Qorvo has announced financial results for their fiscal 2017 fourth quarter, that ended on April 1, 2017. For fiscal year 2017, Qorvo delivered revenue of $3 billion, up 16% year-over-year, with 23% growth in IDP and 14% growth in Mobile Products. They expect continued strong revenue growth and margin expansion in fiscal year 2018. In the March quarter, they collaborated with all major infrastructure OEMs on next-generation 4G and pre-5G macro base station GaN PAs, they supported 1 Gbps throughput in the ZTE® Gigabit smartphone, they supplied the industry's first 5G RF front end in collaboration with Intel®, and they achieved full certification of the first single-placement integrated module covering low, mid and high bands on a MediaTek baseband.
Quarterly Highlights
- Shipped first BAW 5-based filter, in RF Fusion WiFi solution, in support of Xiaomi, Oppo and Vivo
- First to achieve full certification from MediaTek for an integrated module covering low, mid and high bands
- Supported ZTE with full suite of low-, mid- and high-band RF Fusion placements
- Commenced shipments of Power Class 2 solutions to Sony, LG and HTC, and secured design wins for Power Class 2-capable RF Flex and high-band RF Fusion solutions
- Secured an important 802.11ac design win in a Sonos sound bar for home audio networks
- Achieved over 20% year-over-year growth in Defense & Aerospace with strength in GaN-based power amplifiers
- Expanded optical product portfolio with release of phase amplitude modulation 4 (PAM4) products for data centers
On a GAAP basis, fiscal 2017 fourth quarter revenue increased 5.7% year-over-year to $643.0 million. Gross margin was 36.0%, operating loss was $24.5 million, and diluted EPS was $0.43. On a non-GAAP basis, fiscal 2017 fourth quarter revenue was $642.0 million, gross margin was 46.2%, operating income was $133.4 million, or 20.8% of sales, and diluted EPS was $0.85.
