Press release
Qorvo Announces Revised Guidance for Fiscal 2020 Fourth Quarter
GREENSBORO, N.C., March 03, 2020 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading provider of innovative RF solutions that connect the world, today
About this update from Qorvo, Inc.
[{"type":"text","content":"GREENSBORO, N.C., March 03, 2020 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading provider of innovative RF solutions that connect the world, today provided updated financial guidance for the company’s fiscal 2020 fourth quarter, ending March 28, 2020. \n On January 29, 2020, Qorvo provided March 2020 quarterly revenue guidance of $800 million to $840 million. Since then, the novel coronavirus (COVID-19) has impacted the smartphone supply chain and customer demand more than anticipated. Qorvo currently estimates revenue in the March quarter of approximately $770 million, or $50 million below the midpoint. However, the full impact of COVID-19 remains difficult to forecast given the uncertainty of the magnitude, duration and geographic reach of the outbreak. The company plans to announce financial results for its fiscal 2020 fourth quarter on or about May 5, 2020. About Qorvo Qorvo (Nasdaq: QRVO) makes a better world possible by providing innovative Radio Frequency (RF) solutions at the center of connectivity. We combine product and technology leadership, systems-level expertise and global manufacturing scale to quickly solve our customers’ most complex technical challenges. Qorvo serves diverse high-growth segments of large global markets, including advanced wireless devices, wired and wireless networks and defense radar and communications. We also leverage unique competitive strengths to advance 5G networks, cloud computing, the Internet of Things, and other emerging applications that expand the global framework interconnecting people, places and things. Visit www.qorvo.com to learn how Qorvo connects the world. Qorvo is a registered trademark of Qorvo, Inc. in the U.S. and in other countries. All other trademarks are the property of their respective owners. This press release includes \"forward-looking statements\" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions, and are not historical facts and typically are identified by use of terms such as \"may,\" \"will,\" \"should,\" \"could,\" \"expect,\" \"plan,\" \"anticipate,\" \"believe,\" \"estimate,\" \"predict,\" \"potential,\" \"continue\" and similar words, although some forward-lo...