RF Micro Devices Posts Record Quarterly Revenue

In terms of the top line, RF Micro Devices had a quarter for the record books, but that wasn't enough to avoid disappointment from the market.

For its fiscal Q2 2014, revenue notched an all-time high at nearly $311 million, or almost 50% higher than the $210 million in the same period the previous year. Net income swung to a profit of $5.9 million ($0.02 per diluted share), against Q2 2013's $16.5 million ($0.06) loss. On an adjusted basis, those figures were $33.9 million ($0.12) and $7.8 million ($0.03) in the black, respectively. 

The company provided forward guidance for its current Q3. Revenue for the period is anticipated to be flat to 5% higher sequentially, or $311 million to $326 million, with adjusted EPS coming in at $0.13-$0.14. Analysts had been projecting revenue of $326 million in top line, but their EPS estimate matched the low end of the company's range at $0.13.

Following the announcement of the results, RF Micro Devices' stock slipped by nearly 7%, or $0.42, to $5.74 in after-hours trading.

The article RF Micro Devices Posts Record Quarterly Revenue originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in RF Micro Devices. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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