Press release
Qorvo® Announces Fiscal 2022 First Quarter Financial Results
GREENSBORO, N.C., Aug. 04, 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., Aug. 04, 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 2022 first quarter ended July 3, 2021. On a GAAP basis, revenue for Qorvo’s fiscal 2022 first quarter was $1.110 billion, gross margin was 49.2%, operating income was $297 million and diluted earnings per share was $2.51. On a non-GAAP basis, gross margin was 52.5%, operating income was $367 million and diluted earnings per share was $2.83. Bob Bruggeworth, president and chief executive officer of Qorvo, said, “The Qorvo team delivered an exceptional June quarter, driven by product and technology leadership and multi-year technology upgrade cycles. End market demand is robust, and our outlook is strong. Qorvo is investing in new product areas and differentiated technologies to broaden our reach and extend our leadership in integrated RF modules and other products.” Strategic Highlights Launched next-generation complete main path solution, including LB, MHB and UHB integrated modules, offering higher output power and enhanced MIMO support for upcoming 5G phonesBegan sampling Qorvo's first 5G DRx, featuring best-in-class receive sensitivity for sub-6 GHz 5G UHBAchieved interoperability of Qorvo’s UWB products with the Apple U1 chip and the recently introduced Nearby Interaction protocol, accelerating UWB customer design activitySecured new reference design engagements in mobile phones with Wi-Fi 6E chip-on-board FEMs delivering superior performance and enhancing design flexibilityAchieved record automotive revenue and shipped a broad range of solutions for leading automotive OEMs, including MEMS-based touch sensor solutions enabling configurable smart interiorsSecured BAW filter design win with leading supplier of high-end audio speakers to support pairing of Wi-Fi 6 and Bluetooth® low energyPartnered with leading supplier of home mesh networks to introduce first Wi-Fi 6 router with integrated Bluetooth low energy, Thread and Zigbee multi-protocol operation, featuring ConcurrentConnect™ technologyReleased 40V motor control solution enabling continued transition to higher voltage battery power toolsIncreased shipments to major OEMs in support of 5G sub-6 GHz mMIMO and macro deployments in the U.S., Japan, Korea and Canada and achiev...