TriQuint Semiconductor's annual revenue up by 14% and quarterly by 12%

RF IC specialist TriQuint Semiconductor has reported a revenue of $193.3 million for the fourth quarter of 2009, up 12% sequentially and 30% from the fourth quarter of 2008. Revenue for the year ended 2009 was $654.3 million, up 14% from the prior year. The mobile devices (its RF amplifiers and RF front end ICs used in mobile phones) grew by 55% and Defense & Aerospace specific devices grew 15% year over year.
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Ralph Quinsey, President and Chief Executive Officer, stated "TriQuint found opportunity in the economic challenges of 2009, generating great results in Q4 and a solid year of strategic and financial progress. TriQuint continues to penetrate the high volume and expanding mobile devices market and is building on our leadership position in networks, defense and aerospace. Our strategy leverages our broad technology portfolio, providing customers with complete RF solutions that simplify their design efforts, yielding faster time to market, improved performance and reduced board space requirements."

Net income for the fourth quarter of 2009 was $17.5 million, or $0.11 per diluted share. Net income for the year ended 2009 was $16.2 million or $0.11 per diluted share. Non-GAAP net income for the fourth quarter grew 44% to $22.6 million, or $0.14 per diluted share. Non-GAAP net income for the year ended 2009 was $38.8 million or $0.25 per diluted share.

TriQuint Semiconductor estimates its first quarter 2010 revenue will be between $170 million and $175 million. For the full year, the Company expects revenue growth of about 20%.