Press release
Qorvo® Announces Fiscal 2022 Fourth Quarter Financial Results
GREENSBORO, N.C., May 04, 2022 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq:QRVO), a leading provider of innovative RF solutions that connect the world, today announced
About this update from Qorvo, Inc.
[{"type":"text","content":"GREENSBORO, N.C., May 04, 2022 (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 fourth quarter ended April 2, 2022. On a GAAP basis, revenue for Qorvo’s fiscal 2022 fourth quarter was $1.166 billion, gross margin was 48.9%, operating income was $271 million and diluted earnings per share was $1.95. On a non-GAAP basis, gross margin was 52.0%, operating income was $377 million and diluted earnings per share was $3.12. Bob Bruggeworth, president and chief executive officer of Qorvo, said, “Qorvo delivered a strong fiscal 2022 fourth quarter and full fiscal year. Revenue exceeded the midpoint of quarterly guidance, despite a dynamic and challenging macro environment. We continue to execute well, and our customers are excited about the technologies and products we are releasing. Qorvo is extremely well positioned with multiyear growth drivers, broadening market and customer exposure and a deep product and technical portfolio.” Strategic Highlights Received multi-million-dollar order for new SiC power device solution for circuit protection in EV charging stationsSecured multiple design wins for massive MIMO small signal infrastructure applications in the U.S. and EuropeIncreased shipments of power management ICs for solid state drive applications and motor control solutions for battery powered tools and appliancesIncreased shipments to a Korea-based smartphone OEM, including RF Fusion™, Wi-Fi 6E FEMs, antenna control solutions and RF power management ICs, for mass-tier and flagship 5G smartphonesRecognized by Honor as their only “Core Strategic Supplier” in the RF category and received first production orders for Qorvo’s next-generation RF FusionSecured design wins across China-based smartphone OEMs for a range of Qorvo products, including complete main path and secondary transmit solutions, supporting multiple basebandsSecured first design win for complete UWB SiP solution, including SoC, RF front end and software, in support of multiple upcoming smartphone modelsSampled BAW-based Wi-Fi 6E filter reducing form factors for CPE tri-band mesh applicationsBegan ramping industry’s first wideband FEM for enterprise CPE applications enabling RF configurability and covering both Wi-Fi 6 and 6E, increasing capacity a...