest, high-performance RF solution for global 3G/4G wireless devices."
Some of the world's leading mobile handset manufacturers have selected TriQuint's new QUANTUM Tx modules, including Samsung, Huawei and ZTE. TriQuint has seen success with previous generations of its QUANTUM Tx modules; to date, more than 150 million units have shipped. "We expect to ship more than 100 million QUANTUM Tx modules in the next 18 months alone, making it one of the highest volume product lines in our factory," Smith said. TriQuint increased manufacturing capacity by 40 percent in 2011 to support customer demand for its growing mobile device portfolio.
Shipping in volume since mid-2011, TriQuint's 2G (GSM) QUANTUM Tx module, TQM6M4068, offers phone designers full GaAs HBT performance and a small size to enable flexible designs. At 5x6mm, the TQM6M4068 is the industry's smallest Tx module and won "Best Product" in the 2011 EDN China Innovation Award program for the communications and networks front-end category. Approved for MediaTek's chipset reference design, the new product has been chosen for many new 2G phone platforms. "Close to 1.5 billion GSM based phones will be produced this year," said Neil Shah, an analyst with research firm Strategy Analytics. "Virtually all 3G and 4G capable phones incorporate 2G access technology, and 2G remains the dominant wireless communication technology in many areas of the world."
Shipping in volume since January 2012, TriQuint's TQM6M9069 QUANTUM Tx module features the same small 5x6 mm footprint, making it the smallest 3G/4G transmit module in the market. This new part simplifies mobile device design and showcases TriQuint's strength in integration, since it includes a GSM/GPRS power amplifier and WCDMA antenna switch. TriQuint plans to expand the QUANTUM Tx module family in the months ahead with product solutions that incorporate additional switch ports to support more frequency bands.
Technical Details
The QUANTUM Tx transmit modules implement proprietary TriQuint CuFlip(TM) technology to replace wire bonds with copper bumps; this saves board real estate and enables superior system performance by eliminating noise-radiating wires. The copper bumps also dissipate heat better than traditional interconnect techniques. The QUANTUM Tx modules offer improved system efficiency and full RF transmit functionality in a compact size of only 30 mm.
New Family of TriQuint QUANTUM Tx(TM) Modules ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Part #DescriptionBandsFeaturesSize ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- TQM6M4068 Dual-band Tx Module with PA/LPF/SP4T Switch, Quad-Band Tx &GSM900/DCSHigh Efficiency Broadband Tx, 2 Rx Ports5 x 6 x 1 mm Dual-Band Rxor GSM850/PCS ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- TQM6M9069 Dual-band Tx Module, including PA/LPF/SP6T WGPRS Switch withGSM900/DSCIntegrated Dual-Band GSM/GPRSA & 2 WCDMA Antenna Switch Ports5 x 6 x 1 mm Dual-Band WCDMA Antenna Portsor GSM850/PCS & 2 WCDMA/LTE Bands ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
FORWARD LOOKING STATEMENTS
This TriQuint Semiconductor, Inc. (TQNT) press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that forward-looking statements involve risks and uncertainties. The cautionary statements made in this press release should be read as being applicable to all related statements wherever they appear. Statements containing such words as 'leading', 'smallest', 'high efficiency', 'without compromising performance', or similar terms are considered to contain uncertainty and are forward-looking statements. A number of factors affect TriQuint's operating results and could cause its actual future results to differ materially from any results indicated in this press release or in any other forward-looking statements made by, or on behalf of, TriQuint including, but not limited to: those associated with the unpredictability and volatility of customer acceptance of and demand for our products and technologies, the ability of our production facilities and those of our vendors to meet demand, the ability of our production facilities and those of our vendors to produce products with yields sufficient to maintain profitability, as well as the other "Risk Factors" set forth in TriQuint's most recent 10-Q report filed with the Securities and Exchange Commission. This and other reports can be found on the SEC web site, sec.gov. A reader of this release should understand that these and other risks could cause actual results to differ materially from expectations expressed / implied in forward-looking statements.
FACTS ABOUT TRIQUINT
Founded in 1985, TriQuint Semiconductor (TQNT) is a leading global provider of innovative RF solutions and foundry services for the world's top communications, defense and aerospace companies. People and organizations around the world need real-time, all-the-time connections; TriQuint products help reduce the cost and increase the performance of connected mobile devices and the networks that deliver critical voice, data and video communications. With the industry's broadest technology portfolio, recognized R&D leadership, and expertise in high-volume manufacturing, TriQuint creates standard and custom products using gallium arsenide (GaAs), gallium nitride (GaN), surface acoustic wave (SAW) and bulk acoustic wave (BAW) technologies. The company has ISO9001-certified manufacturing facilities in the U.S., production in Costa Rica, and design centers in North America and Germany. For more information, visit triquint.com.
TriQuint: Connecting the Digital World to the Global Network(R)
Photos/Multimedia Gallery Available: businesswire.com
SOURCE: TriQuint Semiconductor, Inc.
Media Contact: TriQuint Semiconductor, Inc. Brandi Frye Director, Marketing Comms +1.503.615.9488 brandi.frye@tqs.com |
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From: Savant | 4/11/2012 4:26:13 PM | | | | TriQuint Announces Date for First Quarter 2012 Earnings Release
HILLSBORO, Ore., Apr 11, 2012 (BUSINESS WIRE) -- TriQuint Semiconductor, Inc. (TQNT), a leading RF solutions supplier and technology innovator, will announce its first quarter results on April 25, 2012 at 1:00 p.m. PDT and will host a conference call with the investment community on the same day at 2:00 p.m. PDT. Conference Call Information: Date:Wednesday, April 25, 2012 Time:2:00 p.m. (PDT) Dial-in:888.813.6582 or 706.643.7082 Conference Call ID #:60103883
A webcast of the conference call will be available from the Investors section of the Company's website at invest.triquint.com. A replay of the conference call will be available through May 2, 2012. To access the replay, please dial (855) 859-2056 and enter Conference ID # 60103883.
Facts About TriQuint
Founded in 1985, TriQuint Semiconductor (TQNT) is a leading RF solutions supplier and technology innovator for the world's top communications, defense and aerospace companies. People and organizations around the world need real-time, all-the-time connections; TriQuint products help reduce the cost and increase the performance of connected mobile devices and the networks that deliver critical voice, data and video communications. With the industry's broadest technology portfolio, recognized R&D leadership, and expertise in high-volume manufacturing, TriQuint creates standard and custom products using gallium arsenide (GaAs), gallium nitride (GaN), surface acoustic wave (SAW) and bulk acoustic wave (BAW) technologies. The company has ISO9001-certified manufacturing facilities in the U.S., production in Costa Rica, and design centers in North America and Germany. For more information, visit triquint.com.
TQNT-F
TriQuint: Connecting the Digital World to the Global Network?
SOURCE: TriQuint Semiconductor, Inc.
TriQuint Semiconductor, Inc. VP of Finance & Administration, CFO Steve Buhaly, +1-503-615-9401 sbuhaly@tqs.com or Director, Investor Relations Roger Rowe, +1-503-615-9189 roger.rowe@tqs.com or Media Contact: Director, Marketing Comms Brandi Frye, +1-503-615-9488 bfrye@tqs.com |
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From: Savant | 4/16/2012 9:42:21 AM | | | | TriQuint Signs U.S. Army Agreement to Support GaN Device Development
TriQuint's Gallium Nitride Leadership in DARPA Programs Led to Beneficial Joint Development Program with the ARL
HILLSBORO, Ore. & RICHARDSON, Texas, Apr 16, 2012 (BUSINESS WIRE) -- TriQuint Semiconductor, Inc. (TQNT), a leading RF solutions supplier and technology innovator, today announced that it has signed a Cooperative Research and Development Agreement (CRADA) with the U.S. Army Research Laboratory (ARL) to explore and fabricate new high-frequency and mixed signal integrated circuits (ICs) based on TriQuint gallium nitride (GaN) technology. The CRADA is designed to accelerate new programs supporting communications, radar, electronic warfare and similar applications.
The CRADA will give Army researchers dedicated access to TriQuint's development, fabrication and packaging expertise. Researchers from both TriQuint and the ARL will benefit from the new co-development environment. Circuits created as part of the initiative are expected to be based on TriQuint's new E/D (enhancement-depletion mode) GaN technology.
The new agreement leverages technology TriQuint created through on-going R&Dprograms. This GaN process has been utilized in Defense Advanced Research Projects Agency (DARPA) initiatives, including the Nitride Electronic NeXt-Generation (NEXT) program that TriQuint now leads. Through NEXT, TriQuint continues to establish benchmark performance standards for mixed-signal (digital and RF) devices. TriQuint GaN achievements also led to its selection as a prime contractor in the Microscale Power Conversion (MPC) program that is developing ultra-fast, high power DC-DC switch modulator technology for advanced integrated RF amplifiers. TriQuint's role in MPC was recognized by Compound Semiconductor magazine on March 12 with a 2012 CS Industry Award.
"Creative partnerships through Cooperative Research and Development Agreements encourage outside businesses and university organizations to share in the discovery of and investment in technologies. In this case, ARL is leveraging industrial fabrication capabilities allowing ARL to maximize its return on investment," said John Miller, Army Research Laboratory Director. "These advanced IC processes, coupled with ARL's design expertise, could lead to innovations and advancements in both military and consumer applications in communications, radar and electronic warfare."
"TriQuint's gallium nitride research leads the industry. This new CRADA is another example of ways that our work in one program benefits other DoD agencies and service branches. We will provide access to our extensive development capabilities and the ARL will provide designs and test circuits in support of their advanced programs," said James L. Klein, TriQuint Vice President and General Manager for Defense Products and Foundry Services.
TriQuint's new agreement with the ARL is designed to stimulate high performance monolithic microwave integrated circuit (MMIC) development. The ARL's design and testing capabilities will be leveraged with TriQuint's MMIC fabrication, testing and packaging expertise. Both TriQuint and ARL researchers will work towards identifying circuits of mutual interest that have the potential to advance state-of-the-art design programs.
TriQuint has been a pioneer in GaN development and research since 1999. TriQuint currently leads multiple GaN process and manufacturing technology programs for DARPA, the US Air Force, Army and Naval laboratories including the Defense Production Act Title III manufacturing enhancement program. TriQuint has also led two other DARPA programs that were part of the Wide Bandgap Semiconductor (WBGS) RF research initiative. TriQuint Gallium Nitride Product Innovation, Honors & Resources: HeritageLeader in defense and commercial GaN research since 1999 ---------------------------------------------------------------------------------------------------------- ResearchLeader in performance and reliability GaN development ---------------------------------------------------------------------------------------------------------- University PartnersMassachusetts Institute of Technology, University of Notre Dame and University of Colorado at Boulder ---------------------------------------------------------------------------------------------------------- The Global GaN ImpactStrategy Analytics recognizes TriQuint's GaN R&D / GaN Product Innovation ---------------------------------------------------------------------------------------------------------- Active R&D programsDARPA NEXT program for highly complex, high frequency GaN MMICs ---------------------------------------------------------------------------------------------------------- Defense Production Act (DPA) Title III program for GaN on SiC; Radar and EW MMICs: Air Force and Navy sponsors ------------------------------------------------------------------------------------- DARPA Microscale Power Conversion program to develop ultra-fast power switch technology and integrate technology into next-generation amplifiers ------------------------------------------------------------------------------------- DARPA Near Junction Thermal Transport (NJTT) GaN program to increase circuit power handling capabilities through enhanced thermal management ------------------------------------------------------------------------------------- Recent Honors2011 'Compound Semiconductor' CS Industry Award for DARPA NEXT; 2012 CS Industry Award for DARPA MPC program ---------------------------------------------------------------------------------------------------------- GaN ProductsWide selection of innovative GaN amplifiers, transistors and switches ---------------------------------------------------------------------------------------------------------- GaN Foundry0.25-micron GaN on SiC; 100mm wafers; DC-18 GHz applications ----------------------------------------------------------------------------------------------------------
For more information about TriQuint defense / aerospace products and foundry services, including GaN-based amplifiers, transistors, high-power switches and integrated assembly capabilities, visit us at triquint.com, or register to receive product updates and TriQuint's newsletter.
FORWARD LOOKING STATEMENTS |
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From: Savant | 4/27/2012 8:25:19 PM | | | | TriQuint Announces First Quarter 2012 Results
HILLSBORO, Ore., Apr 25, 2012 (BUSINESS WIRE) -- TriQuint Semiconductor, Inc. (TQNT), a leading RF solutions supplier and technology innovator, announces its financial results for the quarter ended March 31, 2012, including the following highlights:
-- Revenues for the quarter were $216.7 million
-- GAAP net income for the quarter was $1.9 million, or $0.01 per diluted share
-- Non-GAAP net income for the quarter was $4.1 million, or $0.02 per diluted share
-- Opened TriQuint International headquarters in Singapore, strengthening customer relationships and supply chain efficiencies
-- Reached a significant milestone in production shipments of GaN products for S-band radars
-- New Multi-mode and Quad-band PA modules now shipping in Samsung Galaxy SII and Huawei Honor smartphones
Commenting on the results for the quarter ended March 31, 2012, Ralph Quinsey, President and Chief Executive Officer, stated, "Our revenue was better than normal seasonality in the first quarter and we saw signs of improvement in some of our infrastructure markets. While we anticipate a challenging second quarter in the mobile devices market, specifically with our largest customer, I believe this dip will be temporary and remain confident about our long term position. We have achieved design win success with our new products and I believe we will return to normal revenue levels and growth in the second half of 2012."
Summary Financial Results for the Three Months Ended March 31, 2012:
Revenues for the first quarter of 2012 were $216.7 million, down 3% from the first quarter of 2011 and down 5% sequentially. Networks market revenue grew 10% sequentially while mobile devices market revenue and defense & aerospace market revenue decreased 8% and 4%, respectively.
GAAP
Gross margin for the first quarter of 2012 was 28.9%, down sequentially from 29.5%.
Operating expenses for the first quarter of 2012 were $66.2 million, or 31% of revenue, up from $61.6 million in the previous quarter partially due to an increase in litigation expenses.
Net income for the first quarter of 2012 was $1.9 million or $0.01 per diluted share, down from $4.3 million, or $0.03 per diluted share, in the previous quarter. Included in net income was a gain on a previously impaired investment of $7.0 million.
Cash and investments grew by $32.6 million to $194.9 million in the quarter due primarily to improved working capital management and lower capital expenditures.
Non-GAAP
Gross margin for the first quarter was 30.4%, slightly down sequentially from 31.0%.
Operating expenses for the quarter were $61.4 million, or 28% of revenue, up from $56.9 million in the prior quarter.
Net income for the first quarter of 2012 was $4.1 million, or $0.02 per diluted share, down sequentially from $0.08 per diluted share.
Please see the discussion of non-GAAP financial measures below and the attached supplemental schedule for a reconciliation of GAAP to non-GAAP financial measures.
Outlook:
The Company believes second quarter 2012 revenues will be between $170 million and $185 million and non-GAAP gross margin is expected to be between 27% and 29%. Second quarter non-GAAP net loss per share is expected to be between $0.10 and $0.15 due to weak revenue and higher litigation costs. The Company expects to return to normal revenue levels in the second half of 2012. The Company is 91% booked to the midpoint of revenue guidance.
As part of a planned transition in filter packaging technology and due to a change in product mix, the Company plans to restructure its filter related operations during the second quarter. The Company expects to record a GAAP restructuring charge of between $12 and $14 million, consisting of a non-cash charge for excess equipment of between $10 and $12 million and a cash charge for the remainder that is primarily related to severance costs.
Additional Information Regarding March 31, 2012 Results:
GAAP and non-GAAP financial measures are presented in the tables below (in millions, except for percentage and per share information). Non-GAAP financial measures are reconciled to the corresponding GAAP financial measures in the financial statement portion of this press release.
GAAP RESULTS -------------------------------------------------------------------------------------------- Three Months Ended -------------------------------------------------------------------------- Q1 2012Q4 2011ChangeQ1 2011Change vs.vs. Q4Q1 20112011 ------------------------------------------------------- Revenue$ 216.7$ 227.0(5)%$ 224.3(3)% --- -------- --------------------- ------------------ Gross Profit$62.6$67.0(7)%$87.4(28)% --- -------- --------------------- ------------------ Gross Margin %28.9 %29.5 %(0.6)%39.0 %(10.1)% ----------------------------------------------------------------- Op (Loss) Income$(3.6)$5.4(167)%$20.3(118)% --- ----- ------ --------------------- ------------------ Net Income$1.9$4.3(56)%$12.4(85)% --- -------- --------------------- ------------------ Diluted EPS$0.01$0.03$ (0.02)$0.07$ (0.06) --- -------- -------- ----- ------ -------- ----- --- NON-GAAP RESULTS A -------------------------------------------------------------------------------------------- Three Months Ended -------------------------------------------------------------------------- Q1 2012Q4 2011ChangeQ1 2011Change vs.vs. Q4Q1 20112011 ------------------------------------------------------- Revenue$ 216.7$ 227.0(5)%$ 224.3(3)% --- -------- --------------------- ------------------ Gross Profit$65.8$70.3(6)%$89.7(27)% --- -------- --------------------- ------------------ Gross Margin %30.4 %31.0 %(0.6)%40.0 %(9.6)% ----------------------------------------------------------------- Op Income$4.4$13.4(67)%$26.5(83)% --- -------- --------------------- ------------------ Net Income$4.1$13.3(69)%$26.1(84)% --- -------- --------------------- ------------------ Diluted EPS$0.02$0.08$ (0.06)$0.15$ (0.13) --- -------- -------- ----- ------ -------- ----- --- AExcludes stock based compensation charges, non-cash tax expense, certain entries associated with acquisitions, and other specifically identified non-routine transactions.
Conference Call:
TriQuint will host a conference call this afternoon at 2:00 p.m. PDT to discuss the results for the quarter and our future expectations for the company. To access the conference call, please dial (888) 813-6582 domestically, or (706) 643-7082 internationally, approximately ten minutes prior to the beginning of the call, using passcode 60103883. The call can also be heard via webcast accessed through the "Investors" section of TriQuint's web site at: invest.triquint.com. A replay of the conference call will be available until May 2, 2012.
Non-GAAP Financial Measures:
This press release provides financial measures for non-GAAP net income, diluted earnings per share, gross profit, operating expenses and operating income (loss) that exclude equity compensation expense, non-cash tax expense, certain entries associated with acquisitions, and other specifically identified non-routine items, and are therefore not calculated in accordance with accounting principles generally accepted in the United States ("GAAP"). The charges associated with acquisitions reflect the amortization of intangible and tangible assets recorded in connection with acquisition accounting and charged to the income statement. The non-cash tax expense excludes certain deferred tax charges and benefits that do not result in a tax payment or tax refund. Management believes that these non-GAAP financial measures provide meaningful supplemental information that enhances management's and investors' ability to evaluate TriQuint's operating results.
These non-GAAP financial measures are not intended to be used in isolation and should not be considered a substitute for any other performance measure determined in accordance with GAAP. Investors and potential investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool, including that other companies may calculate similar non-GAAP financial measures differently than we do, limiting their usefulness as a comparative tool. The company compensates for these limitations by providing specific information regarding the GAAP amount excluded from the non-GAAP financial measures. The company further compensates for the limitations of our use of non-GAAP financial measures by presenting comparable GAAP measures more prominently. Investors and potential investors are encouraged to review the reconciliation of non-GAAP financial measures contained within this press release with our GAAP net income and net income per share.
Forward-Looking Statements:
This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding TriQuint's anticipated revenues, non-GAAP gross margin and net loss and our bookings to revenue; TriQuint's factory utilization and product mix; customer design wins; expected litigation charges; the impact of our investments in increased capacity; the opportunity to be at the leading edge of RF solutions; growth in demand for TriQuint's products; improvement in the networks market; RF content expansion in smartphones; challenges and opportunities in the mobile devices market; expected market growth; and restructuring TriQuint's filter related operations. These forward-looking statements are statements of management's opinion and are subject to various assumptions, risks, uncertainties and changes in circumstances. Actual results may vary materially from those expressed or implied in the statements herein or from historical results, due to changes in economic, business, competitive, technological and/or regulatory factors. More detailed information about risk factors that may affect actual results are set forth in TriQuint's reports on Form 10-K and 10-Q and other filings with the Securities and Exchange Commission. These reports can be accessed at the SEC web site, sec.gov. Except as required by law, TriQuint undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements.
A reader of this release should understand that it is not possible to predict or identify all risk factors and should not consider the risk factors described in TriQuint's filings with the Securities and Exchange Commission to be a complete statement of all potential risks and uncertainties.
Facts About TriQuint
Founded in 1985, TriQuint Semiconductor (TQNT) is a leading RF solutions supplier and technology innovator for the world's top communications, defense and aerospace companies. People and organizations around the world need real-time, all-the-time connections; TriQuint products help reduce the cost and increase the performance of connected mobile devices and the networks that deliver critical voice, data and video communications. With the industry's broadest technology portfolio, recognized R&D leadership, and expertise in high-volume manufacturing, TriQuint creates standard and custom products using gallium arsenide (GaAs), gallium nitride (GaN), surface acoustic wave (SAW) and bulk acoustic wave (BAW) technologies. The company has ISO9001-certified manufacturing facilities in the U.S., production in Costa Rica, and design centers in North America and Germany. For more information, visit triquint.com.
TQNT-F
TriQuint: Connecting the Digital World to the Global Network(R)
TriQuint Semiconductor, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands) March 31,December 31, 20122011 ---------------------------- Assets Current assets: Cash and cash equivalents$146,085$116,305 Investments in marketable securities48,82246,006 Accounts receivable, net104,837129,103 Inventories145,507151,577 Prepaid expenses8,7607,051 Deferred tax assets, net11,85711,857 Other current assets45,67535,756 ------------------ Total current assets511,543497,655 Property, plant and equipment, net461,843469,943 Goodwill3,3763,376 Intangible assets, net21,16922,732 Deferred tax assets - noncurrent, net48,95748,957 Other noncurrent assets, net13,47212,605 ------------------ Total assets$ 1,060,360$ 1,055,268 ==== =============== ========= Liabilities and Stockholders' Equity Current liabilities: Accounts payable$57,933$67,812 Accrued payroll29,69728,519 Other accrued liabilities13,2479,901 ------------------ Total current liabilities100,877106,232 Long-term liabilities: Long-term income tax liability1,736735 Other long-term liabilities10,83711,013 ------------------ Total liabilities113,450117,980 Stockholders' equity: Common stock166166 Additional paid-in capital686,151678,412 Accumulated other comprehensive income140140 Retained earnings260,453258,570 ------------------ Total stockholders' equity946,910937,288 ------------------ Total liabilities and stockholders' equity$ 1,060,360$ 1,055,268 ==== =============== =========
TriQuint Semiconductor, Inc. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In thousands, except per share amounts) Three Months Ended --------------------------------------------------- March 31,December 31,April 2, 201220112011 ---------------------------------------- Revenues$ 216,730$ 226,987$ 224,323 Cost of goods sold154,141159,948136,929 ------------------------------------- Gross profit62,58967,03987,394 Operating expenses: Research, development and engineering37,07435,99236,476 Selling, general and administrative25,22223,36425,229 Litigation expense3,8642,2565,399 ------------------------------------- Total operating expenses66,16061,61267,104 Operating (loss) income(3,571)5,42720,290 Other income (expense): Interest income4944104 Interest expense(350)(460)(387) Foreign currency gain (loss)3616(56) Gain/recovery of investment6,953495151 Other, net741823 ------------------------------------- Other income (expense), net6,762113(165) Income before income tax3,1915,54020,125 Income tax expense1,3081,2327,686 ------------------------------------- Net income$1,883$4,308$12,439 === =========== ========== ======= Per Share Data: Basic per share net income$0.01$0.03$0.08 Diluted per share net income$0.01$0.03$0.07 Weighted-average shares outstanding: Basic166,237165,711162,413 Diluted170,566168,753172,822
TriQuint Semiconductor, Inc. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (% of revenue) Three Months Ended -------------------------------------- March 31,December 31,April 2, 201220112011 ------------------------------ Revenues100.0 %100.0 %100.0 % Cost of goods sold71.1 %70.5 %61.0 % ----- ---------- ----------- ---- Gross profit28.9 %29.5 %39.0 % Operating expenses: Research, development and engineering17.1 %15.9 %16.3 % Selling, general and administrative11.6 %10.3 %11.3 % Litigation expense1.8 %0.9 %2.4 % ----- ---------- ----------- ---- Total operating expenses30.5 %27.1 %30.0 % Operating (loss) income(1.6)%2.4 %9.0 % Other income (expense): Interest income0.0 %0.0 %0.1 % Interest expense(0.2)%(0.2)%(0.2)% Foreign currency gain (loss)0.0 %0.0 %(0.0)% Gain/recovery of investment3.2 %0.2 %0.1 % Other, net0.1 %0.0 %0.0 % ----- ---------- ----------- ---- Other income (expense), net3.1 %0.0 %(0.0)% Income before income tax1.5 %2.4 %9.0 % Income tax expense0.6 %0.5 %3.5 % ----- ---------- ----------- ---- Net income0.9 %1.9 %5.5 % ===== ========== =========== ====
TriQuint Semiconductor, Inc. SUPPLEMENTAL RECONCILIATION OF GAAP TO NON-GAAP RESULTS (Unaudited) (Dollars in thousands, except per share amounts) Three Months Ended ----------------------------------------------------------------------- March 31, 2012December 31, 2011April 2, 2011 --------------------------------------------------- (% of revenues)(% of revenues)(% of revenues) GAAP GROSS PROFIT$ 62,58928.9 %$ 67,03929.5 %$ 87,39439.0 % Adjustment for stock based compensation charges2,1061.0 %2,2071.0 %1,2190.5 % Adjustment for charges associated with acquisitions1,0950.5 %1,0790.5 %1,0650.5 % --------------- ----------------- ----------------- -- NON-GAAP GROSS PROFIT$ 65,79030.4 %$ 70,32531.0 %$ 89,67840.0 % GAAP OPERATING EXPENSES$ 66,16030.5 %$ 61,61227.1 %$ 67,10430.0 % Adjustment for stock based compensation charges(4,591)(2.1)%(4,532)(2.0)%(3,686)(1.7)% Adjustment for charges associated with acquisitions(202)(0.1)%(202)(0.1)%(216)(0.1)% ----------------- ------------------- ------------------- -- NON-GAAP OPERATING EXPENSES$ 61,36728.3 %$ 56,87825.0 %$ 63,20228.2 % GAAP OPERATING INCOME$ (3,571)(1.6)%$5,4272.4 %$ 20,2909.0 % Adjustment for stock based compensation charges6,6973.1 %6,7393.0 %4,9052.2 % Adjustment for charges associated with acquisitions1,2970.6 %1,2810.6 %1,2810.6 % --------------- ----------------- ----------------- -- NON-GAAP OPERATING INCOME$4,4232.1 %$ 13,4476.0 %$ 26,47611.8 % GAAP NET INCOME$1,8830.9 %$4,3081.9 %$ 12,4395.5 % Adjustment for stock based compensation charges6,6973.1 %6,7393.0 %4,9052.2 % Adjustment for gain/recovery of investment(6,953)(3.2)%(495)(0.2)%(151)(0.1)% Adjustment for non-cash tax expense1,1430.5 %1,3070.5 %7,6043.4 % Adjustment for charges associated with acquisitions1,3230.6 %1,4020.6 %1,3210.6 % --------------- ----------------- ----------------- -- NON-GAAP NET INCOME$4,0931.9 %$ 13,2615.8 %$ 26,11811.6 % GAAP DILUTED EARNINGS PER SHARE$0.01$0.03$0.07 0.040.040.03 Adjustment for stock based compensation charges (0.04)0.00(0.00) Adjustment for gain/recovery of investment 0.000.000.04 Adjustment for non-cash tax expense 0.010.010.01 Adjustment for charges associated with acquisitions ------------------ NON-GAAP DILUTED EARNINGS PER SHARE$0.02$0.08$0.15
Our earnings release contains forward looking estimates of non-GAAP gross margin and loss per share for the second quarter of 2012. We provide these non-GAAP measures on a prospective basis for the same reasons that we provide them to investors on a historical basis. The following table provides a reconciliation of GAAP gross margin and loss per share to non-GAAP gross margin and loss per share for the second quarter of 2012 based on the mid-point of guidance.
Forward Looking GAAP Gross Margin19.2 % Adjustment for stock based compensation charges1.0 % Adjustment for restructuring7.3 % Adjustment for charges associated with acquisitions0.5 % ----- - Forward Looking non-GAAP Gross Margin28.0 % Forward Looking GAAP Loss per Share$ (0.28) Adjustment for stock based compensation charges0.04 Adjustment for non-cash tax expense0.02 Adjustment for restructuring0.08 Adjustment for charges associated with acquisitions0.01 ----- Forward Looking non-GAAP Loss per Share$ (0.13)
SOURCE: TriQuint Semiconductor, Inc.
TriQuint Semiconductor, Inc. VP of Finance & Administration, CFO Steve Buhaly, +1-503-615-9401 steve.buhaly@tqs.com or Director, Investor Relations Roger Rowe, +1-503-615-9189 roger.rowe@tqs.com or Media Contact: Director, Marketing Comms Brandi Frye, +1-503-615-9488 brandi.frye@tqs.com |
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From: Savant | 5/1/2012 11:25:07 AM | | | | TriQuint Wins New $12.3M GaN DARPA Contract to Develop Ultra-Fast Power Switch Technology
TriQuint's Leadership Developing Highly-Advanced, Mixed-Signal Digital / RF GaN Circuits Led to New Opportunity in MPC Program
HILLSBORO, Ore. & RICHARDSON, Texas, May 01, 2012 (BUSINESS WIRE) -- TriQuint Semiconductor, Inc. (TQNT), a leading RF solutions supplier and technology innovator, today announced that it has been selected by the Defense Advanced Research Projects Agency (DARPA) to lead a $12.3 million development program focused on ultra-fast gallium nitride (GaN) switch technology for the Microscale Power Conversion (MPC) program. TriQuint's revolutionary new GaN modulator has the potential to enable highly-efficient RF transmitters substantially smaller than current solutions.
TriQuint was selected by DARPA as the prime contractor for MPC Technical Area I, which seeks to develop a high-speed, DC-to-DC switch (modulator) and related process technology based on the company's innovative enhancement-mode GaN transistors. TriQuint's technology aims to improve the integration of power switches with advanced RF amplifiers to facilitate ultra-high efficiency, reduced-size amplifiers for radar and communications applications.
TriQuint has been a pioneer in GaN development and research since 1999. TriQuint currently leads multiple GaN process and manufacturing technology initiatives for DARPA including the Nitride Electronic NeXt-Generation Technology (NEXT) program as well as endeavors for the US Air Force, Army and Naval laboratories.
TriQuint is already exploring and bringing derivative devices to market made possible by milestones achieved in its many GaN programs. "The break-through performance demonstrated in 'NEXT' has helped us develop new devices, like our GaN power switches, that will open up additional radar and communications applications. We can substantially improve performance in these types of systems," said TriQuint Vice President and General Manager for Defense Products and Foundry Services, James L. Klein. "This work is also leading to lower voltage GaN-based products. We see many exciting opportunities to develop more advanced RF amplifiers with integrated power switches."
The enhancement mode power switching device for the MPC program will be designed to have a blocking voltage of 200 volts, ultra-low dynamic on resistance of 1 ohm-mm and a slew rate of 500 volts per nanosecond. These capabilities will provide state-of-the-art solid-state technology. RF amplifiers employing these switches will target 75% system efficiency at X-band (8-12 GHz).
TriQuint is teamed with Rockwell Collins, the University of Colorado at Boulder and Northrop Grumman--Technical Area II contractors--to create a new generation of RF power amplifiers that use contour modulation for very high efficiency performance that exceeds the capabilities of devices now available. Design approaches focusing on miniature system-in-a-package or monolithic integration to combine TriQuint's switch / modulator with the power amplifier micro-system will be given preference.
TriQuint Gallium Nitride Product Innovation, Honors & Resources: HeritageLeader in defense and commercial GaN research since 1999 ---------------------------------------------------------------------------------------------------------- ResearchLeader in performance and reliability GaN development ---------------------------------------------------------------------------------------------------------- University PartnersMassachusetts Institute of Technology, University of Notre Dame and University of Colorado at Boulder ---------------------------------------------------------------------------------------------------------- The Global GaN ImpactStrategy Analytics recognizes TriQuint's GaN R&D / GaN Product Innovation ---------------------------------------------------------------------------------------------------------- Active R&D programsDARPA NEXT program for highly complex, high frequency GaN MMICs ---------------------------------------------------------------------------------------------------------- Defense Production Act (DPA) Title III program for GaN on SiC; Radar and EW MMICs: Air Force and Navy sponsors ------------------------------------------------------------------------------------- DARPA Microscale Power Conversion program to develop ultra-fast GaN power switch technology that is integrated into next-generation amplifiers ------------------------------------------------------------------------------------- DARPA Near Junction Thermal Transport (NJTT) GaN program to increase circuit power handling capabilities through enhanced thermal management ------------------------------------------------------------------------------------- Army Research Laboratory (ARL) Cooperative Research and Development Agreement (CRADA) to jointly develop advanced GaN circuits ------------------------------------------------------------------------------------- Recent Honors2011 'Compound Semiconductor' CS Industry Award for DARPA NEXT; 2012 CS Industry Award for DARPA MPC program ---------------------------------------------------------------------------------------------------------- GaN ProductsWide selection of innovative GaN amplifiers, transistors and switches ---------------------------------------------------------------------------------------------------------- GaN Foundry0.25-micron GaN on SiC; 100mm wafers; DC-18 GHz applications ----------------------------------------------------------------------------------------------------------
For more information about TriQuint defense / aerospace products and foundry services, including GaN-based amplifiers, transistors, high-power switches and integrated assembly capabilities, visit us at triquint.com, or register to receive product updates and TriQuint's newsletter.
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From: Savant | 5/4/2012 11:47:00 AM | | | | TriQuint Announces $50 Million Stock Repurchase Program
HILLSBORO, Ore., May 03, 2012 (BUSINESS WIRE) -- TriQuint Semiconductor, Inc. (TQNT), a leading RF solutions supplier and technology innovator, today announced a program authorizing the repurchase of up to $50 million of the Company's common stock through May 2, 2013.
Under this program, stock repurchases may be made from time to time in the open market at prevailing market prices or through privately negotiated transactions at the discretion of Company management. The timing of open market and privately negotiated purchases will be dependent on market conditions and other corporate considerations, including price, corporate and regulatory requirements and alternative investment opportunities. The program is expected to be funded from existing cash balances and cash generated from operations. The Company is not obligated to repurchase any particular amount of common stock during any period and may choose to suspend or discontinue the repurchase program at any time.
Shares of common stock repurchased by the Company through the repurchase program will become authorized but unissued shares. As of May 3, 2012, the Company has approximately 168.2 million shares of common stock outstanding. |
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