RF Micro Devices Announces December 2008 Quarterly Results

GREENSBORO, N.C., Jan. 27, 2009 /PRNewswire-FirstCall/ -- RF Micro Devices, Inc. (Nasdaq: RFMD), a global leader in the design and manufacture of high-performance semiconductor components, today reported financial results for its fiscal 2009 third quarter ended December 27, 2008.

RFMD's December quarterly revenue decreased approximately 25.6% sequentially to $202 million, reflecting a rapidly declining demand environment. GAAP gross margin decreased sequentially from 28.3% to 19.0%, and non-GAAP gross margin decreased from 31.6% to 22.6% during the same period, primarily as a result of the sequential decrease in revenue, low factory utilization rates and inventory-related charges of approximately ($25) million. Operating loss was approximately ($754) million on a GAAP basis, reflecting asset impairment and inventory-related charges, and approximately ($8.3) million on a non-GAAP basis, reflecting reduced revenue and gross profit, partially offset by a reduction in operating expenses. Net loss was approximately ($813.3) million on a GAAP basis and approximately ($12.9) million on a non-GAAP basis. The asset impairment and inventory-related charges for the quarter were consistent with the amounts previously disclosed by RFMD on January 21, 2009.

More at www.rfmd.com.

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