Press release
Qorvo® Announces Fiscal 2021 Fourth Quarter Financial Results
GREENSBORO, N.C., May 05, 2021 (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., May 05, 2021 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading provider of innovative RF solutions that connect the world, today announced financial results for the Company’s fiscal 2021 fourth quarter ended April 3, 2021. On a GAAP basis, revenue for Qorvo’s fiscal 2021 fourth quarter was $1.073 billion, gross margin was 49.3%, operating income was $293 million and diluted earnings per share was $2.60. On a non-GAAP basis, gross margin was 52.6%, operating income was $357 million and diluted earnings per share was $2.74. Bob Bruggeworth, president and chief executive officer of Qorvo, said, “Qorvo’s March quarterly revenue exceeded expectations driven by demand in 5G handsets and Wi-Fi 6 and 6E. Our outlook is strong as Qorvo is enabling multiyear upgrade cycles in existing markets and introducing disruptive technologies including ultra-wideband, RF-based biotechnology testing and MEMS-based solutions. “After the quarter closed, we acquired NextInput, a pioneer in the emerging field of force-sensing solutions utilizing MEMS-based sensors. We welcome the NextInput team to the Qorvo family, and we are excited to expand our technology portfolio and accelerate the deployment of the technology to our broad customer base and new markets.” Strategic Highlights Achieved record shipments of LB, MHB and UHB main path solutions and Wi-Fi 6E FEMs in support of leading Android® smartphone OEMsContinued to expand content opportunity with leading Android OEMs by securing complete main path solutions and secondary transmit in the diversity pathSelected by leading provider of consumer IoT products to integrate UWB into a broad set of connected home devicesHonored by Samsung® with its Best Quality Award in recognition of Qorvo’s innovation and outstanding performance in support of the Galaxy® product familySecured full Wi-Fi 6 RFFE BOM in support of major U.S. MSO gateway and released multiple 5 GHz iFEMs delivering improved band isolation and enhancing capacity and range in tri-band Wi-Fi 6 home mesh networksReceived initial production orders for cellular V2X front end modules and BAW coexistence filters to support the leading European automotive OEMsSupported successful landing of NASA’s JPL Mars Perseverance rover with components integrated into the descent radarReleased reconfigurable dual-band (S band and X band) GaN po...