RF Micro Devices Q1 Profit Tops Estimates - Quick Facts

(RTTNews) - RF Micro Devices Inc. (RFMD), a maker of high-performance radio frequency solutions, Tuesday reported net income of $1.6 million or $0.01 per share for the first quarter of fiscal 2014. This compares with a net loss of $19 million or $0.07 per share last year.

Excluding amortization costs and other items, earnings for the quarter were $25.6 million or $0.09 per share, compared with $2.7 million or $0.01 per share a year ago.

Revenues for the quarter were up 45% at $293 million, compared with $202.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.07 per share on revenues of $287.93 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the second quarter, the company expects adjusted earnings of $0.10 to $0.11 per share on revenues of $305 million to $310 million. Analysts expect earnings of $0.10 per share on revenues of $306.77 million.