TriQuint Semiconductor forecast another down quarter, and stock fell more than 11%.
TriQuint Semiconductor forecast another down quarter, and stock fell more than 11%.
TriQuint’s third-quarter revenue totaled $216.0 million, down 8.9 percent from the same quarter last year. The company had originally forecast a more modest decline, but revised its forecast downward last month. Today’s results are slightly above the company’s revised forecast.
The wireless chip company remained profitable, earning $16.2 million in the third quarter, 9 cents a share. That compares to a profit of $112.2 million, 69 cents a share, last year when an accounting decision created a one-time increase in profits.
Apple contractor Foxconn is TriQuint’s largest customer, and TriQuint has benefited from several quarters of demand for wireless chips to power the iPhone and other smartphones. But capacity constraints — its Hillsboro factory is nearly full — prompted it to forgo some business.
Read more at OregonLive.com.
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