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In a release dated October 21, the company stated: - Revenue for the third quarter was $173.0 million, up 2 percent sequentially - Net income for the quarter was $10.5 million or $0.07 per share. Non-GAAP net income grew 37 percent sequentially to $15.7 million or $0.10 per share - Cash and investments increased $35.2 million to $134.6 million - Acquired TriAccess Technologies, a provider of Cable TV (CATV) and Fiber-to-the-Home (FTTH) integrated circuits - Signed a Strategic Partner agreement with China's Huawei Technologies to Supply "Green" Optical products - Received Raytheon Space and Airborne Systems' Four-Star Supplier Excellence Award - Won a $16.2 million research contract from U.S. Defense Advanced Research Projects Agency (DARPA) Ralph Quinsey, President and Chief Executive Officer, said, "TriQuint revenue, in the last six months, is up 28 percent compared with the previous six months, demonstrating a strong rebound from the economic slowdown. Non-GAAP net income for Q3 2009 was up 37 percent sequentially and we finished the quarter with a solid cash position of $134.6 million dollars and no debt. Highlights for the quarter include the acquisition of TriAccess Technologies, a provider of cable and fiber-to-the-home devices, an agreement with Huawei Technologies to supply 'green' optical products and new DARPA funding for technology investment in very high frequency materials and applications." - Revenue for the third quarter of 2009 was $173.0 million, up 2 percent sequentially and a decrease of 7 percent from the third quarter of 2008. All markets enjoyed sequential growth with the networks market growing 13 percent sequentially, partially due to clearance of excess inventory in the WLAN market. - Net income for the third quarter of 2009 was $10.5 million, or $0.07 per diluted share. Non-GAAP net income for the third quarter grew 37 percent to $15.7 million, or $0.10 per diluted share. Non-GAAP financial measures exclude stock based compensation charges, a charge for the anticipated settlement of a lawsuit and certain charges associated with acquisitions. - Gross margin for the third quarter of 2009 was 33.8 percent, up from 32.3 percent in the second quarter of 2009. On a non-GAAP basis, gross margin was 35.0 percent, up from 33.2 percent in the prior quarter. Gross margin increased due to improved factory utilization and the elimination of inefficiencies associated with high sequential revenue growth in the second quarter. - Operating expenses for the third quarter of 2009 were $47.7 million, or 27.6 percent of revenue. Non-GAAP operating expenses for the quarter were $44.8 million or 25.9 percent of revenue. ((Comments on this story may be sent to newsdesk@closeupmedia.com)) For full details on Triquint Semiconductor (TQNT) click here. Triquint Semiconductor (TQNT) has Short Term PowerRatings of 8. Details on Triquint Semiconductor (TQNT) Short Term PowerRatings is available at This Link.
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