Press release
Qorvo® Announces Fiscal 2022 Second Quarter Financial Results
GREENSBORO, N.C., Nov. 03, 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., Nov. 03, 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 second quarter ended October 2, 2021. On a GAAP basis, revenue for Qorvo’s fiscal 2022 second quarter was $1.255 billion, gross margin was 49.5%, operating income was $362 million and diluted earnings per share was $2.84. On a non-GAAP basis, gross margin was 52.4%, operating income was $435 million and diluted earnings per share was $3.42. Bob Bruggeworth, president and chief executive officer of Qorvo, said, “Qorvo delivered a strong September quarter and is executing well. We are sustaining investments in highly differentiated technologies and best-in-class products to extend our leadership and drive growth. After the quarter closed, Qorvo acquired United Silicon Carbide, an innovator in silicon carbide power devices and a pioneer in silicon carbide JFETs. The addition of United Silicon Carbide leverages Qorvo’s wide bandgap competencies and expands our power franchise.” Strategic Highlights Commenced shipments of MHB and UHB PADs, antenna tuners and multiple connectivity solutions to support the ramp of the Google Pixel 6Received initial production orders for MHB and UHB PADs, Wi-Fi FEMs, and high-performance discrete solutions enabling advanced functionality in upcoming Korea-based 5G mass-market smartphone platformExpanded UWB engagement with leading provider of consumer IoT products covering a broad range of connected home devices and secured UWB design wins with multiple OEMs supporting enterprise access points and home mesh networksSelected to supply UWB and Zigbee solutions with ConcurrentConnect™ technology to automaker in Korea, streamlining manufacturing automationBegan sampling 5.2 GHz/5.6 GHz Wi-Fi 6 iFEMs with an integrated BAW filter, enabling higher capacity and improved efficiency in a reduced form factorSelected by a major base station OEM to supply all RF transmit and receive path content, including BAW filters, for 5G small cellsExpanded defense product portfolio with industry-leading 125-watt S-band power amplifier module and 1.8-kilowatt L-band radar pallet for commercial and defense radar applicationsReceived first orders and commenced shipments of Qorvo Omnia™ Antigen Test Platform, including cartri...