Qorvo, Inc. Reports Earnings Results for the Third Quarter Ended December 28, 2019
January 30, 2020 at 02:45 am IST
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Qorvo, Inc. announced earnings results for the third quarter ended December 28, 2019. For the third quarter, the company announced sales was USD 869.073 million compared to USD 832.330 million a year ago. Operating income was USD 153.069 million compared to USD 81.157 million a year ago. Net income was USD 161.356 million compared to USD 69.517 million a year ago. Diluted earnings per share was USD 1.36 compared to USD 0.55 a year ago. For the nine months, sales was USD 2,451.369 million compared to USD 2,409.443 million a year ago. Operating income was USD 321.062 million compared to USD 152.419 million a year ago. Net income was USD 283.935 million compared to USD 71.608 million a year ago. Diluted earnings per share was USD 2.37 compared to USD 0.56 a year ago.
Qorvo, Inc. specializes in the design, production and marketing of radio-frequency components and solutions. In particular, the group makes power amplifiers, embedded modules, selector switches, duplexers, power management devices, wireless connection solutions, frequency convertors, oscillators, couplers and optical components.
Net sales break down by activity as follows:
- mobile terminals and electronic devices (76.3%);
- defense and aeronautics equipment, network infrastructures (23.7%).
At the end of March 2022, the group had 7 production sites located in the United States (3), China (2), Costa Rica and Germany.
Net sales break down geographically as follows: the United States (41.5%), China (32.3%), Taiwan (7.4%), Asia (13.4%) and Europe (5.4%).
QORVO, INC. 
