RF Micro Devices, Inc. (NASDAQ: RFMD) is trying to dispute industry woes being seen at other mobile and communication chipset companies. This may sound important as its customers or its customers’ peers are starting to warn of revenue shortfalls ahead. The mobile and communications chipset maker said it is reaffirming its previous guidance today at a Morgan Keegan conference for the September quarter after its guidance of July 29.
It is reaffirming Revenue in the September 2008 quarter in a range of$250 to $260 million with non-GAAP net income at approximately $0.05EPS. First call has revenues at roughly $256 million and $0.05 EPS.
Nokia (NYSE: NOK) warned this morning, and Capital IQ lists Nokia asa key customer along with others such as Motorola, Research-in-Motion,Sirius-XM, Sony Ericsson, and others. The problem is that Qualcomm already telegraphed a longer replacementcycle starting to be seen earlier this week and we are seeing furtherslowing in other areas in technology.
It doesn’t look like traders are biting forthis nudge though, and that may be on concerns that while its Q3 isfine that doesn’t give any confidence in Q4 or into 2009. Shares aredown over 8% at $3.54 on almost 12 million shares today. Its 52-week trading range is $2.52 to $7.46.
Jon C. Ogg
September 5, 2008
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