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TriQuint Posts Q3

HILLSBORO, Ore. — TriQuint Semiconductor, Inc. (NASDAQ:TQNT), a leading RF front-end product and foundry services provider, announces its financial results for the quarter ended October 2, 2010, including the following highlights:

• Revenue was $237.0 million, up 14% from Q2’10 and 37% from Q3’09
• Mobile Devices quarterly revenue grew 28% from Q2’10 and 37% from Q3’09
• Net Income was $110.9 million or $0.68 per diluted share which includes a tax benefit of $72.1 million
• Non-GAAP Net Income was $44.2 million or $0.27 per diluted share
• Named to Forbes.com “Most Trustworthy Companies” list
• Released TQP15 Foundry process for mmWave applications: VSAT, satellite and point to point radios
• Announced integration strategy for Base Station products – four levels of integration
• Launched heat spreading capability for high power die sales – Die on Tab
• Awarded a $17.5 million Title III gallium nitride manufacturing development contract by the US Air Force Research Laboratory

Commenting on the results for the quarter ended October 2, 2010, Ralph Quinsey, President and Chief Executive Officer, stated, “I am very pleased with our results this quarter and am excited about our long term opportunities. We’ve turned in record third quarter revenue and, not including favorable non cash tax effects, generated more non-GAAP net income in Q3 than we did in either of the preceding 2 years. Our strategy of RF integration, multi-market innovation, and growth for scale has been effective. Looking forward I expect that the RF market will remain healthy and TriQuint will benefit from a strong product roadmap built on industry leading technology platforms.”

{complink 5757|TriQuint Semiconductor Inc.}

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