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Qorvo’s IDP record high in the first quarter of 2018

Qorvo, the worlds leading provider of innovative RF solutions, recently announced its financial results for the first quarter of 2018. On the basis of GAAP, the first quarter of 2018 fiscal revenue was 64.8 million US dollars, the gross profit margin was 36.9%, the operating loss was 2.78 million US dollars, and the diluted loss per share was 0.24 US dollars. On a non-GAAP basis, fiscal revenue for the first quarter of 2018 was $639.90 million, gross margin was 47.3%, operating income was $137.4 million, accounting for 21.5% of sales, and diluted EPS was $0.87.
Qorvo President and CEO Bob Bruggeworth was very pleased with Qorvo’s progress as it successfully achieved revenue growth in the third quarter of 2017 and continued to move towards profit targets. Our IDP portfolio is also working to find differentiation to adapt to market growth, as this order is expected to become a dark horse in the market. In the field of mobile products, we have also designed a new product that will be the most integrated RF solution in the industry, targeting high-end and high-margin.
Achieved the highest IDP record with revenue of $184 million, a 9% increase from the previous quarter, led by the Internet of Things and defense • Received 28 GHz support for the Samsung® 5 G antenna system during the 2018 Winter Olympics • Started 39 of the 5G infrastructure Commercial transport of GHz FEMs • Designed as a color® DOCSIS 3.1 gateway with 2.4 GHz and 5 GHz wifi solutions • Multi-protocol for major cable and satellite TV providers 802.14 IoT soc • Selected by China‘s leading smartphone manufacturers Confirmed support for the development of subtitle smartphones using power amplifiers, high-end filters, high-performance switches and ET PMICs this fall • The security design of the BAW 5 series is a large smartphone platform, including: four-way complex for carrier aggregation Utilities (CA); wi-fi Oppo® project, Xiaomi® and LG®; and a wi-fi coexistence filter • Support for new smartphone entrants in Android® Qorvo RF content ecosystem over $12 • Get “Innovative Technology Partner” Award
Financial Review and Prospects Qorvo Chief Financial Officer Mark Murphy said: “In the second quarter, we expect the growth of mobile phone conferences will continue, China’s economy will recover moderately, and IDP will continue to strengthen. In the field of mobile products, we expect this year The half-year fiscal growth rate will reach double digits, which reflects our current views on project management and China market dynamics. In terms of IDP, we expect full-year growth in multiple markets to exceed 15%. Operating results continue to improve, anticipation In 2018, free cash flow will triple.
Qorvo expects its market demand environment to support non-GAAP forecasts for the September 2017 quarter: • Quarterly revenues between $800 million and $820 million • Gross margins of approximately 47.8%, an increase of 50 basis points from the previous quarter • Dilution Post earnings per share between $1.36 and $1.50
Qorvo’s actual quarterly results may differ from forecasts, and these differences may be inevitable.

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